Analyst Perspective
The global glycine market is expected to register a CAGR of 3.4%. The glycine market is expected to grow in the forecasted period, driven by growing demand from the food and beverage industry, increasing pharmaceutical use, and rising disposable incomes. Glycine has a wide range of applications beyond traditional uses. Growth in sectors like personal care, nutraceuticals, and pesticides provides avenues for market expansion. Technological advancements, rising disposable incomes, and a focus on health and wellness are significant opportunities for the growth of the glycine market. Volatile pricing, intense competition, and regulatory hurdles are significant challenges that may hamper glycine market growth.
Market Overview
Glycine is a sweet-tasting amino acid naturally present in protein-rich foods like fish, meat, and dairy. It is produced commercially through reactions involving chloroacetic acid and ammonia or the Strecker amino acid synthesis method. Glycine is gaining significant traction in the pharmaceutical industry, driving the surge in market demand. Its versatile nature allows for both oral and injectable applications. In pharmaceutical-grade products, glycine enhances absorption, acting as sweeteners, emollients, emulsifiers, solubilizing agents, and stabilizers. The rising disposable incomes and changing lifestyles in developing countries lead to a greater demand for processed foods, beverages, and cosmetic products, indirectly driving the demand for glycine. Technological advancements in glycine production lead to lower production costs and high purity levels, making glycine more accessible and attractive to users.
Market Drivers
- Glycine is used as a sweetener, flavor enhancer, and bulking agent in various food and beverage products, such as soft drinks, juices, and ice cream. The rising demand for processed foods and beverages, particularly in emerging economies, is driving the growth of the glycine market.
- Glycine is used in various pharmaceutical applications, such as the production of bile acid sequestrants, which are used to lower cholesterol levels, and as a co-solvent in some injectable drugs. The rising aging population and the increasing prevalence of chronic diseases are expected to boost the demand for glycine in the pharmaceutical industry.
- Glycine is used in various cosmetic and personal care products, such as soaps, shampoos, and lotions, as a humectant and a skin conditioning agent. The growing demand for natural and organic personal care products is driving the use of glycine in the industry.
Market Segmentation
The global glycine market is segmented based on grade, application, and end-use. The global glycine market is segmented based on grade into food grade, pharmaceutical grade, and technical grade. The glycine market is segmented based on application into feed and food additives, pH buffers and stabilizers, pharmaceutical ingredients, chemical intermediates, and others. The glycine market is segmented based on end-use into food & beverages, cosmetics & personal care, pharmaceuticals, chemical intermediate, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It gives an overview and forecast of the global glycine market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The glycine market by region is also sub-segmented by respective countries and segments. The glycine market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the glycine market from both the demand and supply sides. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the glycine market in these regions.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the glycine market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the glycine market are anticipated to have lucrative growth opportunities with the growing demand from the personal care and cosmetics industry in the global market.
The report includes key companies' profiles, SWOT analysis, and glycine market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies engaged in the glycine market.
- Ajinomoto
- Chattem Chemicals
- Phion Ltd
- Amino GMBH
- Geo Speciality Chemicals
- Yuki Gosei Kogyo
- Evonik Industries
- Premium Ingredients
- Merck
- Showa Denko