Market Overview
Glycine or Gly is the proteinogenic amino acid that has a single hydrogen atom attached to a side chain. It is an achiral type of amino acid that is fit for both hydrophilic and hydrophobic environments, which helps its applicability in food products and as a chemical intermediate. Glycine occurs naturally in higher eukaryotes and is a principal precursor to protein. The major applications of glycine can be found as an additive or supplementation in the food products. As per the medical research, this product has been found to support healthy functioning of kidney, liver, and other vital organs in humans. Additionally, glycine is significantly used in wide range of applications such as an additive in animal feed and pet food as a sweetener/taste enhancer, or as a component of food supplements and also in protein drinks. Moreover, the cosmetics and pharmaceuticals industries are the major end users of glycine. Increasing per capita income, shifting consumer patterns, and changing the lifestyle of the people, especially, in emerging economies, are the protuberant factors driving the growth of the global glycine market.
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Competitive Analysis
- Chattem Chemicals, Inc.
- GEO Specialty Chemicals, Inc.
- Evonik Industries AG
- Triveni Chemicals
- Ajinomoto North America, Inc.
- AMINO GmbH
- Advance Chemical Sales Corporation
Market Segmentation
The global Glycine Market is segmented into grade, application, and region.
On the basis of the grade, the market is classified as food grade, pharmaceutical grade, and technical grade glycine. Among these, the food grade glycine is the largest segment due to a healthy demand from the ever-increasing foods & beverages industry. It has been projected that the global processed food market may grow at a significant rate due to increasing global demand for ready-to-cook food and fast food products. Moreover, the emergence of the new food-related concepts such as “freedom food”, “rush-hour foods,” and others with the changing socio-economic scenario is anticipated to propel the growth of the food grade segment during the forecast period.
Based on the application, the global glycine market is categorized into food & beverages, cosmetics & personal care, pharmaceuticals, chemical intermediate, and others. The foods & beverages are the most dominant application of glycine owing to the rising demand for the protein-rich food. The rapidly increasing global population is poised to mark over 8 trillion people by the end of 2021 and shrinking agricultural land due to loss of fertility has necessitated the maximum production of animal products and increase the nutritional value of vegetarian food. This is likely to favor the growth of this segment during the years to follow.
Regional Analysis
There are five major regions in which the global Glycine Market is divided into the Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America is the largest region in this market, in terms of size. It accounted for a quarter share of the market, as of 2016. The U.S. is anticipated to hold the largest share of this market owing to higher meat consumption and sizeable livestock production, which leads to a rise in the demand for animal feed additives. However, during the forecast period, this region is likely to witness a stagnant growth due to sluggish demand from the foods & beverages industry.
The Asia Pacific is growing at the highest rate among the other regions in this market and is anticipated to retain its growth rate during the forecast period. This is attributed to the shifting consumer patterns, upgrading lifestyle, enhanced spending ability, and rapidly increasing population in this region. India, Japan, and China are the leading markets in this region. North America is holding the second major share of the market. Europe is following North America in terms of market size, with Germany, the U.K, and France holding a considerable share of the market. The Middle East & Africa is a swiftly growing market where the growth is driven by the demand for foods & beverages. Latin America is anticipated to witness a rise in the regional market due to the pacifying political and reviving economic situation.
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