Market Overview:
Glycine also called Gly, is one of the simplest proteinogenic amino acids having a single hydrogen atom as a side chain. It is a colorless, sweet crystalline solid. This type of achiral amino acid can fit into both hydrophilic and hydrophobic environments due to its shorter side with only one hydrogen atom attached to it. Glycine is naturally available in abundance, which has been found to support healthy functioning of kidney and liver. Apart from that glycine serves a wide range of application 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. Additionally, the product has successful penetration in the cosmetics and pharmaceuticals.
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Growing demand for the glycine from the major end users is the primary factor driving the growth of the market. The global processed food market is projected to grow at a considerable growth rate due to rising global demand for easy and ready to cook food and fast food. Apart from this, there is a constant rise in the new food concepts such as “free food”, “rush-hour foods” and others on the backdrop of changing socio-economic scenario. This is anticipated to boost the demand for glycine in the coming years. Moreover, with increasing per capita income and standard of living of the people, particularly in the developing countries, the consumption pattern is tangibly shifting toward packaged food, beverages. Moreover, increasing global consumption of animal products such as meat, milk, eggs, and others is projected to grow further on account of growing demand for the protein-rich food. As a result of this, the demand for the glycine in the animal feed is likely to surge at a considerable rate during the years to follow. Furthermore, rapidly increasing population and shrinking of agricultural land are set to favor animal rearing in the near future, which might have a positive repercussion on the global glycine market.
Regional Analysis:
The global glycine market is spanned across the five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The Asia Pacific is the fastest growing market owing 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 major shareholders in this region on accounts of growing demand for glycine in emerging applications. North America is the largest market in the global glycine market, yet the growth of this regional market is witnessing stagnation since past few months due to the sluggish demand. The U.S is leading the market in this region, which is attributed to a huge demand for packaged food and meat products, along with the growing foods & beverages industry.
Europe is another significant region in the global glycine market. Major contributors to the regional market are U.K, France, Germany, and Switzerland. Yet, the region is anticipated to witness a moderate growth during the forecast period due to a sluggish growth of the end users and economic slowdown. Latin America is estimated to register a significant CAGR owing to reviving the economy and high growth potential of Brazil and Mexico. In the coming years, the Middle East & African region is set to grow at a considerable CAGR on account of the huge growth opportunities from the major end-use industries such as foods & beverages.
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Segmentation:
The global glycine market is segmented into grade, application, and region.
On the basis of the grade, the market is divided into food grade, pharmaceutical grade, and technical grade.
Based on the application, the global glycine market is categorized into food & beverages, cosmetics & personal care, pharmaceuticals, chemical intermediate, and others.
Regionally, the market is spanned across five key regions, including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
Key Players
The prominent players operating in the global glycine market are Chattem Chemicals, Inc. (U.S.), GEO Specialty Chemicals, Inc. (U.S.), Evonik Industries AG (Germany), Triveni Chemicals (India), Ajinomoto North America, Inc. (U.S.), AMINO GmbH (Germany), Advance Chemical Sales Corporation (India), among others.
Intended Audience
• Glycine Manufacturers
• Traders and distributors of glycine
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratory
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