ID: MRFR/CnM/3769-HCR | February 2021 | Region: Global | 140 pages
Glycine Market is projected to register a CAGR of 3.9% during the forecast period.
Glycine, also known as amino-acetic acid, possesses the lowest molecular weight among all amino acids. It forms the basic building block of proteins, thus is naturally found in various food products such as beans, fish, meat, milk, and cheese. Apart from natural abundance of glycine, it can be used in wide range of applications such as in nutritive supplements, herbicides, cosmetics, and as a flavoring in soft drinks.
Glycine has proven to be vital for maintaining digestive and nervous system functioning and shown potential therapeutic effects. Thus, find a wide variety of applications in medical arenas. This is likely to drive the global market in the pharmaceutical sector. For instance, glycine acts as an inhibitory neurotransmitter to prevent epileptic seizures. It is also used to treat cystic fibrosis, benign prostatic hyperplasia, and some rare inherited mental disorders. In addition, on account of its sweet taste, it is also used a flavoring in soft drinks and juice concentrates in the food and beverage industry, thereby fueling the market growth globally.
Furthermore, the increasing use of glycine in various personal care products such as antiperspirants and cosmetics is further creating lucrative opportunities for players operating in the global glycine market. Additionally, the increasing use of glycine in agrochemical-market-749'>agrochemical and animal feed industries is further expected to propel the market growth.
However, certain side effects of glycine such as nausea, mild dizziness, and mild wheezing are likely to limit the growth worldwide.
Global Glycine Market Share, by End Use Industry, 2018 (%)
Source: MRFR Analysis
The Global Glycine has been analyzed for five major regions—North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa.
Asia-Pacific held a dominant market share in 2018 and is expected to show its dominance during the forecast period. The is primarily attributed to the increasing demand for the product in expanding end use industry primarily pharmaceutical and food & beverage. China, followed by India and other South-East Asian countries, is cementing the leading position in the region on account of the growing geriatric population and rapidly growing pharmaceutical industries. For instance, according to India Brand Equity Foundation (IBEF), the Indian pharmaceutical sector in 2017 was valued USD 33 billion and is expected register a CAGR of 22.4 % over 2015-2020; this is likely to drive the demand for glycine in the pharmaceutical industry. Moreover, the increasing demand for agrochemicals owing to the presence of vast arable lands in the region is further augmenting the growth of the regional market.
The North American market accounted for a high market share in 2018 owing to the increased demand for the product in developed pharmaceutical industries in the region. The US, followed by Canada, is the leading country due to the presence of major key players such as Geo Specialty Chemicals, Chattem Chemicals and Ajinomoto in the region.
The European market is also expected to register significant growth during the forecast period due to the extensive use of glycine such as in medical and cosmetic applications. Major contributors to the regional market are Germany, the UK, France, and Switzerland
The glycine market in Latin America and the Middle East & Africa are expected to show high growth during the forecast period owing to the rising industrialization in the region.
Glycine Market Segmentation
Market Research Future segments the global glycine-based on grade, end-use industry, and region.
Based on grade, the market has been divided into food grade, pharmaceutical grade, and technical grade.
On the basis of end use industry, the Global Glycine Market has been categorized into food & beverages, cosmetics & personal care, pharmaceuticals, agrochemical, and others.
Regionally, the market is spanned across five key regions, including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
SHOWA DENKO K.K.(Japan), Chattem Chemicals, Inc. (US), GEO Specialty Chemicals, Inc. (US), Evonik Industries AG (Germany), Ajinomoto Health & Nutrition North America, Inc. (US), AMINO GmbH (Germany), YUKI GOSEI KOGYO CO., LTD (Japan), Advance Chemical Sales Corporation (India), Triveni Chemicals (India), and Aditya Chemicals (India).
|Market Size||USD 33 Billion (2015-2020)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Grade, End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SHOWA DENKO K.K.(Japan), Chattem Chemicals, Inc. (US), GEO Specialty Chemicals, Inc. (US), Evonik Industries AG (Germany), Ajinomoto Health & Nutrition North America, Inc. (US), AMINO GmbH (Germany), YUKI GOSEI KOGYO CO., LTD (Japan), Advance Chemical Sales Corporation (India), Triveni Chemicals (India), and Aditya Chemicals (India).|
|Key Market Opportunities||The glycine market in Latin America and the Middle East & Africa are expected to show high growth during the forecast period owing to the rising industrialization in the region.|
|Key Market Drivers||Increasing demand for pharmaceutical supplements to counteract deficiencies is likely to be the major driver for the glycine market.|
Frequently Asked Questions (FAQ) :
Glycine is an amino acid and is the amino acid with the smallest molecular weight. It has functions in the upkeep of the digestive and nervous systems.
Increasing demand for pharmaceutical supplements to counteract deficiencies is likely to be the major driver for the glycine market.
The glycine market is expected to exhibit a strong 3.9% CAGR over the forecast period.
The pharmaceutical industry holds the largest share in the global glycine market, at 39%.
The leading regional market for glycine is Asia Pacific. The growing pharmaceutical sector in India and China is likely to be a major driver for the glycine market.