South & Central America Miticides Market Forecast to 2028 -Regional Analysis

The South & Central America miticides market is expected to grow from US$ 171.73 million in 2022 to US$ 231.59 million by 2028. It is estimated to grow at a CAGR of 5.1% from 2022 to 2028.

Increasing Use of Miticides for Crop Protection and Yield Improvement Drive South & Central America Miticides Market

Pesticides, which are used to control insects and weeds, are indispensable in agricultural practices. It has also led to a surge in the agricultural sector due to increasing food demand. With a rise in the population and a subsequent rise in the demand for food, agriculturists across the world are focusing on modifying farming practices to obtain high crop yields from smaller cultivation areas. Thus, crop protection and yield enhancement are the key focus areas of the agricultural sector, which signifies the continuous need for fertilizers and pesticides in farming.
Miticides help keep crops healthy and disease free by killing ticks and mites. Mites are invertebrate organisms that usually feed on plants and animals. They attack several crops such as canola, pulses, and legumes, causing distorted leaves and cracked stems. Miticides kill mites and prevent plants from various contagious diseases, and their function significantly aids in the growth of the South & Central America miticides market.

South & Central America Miticides Market Overview

Expanding agricultural facilities across South & Central America are contributing to the growth of the South & Central America miticides market in the region. The utilization of miticides in the agricultural process helps boost productivity, which propels the demand for miticides. Soybeans, corn, and sugarcane are the top three crops grown in South & Central America, and their production has increased significantly over the last two decades. As farmers in countries such as Brazil continue to increase planted areas and strive for higher yields is expected to rise in the coming years. This factor will drive the South & Central America miticides market growth in the region during the forecast period. The area harvested under major food crops in South & Central America has been steadily increasing, owing to rising population and corresponding increases in demand for food grains. According to the Food and Agriculture Organization of the United Nations, in Argentina, cereal crop area increased from 11.7 million hectares in 2015 to 15.1 million hectares in 2020. Therefore, a rise in land area under agriculture across South & Central America propels the usage of pesticides and fertilizers.
South & Central America Miticides Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Miticides Market Segmentation

The South & Central America Miticides market is segmented into source, form, crop type, and country.
Based on source, the South & Central America miticides market is bifurcated into bio-based and synthetic. In 2022, the synthetic segment registered a larger share in the South & Central America miticides market.
Based on form, the South & Central America miticides market is segmented into dry and liquid. In 2022, the liquid segment registered a larger share in the South & Central America miticides market.
Based on crop type, the South & Central America miticides market is segmented into fruits and vegetables, cereals and grains, oilseeds and pulses, and others. In 2022, the fruits and vegetables segment registered a largest share in the South & Central America miticides market.
Based on country, the South & Central America miticides market is segmented into Brazil, Argentina, and the Rest of South & Central America. In 2022, Brazil segment registered a largest share in the South & Central America miticides market.
BASF SE; Bayer AG; Certis USA LLC; FMC Corp; Gowan Co; Kemin Industries Inc.; Nihon Nohyaku Co. Ltd.; Oro Agri International BV; Syngenta AG; and UPL Ltd are the leading companies operating in the South & Central America miticides market.