Cyromazine Market Was Valued at US$ 1.4 Million in 2021 - Coherent Market Insights

Global Cyromazine market is estimated to be valued at US$ 1.4 Million in 2021, according to Global Cyromazine Market report, by Application (Crop Protection and Veterinary Medicines ), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.  

Global Cyromazine market was valued at US$ 1.4 Million in 2021. Cyromazine market is expected to register a CAGR of 5.9% over the forecast period (2022–2030). Increasing population, rising demand for food and agriculture products, which results in growing usage of insect growth regulators in the agriculture industry, in order to increase crop yields are major factors driving growth of market. According to the United States Department of Agriculture USDA Agricultural Projections to 2027 report published in February 2018, the world consumption of oilseeds is projected to rise 25.5 percent over the next decade, compared with 11.7% for coarse grains, 10.6% for wheat, and 7.5% for rice. Therefore, growth of agricultural sector is expected to increase demand for insect regulators for crop protection, which in turn is expected to drive growth of the cyromazine market. However, cyromazine’s effect on the developing stages of arthropods and insects, and not in later stages, and slow-acting impact of cyromazine are expected to restrain growth of the cyromazine market.

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https://www.coherentmarketinsights.com/market-insight/cyromazine-market-2426

Browse 50 market data tables* and 40 figures* on "Global Cyromazine Market” - Forecast to 2030.

Key Trends and Analysis of the Global Cyromazine Market:

Among applications, crop protection segment accounted for the largest market share in 2021. This is attributed to steady growth of the agriculture industry coupled with rising need to improve crop production, in order to meet the food demand, globally. According to analysis, crop protection segment held dominant position and contributed US$ 1.00 Mn in the global cyromazine market in 2021. Therefore, growth of agricultural industry is expected to result in increasing demand for insect growth regulators, which in turn is expected to drive growth of the cyromazine market.

Key Takeaways of the Global Cyromazine Market:

•  Asia Pacific accounted for largest market share of 37.2% in the global cyromazine market in 2021. This is attributed to growing agrochemical industry in Asia Pacific due to ever growing population in the region. According to the United Nations Economic and Social Commission for Asia and the Pacific, the total population of Asia Pacific was 4.3 billion in 2013, which contributed to 60% of the global population and is expected to reach over 5 billion by 2050.
• North America held significant market share in the cyromazine market in 2021, owing to growing animal health industry in the region. According to the report, ‘The Economic and Social Contributions of the Animal Health Industry’, published by Animal Health institute in February 2018, the U.S. animal health industry is a global leader in developing and producing medicines for companion food-producing animals.
• New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global Cyromazine market