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Cyromazine Market Competitive Strategies and Worldwide Demand with Top players- Syngenta AG, ADAMA Agricultural Solutions Ltd., Elanco Animal Health Inc., Jurox Pty Limited., Arysta LifeScience Corporation, Lasa Supergenerics Limited
Cyromazine
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North America held significant market share in the global cyromazine market in 2017, owing to increasing household income of the populace in the region, which in turn increases buying power and thus the demand for food. According to Peter G. Peterson Foundation’s news published in September 2018, the median household income of the U.S. increased from US$ 60,309 in 2016 to US$ 61,372 in 2017. Rising income levels in the U.S. is boosting demand for agriculture and food products.
Asia Pacific is the fastest growing region and accounted for the largest market share of 37.2% in 2017, owing to growing agricultural industry in economies such as India in this region. According to India Brand Equity Foundation report on Agriculture and Allied Industries published in May 2018, food grain production was 279.51 million tons in India during crop year of 2017-2018. The report also states that there is a rising demand for Indian food and agricultural products in the international market.
Companies are adopting inorganic growth strategies such as mergers & acquisitions, in order to increase its market share. For instance, in June 2018, Bayer successfully completed the acquisition of Monsanto, which will help Bayer to strengthen its agricultural division by providing more productive and sustainable agricultural solutions.
Players operating in the global cyromazine market are adopting various growth strategies to cater to increasing demand for cyromazine. For instance, in December 2017, ADAMA and ALRISE Biosystems signed an R&D agreement, in order to develop highly effective and sustainable crop protection products for farmers with a lower dose of active ingredients.
Major players operating in the global cyromazine market include Syngenta AG, ADAMA Agricultural Solutions Ltd., Elanco Animal Health Inc., Jurox Pty Limited., Arysta LifeScience Corporation, Lasa Supergenerics Limited, Orion AgriScience Limited, Topsen Biotech Co. Ltd., Shandong Luxi Animal Medicine Share Co., Ltd., Bayer AG, and Toronto Research Chemicals Inc.
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