Glycine Market 2018-2023 | Global Key Player; Chattem Chemicals, Inc., GEO Specialty Chemicals, Inc., Evonik Industries AG, Triveni Chemicals, Ajinomoto North America, Inc., AMINO GmbH, Advance Chemical Sales Corporation

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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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:

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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Key Players

 Chattem Chemicals, Inc.
 GEO Specialty Chemicals, Inc.
 Evonik Industries AG
 Triveni Chemicals
 Ajinomoto North America, Inc.
 AMINO GmbH
 Advance Chemical Sales Corporation

Intended Audience

• Glycine Manufacturers
• Traders and distributors of glycine
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratory

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