Acaricides Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) The acaricides market is estimated to register a CAGR of 5.0% during the forecast period (2022-2027). Post the COVID-19 global health emergency, nationwide shutdowns were imposed across the world, which resulted in supply chain disruptions worldwide. The global shutdowns with an increase in the number of cases, the shortage of labor, and closing down of facilities resulted in low production of agrochemicals, including acaricides.
Thus, the pandemic has indirectly impacted acaricide supplies on a global level. Therefore, the market is expected to observe a moderate impact of COVID-19 in 2021.Over the long term, the growing food demand with expanding population, decreasing arable land, increasing demand for natural products, and increasing demand for sustainable agricultural practices are some of the major drivers for the increasing demand for acaricides. It has been estimated that the yield losses due to attacks by mites could be as high as 13.8% in many crops.
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