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Glycinates Market Analysis, Size & Forecast 2024-2033
Glycinates Market Analysis
According to The Business Research Company's, The glycinates market size has grown strongly in recent years. It will grow from $1.23 billion in 2023 to $1.31 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to growth in demand in food supplements, nutritional fortification trend, expanding pharmaceutical industry, rise in cosmetics and personal care demand, animal feed applications..
The glycinates market size is expected to see strong growth in the next few years. It will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to continued nutraceutical trends, advancements in cosmetic formulations, expansion of pharmaceutical applications, focus on sustainable ingredients, livestock production growth.. Major trends in the forecast period include focus on sustainable and non-allergenic sources, innovation in glycinates for skincare, development of glycinate complexes for agriculture, advancements in production technologies, collaborations for research on glycinate applications..
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Market Drivers and Trends:
Rising demands for nutritional supplements are expected to propel the growth of the glycinates market going forward. Nutritional supplements refer to products meant to enhance the diet. Dietary supplements can be any vitamin, mineral, herbal remedy, or other ingestible preparation added to the diet to promote health. Ingestion of supplements helps to ensure people receive the necessary amounts of important nutrients and to maintain or improve their health. Glycinates are used as supplements that can boost health in various ways. For instance, in January 2022, VitaFood Insights, a UK- based community-powered knowledge platform to help the nutraceutical industry, published that the U.S. sales of supplements increased by 3.2% to $60.57 billion in 2022. Therefore, the rising demand for nutritional supplements is driving the growth of the glycinates market.
Major companies operating in the glycinates market are focusing on developing innovative solutions such as glycinate surfactants. Glycinate surfactants typically refer to a class of surfactants known as amino acid-based surfactants. For instance, in July 2021, Jarchem Innovative Ingredients LLC, a US-based innovative ingredients manufacturing company, announced the launch of 'Aminosyl Glycinates'. These glycinates are mild anionic surfactants that offers creamy lather and rich foam. The components can serve as a key moisturizing surfactant, purportedly leaving the skin with a sensation of refreshment and softness.
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Major Key Players of the Market:
BASF SE; Solvay S.A.; Ajinomoto Co. Inc.; Clariant AG; Albion Laboratories; Aditya Chemicals; Pancosma SA; Dunstan nutrition; Innospec Inc.; Pharmavit; Schaumann Agri International GmbH; Shijiazhuang Donghua Jinlong Chemical; Aliphos Rotterdam B.V.; Chaitanya Chemicals; Provit; PAT IMPEX chemical India; Jost Chemical Co.; H. Wilhelm Schaumann GmbH; Evonik Industries AG; Glanbia plc; Albion Minerals; Galaxy Surfactants Ltd.; Provitamins GmbH; Fuerst Day Lawson Ltd.; Sisco Research Laboratories Pvt. Ltd.; Supplement Co. Ltd.; FBC Industries Inc.; Vital Pharmaceuticals Inc.; Chaitanya Agro Biotech Pvt. Ltd.; Prinova Group LLC
Glycinates Market 2024 Key Insights:
• The glycinates market will grow to $1.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Glycinates Market Grows With Escalating Nutritional Supplement Needs
• Major Companies Embraces Glycinate Surfactants In The Glycinates Market
• North America was the largest region in the global glycinates market in 2023
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