The growth of the miticides market is driven by increasing awareness about decreasing losses, maximizing yield, and increasing the value of fruits, vegetables, ornamentals, and other crops.
The market is further driven by factors such as technology and development of innovative miticides that are cost-effective as well as used on a broad crop portfolio to decrease crop losses.
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The miticides market stood at USD 1.10 Billion in 2017; it is projected to grow at a CAGR of 5.7% from 2018, to reach USD 1.55 Billion by 2023.
Miticides are crop protection chemicals that specifically target plant mites. They constitute an important group of crop protection chemicals used to protect plants from harmful mites and insects such as spiders and ticks.
The miticides market is estimated at USD 1.17 Billion in 2018 and is projected to reach a value of USD 1.55 Billion by 2023, at a CAGR of 5.7%.
The miticides market stood at USD 1.10 Billion in 2017; it is projected to grow at a CAGR of 5.7% from 2018, to reach USD 1.55 Billion by 2023.
On the basis of source, the chemical segment dominated the miticides market in 2017. The use of synthetic chemical miticides for plant and crop protection is constantly growing.
Miticides often vary on the basis of the mites they target and the promptness of their killing rate and are effective against eggs and larval stages as well as adult mites.