Market Synopsis
As per the analysis by Market Research Future (MRFR), the global glycinates market is anticipated to acquire significant market value, expanding at a CAGR of 5.5% during the forecast period from 2020 to 2023.
The increasing demand for glycinates from supplements and preventive healthcare sectors is projected to be a significant factor driving the global glycinates market 2020. The growing deficiency of minerals among the expanding populace is likely to increase the need for glycinates, which can augment the market in the forecast period. Furthermore, the escalating need for the mineral supplement in agribusiness to feed poultry and cattle with essential nutrients is projected to strengthen the market additionally.
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On the flip side, the expenses associated with R&D and lack of awareness are anticipated to hamper the market growth during the projection period. However, the increasing demand for glycinates in developing countries, along with above-mentioned factors can actuate the market significantly in the review period.
Leading Competitors
Some of the established entities of the Global Glycinates Market are Ajinomoto Co., Inc. (Japan), Albion Laboratories, Inc. (U.S.), Clariant AG (Switzerland), ALIPHOS Belgium SA/NV (Belgium), Solvay SA (Belgium), SCHAUMANN GmbH & Co. KG. (Germany), NOVOTECH Nutraceuticals Inc. (U.S.), Shijiazhuang DONGHUA JINLONG Chemical Co Ltd. (China), BASF SE (Germany), Solvay SA (Belgium), and NOVOTECH Nutraceuticals Inc. (U.S.).
Market Segmentation
The Segmental Analysis of the Global Glycinates Market is done by form, type, and application.
The form-based segments of the Global Glycinates Market are liquid, powder, and others. Among all, the powder segment is anticipated to acquire the maximum market share during the review period owing to the wide range product applicability comprising of feed, beverages, supplements, and others
The type-based segments of the global glycinates market zinc, copper, manganese, magnesium, calcium, sodium, and others. Among all, the magnesium glycinate segment is anticipated to dominate the market during the evaluation period.
The application-based segments of the global glycinates market are beverages, nutraceuticals, animal feed, and others. Among all, the feed segment is anticipated to dominate the market during the forecast period.
Regional Analysis
Based on the region, the global glycinates market is segmented into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment, the global market is predicted to be dominated by North America during the forecast period owing to the rising demand for glycinates from the feed production. The growing demand for food additives in the developed countries like the US and Canada are projected to strengthen the regional market during the review period. Besides, the presence of key players performing continuous R&D activities are anticipated to propel the market additionally.
Europe market is expected to acquire the second largest market share during the evaluation period. The region is anticipated to grow owing to the significant participation of the key players. Further, the increasing demand for animal products is likely to expand the market growth in the coming period. The restrictions imposed on the usage of antibiotics in food & feed formulations is expected fuel the regional market.
The APAC region is expected to acquire considerable market share owing to the high demand for glycinates from emerging economies like India, China, and Japan. Further, the increasing demand of food additives from the evolving economies is likely to play substantial role during the projection period.
The MEA region is anticipated acquire a small amount of market share during the forecast period owing to the lack of awareness. However, the presence of untapped opportunities can aid in market growth.
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