Glycine Supplement Market Overview
The Glycine Supplement Market is anticipated to reach USD 81004.56 Million by 2030 at 3.90% CAGR during the forecast period 2022-2030.
Due to increasing demand for wellness and healthcare products, growing geriatric population, a spike in income and GDP, and several diseases caused due to unhealthy lifestyle, the need for glycine supplement market observed a huge surge.
Glycine is an amino acid present in collagen. It is the main structural protein in the connective tissues such as skin, cartilage, tendons, ligaments, and bones. Glycine is also present in cereals, meat, eggs, legumes, etc. Glycine supplement is also beneficial for the treatment of enlarged prostate, metabolic syndrome, insomnia, etc. it is also largely used in animal foods, pharmaceutical drugs, beverage and foods, cosmetics, and several other industrial uses.
Generally, the glycine is prescribed to be consumed after a meal before going to sleep as it has sedentary effects on sleep. Also, consuming glycine in the morning or an empty stomach can cause nausea.
A poorly balanced diet, an increasing number of patients with cardiovascular diseases, consumption of alcohol and other sedentary substance, rise in the growth of the older population around the world, health awareness among people, and eagerness to maintain a healthy lifestyle are expected to influence the global glycine supplement market positively. However, stringent rules and regulations for health safety may hamper the growth of the global glycine supplement market to a certain extent.
COVID-19 Analysis
The COVID-19 disease had a huge impact on the global glycine market. Various pharmaceutical industries faced loss due to the sudden surge in the COVID-19 cases and imposition of lockdown in almost every country around the world. But, the demand for healthcare and wellness products saw a significant growth among the older population. The COVID-19 disease had a huge impact on the older generation, people inclined towards a healthy lifestyle, and the key companies largely manufactured efficient immunity products.
Market Dynamics
Market Drivers
The spike in the number of health-related diseases such as obesity, heart problems, cardiovascular diseases results from living an unhealthy lifestyle and increasing fast food consumption. Unhealthy habits and sedative food consumption leads to a lack of a balanced diet and low immunity. The growing prevalence of cardiovascular diseases is projected to drive the global glycine supplementmarket. Also, the increasing population of the older generation, increasing awareness for health and wellness, living a healthy and balanced life are some factors projected to drive the market.
Market Restraints
With the growing demand for glycine supplements, the rules and regulations by the authorities are expected to hinder the growth of the market. Due to rising safety concerns regarding the consumption of such glycine supplements, many fake products can have severe side effects on the patients. The stringent rules help eliminate those products but may cause delays for the genuine product to get available in the market.
Also, the demand for glycine supplements can cause rise prices which may also act as a major restraint for the global glycine supplements market.
Challenges
The global glycine supplements market is also expected to face the challenge to thrive because of the higher costs. The key players may encounter the regulatory authorities' ` delay or rejection to get approval for manufacture and finally launch the product to the market. Huge competition among the key players may also increase the production of fake products that can cause severe side effects to consumer health.
Opportunities
As per reports by the World health organization (WHO), around 197.9 million people lost their lives due to cardiovascular diseases, consisting of 31% of deaths worldwide. Several companies are constantly competing with each other to manufacture and develop better services and technological devices to treat cardiovascular disease. Also, according to reports by World Population Ageing Report, about 962 million people were over above the age of 60. Hence, the increasing pervasiveness of such diseases, especially among the older generation, will be a huge opportunity for the global market of glycine supplements to propel.
Cumulative Growth Analysis
The global market of glycine supplements is projected to have a comprehensive growth rate (CAGR) of 5.75% during the forecast period of 2018-2025. The growing demand for wellness products, increasing geriatric population, sedentary lifestyle have led to the market growth of glycine supplements. A major rise in the need for glycine supplements in the Americas has accounted the largest share. The values presented here may increase or decrease depending upon the market strata in the forthcoming years.
Value Chain Analysis
The increasing geriatric population is among the natural and primary causes that can add more value and potential to the global glycine supplement market to propel. In a few years, technological advancements, improvements in products, and the preference to live a healthy lifestyle will have a massive positive impact on the market growth.
Segment Overviews
The global market of glycine supplements is segmented into three categories- application, distribution channel, and dosage form.
Based on application, the market of glycine supplements is bifurcated into joint and bone health, cardiovascular diseases, and others.
By distribution channel, the market is further divided into online stores, retail stores, and others.
By dosage, the glycine supplements market is segmented into liquid and solid.
Regional Analysis
Geographically, the global glycine supplement market is divided into Europe, the Americas, Asia-Pacific, and the Middle East and Africa.
It is estimated that the Americas will dominate the global glycine supplement market during the forecast period. The rising awareness regarding health and self-care among many people and the increasing demand for health supplements are expected to drive the glycine supplements market in North and Latin American countries. Intake of glycine supplements also enhances memory, sleep, and mood, which will be beneficial factors for the market too.
Asia-Pacific region is anticipated to experience the fastest growth in the global glycine supplement market. The growing preference to eat healthy foods and living a healthy lifestyle, growing aged population are expected causes to influence the market growth.
The European regions account for a significant market share in the glycine supplements. The market growth is caused by increasing population, improvement in lifestyle, shit in preference for buying healthy goods, etc. are some drivers to boost the market.
It is expected that the glycine supplement market in the Middle East and African region will register a steady growth. It is primarily because of limited access to a proper healthcare facility that may hamper the market. But, rising health awareness about health and personal care among people is projected to propel the market during the forecast period.
Competitive Landscape
The global glycine supplement market is largely scattered. Several companies use different strategies to expand their business worldwide and generate more revenue. These companies include HVMN Inc., Source Naturals, Now Foods, etc. They use different market strategies such as mergers, acquisitions, joint ventures, collaborations, lunch of new products, etc.
Here is the list of some competitive companies-
Report Overview
The global market of glycine supplement market gives various information and insights regarding the forecast. The report overview of the same is as follows-
Report Score and Segmentation
The report's scope is to give information and highlight the potential and growth of the global Glycine Supplement Market. It also provides some knowledge of the key market players and their contribution to the market.
Segmentation Table-
By Region
Glycine Supplement Market Highlights:
Frequently Asked Questions (FAQ) :
glycine supplement market would attain a CAGR of 3.90% during the forecast period.
The valuation would be USD 81004.56 Million.
The distribution channels are online stores, retail stores, and others.
The segments are cardiovascular diseases, joint & bone health, sleep problems, and others.
The Americas would dominate the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
