Glycine Market Research Report - Forecast till 2023: —
Glycine also known as Gly, is a naturally available substance which is helpful in healthy functioning of the kidney, liver, and vascular health. Additionally, glycine also serves a wide range of application such as in food and beverages glycine acts as a sweetener/taste enhancer, in animal feed and pet food is added as an additive, or as a component of food supplements and also in protein drinks. Besides, the product has successful penetration in cosmetics and pharmaceuticals.
Needless to say, that due to a wide range of application areas, Glycine witnesses a huge market prominence, globally. Augmenting demand for the glycine from the major end-use industries is the primary factor driving the growth of the market. Moreover, the processed food market that is witnessing a considerable growth rate due to the rising demand for easy & ready to cook food and fast food, worldwide, is escalating the market on the global platform.
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Acknowledging the constant upsurge, the market is witnessing, Market Research Future (MRFR) in its recently published analysis asserts that the global glycine market will garner exponential accruals by 2023 posting a significant CAGR throughout the review period (2018 to 2023). The increasing consumption of animal food products such as meat, milk, and eggs among others, is projected to grow further on account of increasing demand for the protein-rich diet.
Additional factors such as the constant rise in the new food concepts such as “free food” and “rush-hour foods” on the backdrop of changing socio-economic scenario are anticipated to boost the demand for glycine in the coming years. The ever-increasing population that is continually dictating the demand for food alongside the improving economic conditions, worldwide that are playing a vital role in improving the standard of living are fostering the growth of the glycine market.
Glycine Market - Segments
For enhanced understanding, the market has been segmented into three key dynamics: -
By Grade : Food Grade, Pharmaceutical Grade, and Technical Grade among others.
By the Application : Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, and Chemical Intermediate among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Glycine Market - Geographical Analysis
The Asia Pacific region, heading with the presence of dynamically emerging countries such as India, Japan, China, Singapore, and South Korea dominates the global glycine market with a significant share. Rapid industrialization alongside the ever-increasing population that is dictating the demand in the already burgeoning food & beverages industry is fostering the growth of glycine market in the region.
The improving economy in the region is playing a vital role in the growth of the market, improving the standard of living. Rapidly developing countries such as India and China perceive a substantial increase in various sectors such as cosmetics & personal care, pharmaceuticals, and chemical intermediate which, in turn, substantiates the growth of the glycine market in the region. Furthermore, the presence of numerous significant producers of glycine in the region propels the growth of the market, creating new opportunities for the extension.
Although the North American region is the largest market in the global glycine market, in terms of the size, the market is witnessing a sluggish demand since past few months. The U.S backed by a massive demand for packaged food and meat products leads the market in this region. Also, factors such as the presence of a large number of industries using the glycine at a large scale are boosting the growth of the market, creating a stronghold in the market.
The glycine market in the European region accounts for another substantial market, globally. Some of the European countries such as the U.K, France, Germany, and Switzerland are majorly contributing to the growth of the regional market. However, sluggish growth of the end-user industries will make the market to witness moderate growth during the forecast period.
Personal care products and pharmaceutical industries in countries such as France, Germany, Norway, and Sweden among others are acting as a key driving force accelerating the market in the region.
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Glycine Market - Competitive Landscape
Highly competitive, the glycine market appears to be fragmented due to the presence of numerous companies. Constant technological advancements generate strong investment opportunities in the market. Manufacturers strive to commercialize novel techniques that can lower the production cost.
They also try to attain expertise in developing techniques, managing supply chains and in-depth domain knowledge in many advanced materials in addition to the current strategic initiatives such as partnership, acquisition, and expansion of manufacturing facilities to gain a competitive advantage in the market.
GEO Specialty Chemicals, Inc.
Chattem Chemicals, Inc.
Evonik Industries AG
Ajinomoto North America, Inc.
Advance Chemical Sales Corporation
February 19, 2019 --- VistaGen Therapeutics (the US), a clinical-stage biopharmaceutical company announced the receiving of a Japanese Patent AV-101 for treatment of depression and hyperalgesia. The patent is issued by the Japan Patent Office (JPO) for methods of treating depression with AV-101. VistaGen’s oral NMDA receptor glycine site antagonist in Phase 2 development for the treatment of the major depressive disorder (JP 6436913B).
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