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Miticides Market Size
- Report ID: GMI7833
- Published Date: Dec 2023
- Report Format: PDF
Miticides Market Size
Miticides Market was valued at around USD 1.49 billion in 2023 and is anticipated to grow at a CAGR of around 4.6% between 2024 and 2032.
The demand for miticides in the market is driven by the increasing prevalence of mite infestations that pose significant threats to crop yields. According to the United States Department of Agriculture (USDA), mite-related crop losses can range from 5% to 30%, depending on the crop type and prevailing environmental conditions. As mites reproduce rapidly and develop resistance to certain pesticides, there is a growing need for effective miticides to mitigate these losses.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Miticides Market Size in 2023: | USD 1.49 billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.6% |
| 2032 Value Projection: | USD 2.23 billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 191 |
| Segments covered: | Crop Type, Form, Product |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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One potential pitfall for the miticides market is the development of resistance in mite populations. Prolonged use of certain miticides may lead to the evolution of resistance, rendering those pesticides less effective. This challenge underscores the importance of rotating and diversifying miticide options and emphasizes the need for continuous innovation in the development of new formulations with distinct modes of action.
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Miticides Market Scope
