Glycine MarketOverview:
Glycine is naturally available in abundance, and has been found to promote the proper functioning of the kidneys and liver. Apart from this, glycine serves a wide range of applications, as an additive in animal and pet foods, as a flavor enhancer, or as a component of dietary supplements as well as in protein shakes. In addition, the product has a successful penetration in cosmetics and pharmaceuticals.
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Drivers and Restraints:
The growing demand for glycine from the main end users is the main factor of market growth. The global glycine market is expected to grow at a considerable rate of growth due to the global demand for foods that are easy to prepare and ready to cook. Regardless of this, there is a constant increase in new food concepts, such as “free food”, “rush hour food”, among others, in a changing socio-economic scenario. This should stimulate the demand for glycine in the coming years. In addition, with the increase in per capita income and the standard of living of the population, especially in developing countries, consumption is changing in a tangible way towards packaged foods and beverages. In addition, it is expected that the increase in global consumption of animal products such as meat, milk, eggs and others will continue to increase due to the growing demand for protein-rich foods. As a result, it is expected that the demand for glycine in the food will increase significantly in the coming years. In addition, rapid population growth and shrinkage of agricultural lands are expected to favor livestock breeding in the near future, which could have a positive impact on the global glycine market.
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Geographic Segmentation:
The global glycine market covers five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. The Asia-Pacific region is the fastest growing market due to the presence of dynamic and emerging economies in the region, such as India, Japan, China, Singapore and South Korea. India and China are the main shareholders in this region due to the growing demand for glycine in emerging applications. North America is the largest market in the global glycine market, but growth in this regional market has stagnated in recent months due to weak demand. It is estimated that the compound annual growth rate (CAGR) is significant in Latin America due to the recovery of the economy and the high growth potential of Brazil and Mexico.
The prominent players operating in the world glycine market are Ajinomoto, GEO Specialty Chemicals, Showa Denko KK, Chattem Chemicals, Paras Intermediates Private Limited, Evonik, Shijiazhuang Donghua Jinlong Chemical, Hebei Donghua Jiheng Chemical, Linxi Hongtai, Hubei Xingfa Chemicals Group, Hebei Donghuajian Chemicals, Zhenxing Chemical, Newtrend Group.
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