Global Glycinates Market Analysis By Product Type, Top Key Players, Applications, and Industry Size - Forecast from 2018-2025
According to BlueWeave Consulting report, the global glycinates market was valued at USD 984.10 million in 2017 and is projected to expand at a CAGR of 5.15% from 2018 to 2024, by value, reaching around USD 1488.10 million by the end of the forecast period. According to the report, North America was the largest contributor in terms of revenue to global glycinates market in 2017.
Growing demand from supplements & healthcare products is driving the global glycinates market.
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Magnesium glycinates are often used in health supplement products over other magnesium form, as the body finds it easier to absorb this form. It is also one of the gentlest supplements, unlike other forms of magnesium. It does not cause as many side effects, such as an upset stomach or loose stools. This characteristic makes magnesium glycinates a good supplement for people recovering from bariatric surgery or anyone who might be at risk for magnesium levels which is stimulating the demand for magnesium glycinates over the forecast period.
With the rising opportunities in meat & dairy sector, there has been a shift in the focus of manufacturers towards animal feed. This is also anticipated to increase the consumption of glycinates in livestock feed. Glycinates is used in farming and agriculture industries to feed chicken and cattle in order to provide important nutrients for their growth. The government authorities are implementing strict regulation in Europe and United States, which has banned the use of certain antibiotics as growth promoters in animals. Thus, stringent regulations against antibiotics in livestock feed industry will promote glycinates market by 2025.
Global Glycinates Market: Scope of the Report
The global market for glycinates is segmented by product, by application, and by region. The product is further segmented into magnesium glycinates, zinc glycinates, calcium glycinates, copper glycinates, manganese glycinates, iron glycinates, sodium glycinates, and others. The application further segmented into pharmaceuticals, calcium glycinates, feed additives, personal care, and sodium glycinates. Thus, the demands for glycinates products, like magnesium glycinates and zinc glycinates, will generate higher revenue returns over the forecast period.
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Global Glycinates Market: Competitive Dynamics
The global glycinates market is dominated by a number of players, amongst them the major players BASF SE, Solvay, Ajinomoto, Clariant, Albion Laboratories, Shijiazhuang Donghua Jinlong Chemical, Galaxy Surfactants, Novotech Nutraceuticals, Schaumann, Dunstan Nutrition, Aliphos and Chaitanya Chemicals in this industry are following different strategies to strengthen their market position. For instance, In November 2017 BASF SE signed an agreement with Avitech Nutrition Pvt. Ltd., who is the leader in the animal nutrition field in India. They have special expertise in feed additives that will help BASF to expand their organic trace element product market in South Asia.
Global Glycinates Market: Competitive Dynamics
Major industry players in global glycinates market are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for strategic expansion in the glycinates market. For instance, in November 2017, BASF SE entered into a partnership with Avitech Nutrition to expand organically-bound trace elements for animal feed manufacturers. Product contains high-quality glycinates by BASF which will enhance nutritional value of feed additive, improving poultry vitality in South Asia.
Global Glycinates Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Glycinates Market Size, Share, Development, Growth and Demand Forecast, 2025” are:
• Global Glycinates market is projected to expand with a growth rate of 5.15% during 2018 to 2025. Increasing demand for mineral supplements and healthcare products among the consumers is driving the global glycinates market with the rising opportunities in meat & dairy sector; there has been a shift in the focus of manufacturers towards animal feed. This is also projected to increase the consumption of glycinates in livestock feed.
• Magnesium Glycinates has dominated the market and accounted for the highest market share of 30.26% of the total market in 2017, which is projected to reach over 33.83% by 2025 owing to its usage in pharmaceutical industry. Magnesium glycinates is an essential nutrient which is easier to absorb and is among the gentlest supplement on the stomach.
• Pharmaceutical application is expected to reach around USD 312.26 million by the end of 2025, which is driven by the factors like used in heavy amount, for the production of various mineral enriched medicines and oral care products which drove the market. Growing concern towards the healthcare products and mineral supplements is driving this segment.
• North America is the largest market for glycinates across the globe. The demand for Glycinates in the region is expected to rise with a CAGR of 6.11%, in terms of value, generating revenue of around USD 633.04 million by 2025. China dominates the region with a CAGR of 6.39% during 2018-2025, anticipated to expand owing to increasing demand for glycinates in the emerging economies like India and others due to its usage in livestock feed additives.
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