The sales in the global glycine market are anticipated to surpass a valuation of USD 700 Million by 2022, rising at a CAGR of around 4% to 5% during the forecast period 2022 to 2032. The demand for glycine is expected to reach USD 1050 Million by the end of 2032, in comparison to the USD 660 Million registered in the year 2021. North America is expected to account for nearly 1/3rd of glycine sales through 2032.
| Report Attribute | Details |
|---|---|
| Glycine Market Base Year Value (2021) | USD 660 Million |
| Glycine Market Expected Value (2022) | USD 700 Million |
| Glycine Market Anticipated Value (2032) | USD 1050 Million |
| Glycine Market Projected Growth Rate (2022 to 2032) | 4% to 5% CAGR |
| Glycine Estimated Sales Across North America Market (2022) | 33% |
Glycine, also referred to as gly, is the simplest amino acid having a single hydrogen atom and is available in large quantity naturally. It is colorless transparent solid with sweet sugared flavored which is water soluble amino acid. Glycine is considered as the building blocks of proteins and is used as amino acids to produce proteins in the human body.
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Due to the increasing consumption of meat and growing usage of products made using animal such as wool, leather, horn, and others, a significant rise in population of cattle such as sheep, goat, buffalo, and others is being witnessed across the globe.
For instance, as per a study by the Department of Animal Husbandry and Dairying, the population of sheep, goats, and cows reached 74.26 Million, 148.88 Million, and 145.91 Million were registered across India respectively in the years 2019. As glycine is increasingly used as a nutritional supplement in the animal feed sector, owing to its ability to regulate all metabolic processes, growing population of cattle is expected to bolster the sales in the global market.
Also, the governments of several countries are emphasizing on undertaking a number of initiatives to increase the population and raise the breeding activities of cattle, which is further, estimated to augment the demand for glycine in the market.
There are numerous side effects associated with the use and consumption of glycine such as nausea, drowsiness, vomiting, stomach upset, and diarrhea. This is discouraging end users to use glycine in their products such as animal feeds, food & beverage products, dietary supplements, and others, which is in turn, hindering the growth in the global market.
In addition to this presence of alternatives such as arginine and other solubilizing agents, emulsifier, and sweeteners across cosmetics and food & beverage sectors is impeding the sales of glycine in the market.
North America is estimated to account for a significant share in the global glycine market between 2022 and 2032, states Future Market Insights.
Due to growing adoption of sundry lifestyles and changing eating habits, there is a swift rise in metabolic syndrome and sleep problems, resulting in fueling the demand for associated treatment and medications.
For instance, according to the American Sleep Association, approximately 50 to 70 million people across the USA have sleep disorders, out of which 25 Million of the adults suffers from obstructive sleep apnea. As glycine is extensively used in the formulation of medication for the aforementioned diseases, growing burden of sleep problems is expected to accelerate the demand in the global market.
As per FMI, South Asia is projected to register growth at a rapid CAGR in the global glycine market during the forecast period 2022 to 2032,
Glycine is gaining huge popularity across the pharmaceutical industry owing to its antimicrobial properties. It is widely being employed in the treatment of numerous mental disorders, such as schizophrenia.
Furthermore, growing usage of glycine as additional therapeutics for protecting kidneys from side effects, caused post the consumption of specific drugs after the organ transplantation is favoring the sales. Hence, increasing number of organ transplantation procedures across the countries such as China, Japan, South Korea, and others is anticipated to augment the growth in the South Asia market.
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Some of the leading players in the glycine market are Ajinomoto, GEO Specialty Chemicals, Yuki Gosei Kogyo, Guangrong Chemical, Showa Denko KK, Chattem Chemicals, Evonik, Paras Intermediates Private Limited, Linxi Hongtai, Shijiazhuang Donghua Jinlong Chemical, Zhenxing Chemical, Hebei Donghua Jiheng Chemical, Hubei Xingfa Chemicals Group, and others.
Leading participants in the glycine market are focusing at adopting capacity expansion, collaboration, mergers & acquisitions strategies to gain edge in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% to 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Grade, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Companies Profiled | Ajinomoto; GEO Specialty Chemicals; Yuki Gosei Kogyo; Guangrong Chemical; Showa Denko KK; Chattem Chemicals; Evonik; Paras Intermediates Private Limited; Linxi Hongtai; Shijiazhuang Donghua Jinlong Chemical; Zhenxing Chemical; Hebei Donghua Jiheng Chemical; Hubei Xingfa Chemicals Group; Others |
| Customization | Available Upon Request |
FMI projects the demand for glycine market to expand at 4% to 5% value CAGR over the forecast period 2022 to 2032.
The glycine market is dominated by North America, and this trend is projected to continue for the assessment period.
Ajinomoto, GEO Specialty Chemicals, Yuki Gosei Kogyo, Guangrong Chemical, Showa Denko KK, Chattem Chemicals, Evonik, Paras Intermediates Private Limited, Linxi Hongtai, Shijiazhuang Donghua Jinlong Chemical, Zhenxing Chemical, Hebei Donghua Jiheng Chemical, Hubei Xingfa Chemicals Group, and others are some key glycine manufacturer.
| Market Expected Value (2022) | USD 500 Million |
|---|---|
| Market Anticipated Value (2032) | USD 1000 Million |
| Market Growth Rate (2022 to 2032) | 8% to 9% CAGR |
| Market Size Value in 2022 | USD 1,118.5 Million |
|---|---|
| Market Forecast Value in 2032 | USD 1,892.5 Million |
| Market Growth Rate (2022 to 2032) | 5.4% CAGR |
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