The global Glycine market worth US$ 1050 Mn by 2032, growing at a CAGR of 5%
Some of the major factors predictable of driving the glycine market growth over the forecast period (2018-2025) include growing demand for medicines in mental disorders, strokes, benign prostatic hyperplasia as well as kidney treatment. Moreover, glycine supports prevention of kidney from harmful effects of alcohol and drugs. On the other hand, risks of deflating prices, imposition of additional levies including antidumping duties and fluctuating in raw-material costs are some factors restraining glycine market growth.
The global glycine market has been segmented by different grade, application and geography. Further grade segment of the market is sub-divided to pharmaceutical grade, food grade and technical grade. Likewise application segment of the global glycine market is sub-segmented to cosmetics & personal care, food & beverages, chemical intermediate, pharmaceuticals and others. Geographically, the market glycine is spanned across several key regions, covering North America, Asia Pacific, Europe, Latin America and Middle East & Africa.
In addition, Asia-Pacific is one of the fastest growing glycine market because of the presence of dynamic as well as emerging countries in the region like Japan, India, Singapore, China and South Korea. Moreover, China and India are the lead with maximum glycine market share in the region owing to increasing demand for the product in developing applications. Moreover, North America is leading the market of glycine across the globe, however since past few years regional market is witnessing sluggish development because of the slow demand. Besides the regional market is led by the U.S owing to the substantial demand for packaged food as well as meat products, with the rising business of foods & beverages.
Another significant market of in glycine is Europe, however the region is expected to witness a restrained growth over the forecast period because of slow growth of several end user industries as well as economic slowdown. Further, Latin America is anticipated to record a significant CAGR due to stimulating economy as well as high growth potential of Brazil & Mexico. The Middle East & African region are also set to develop at a significant CAGR on account of the enormous growth prospects from key end-use industries for instance foods & beverages in the region.
The key players operating in the global glycine market include Inc. (U.S.), Chattem Chemicals, GEO Specialty Chemicals Inc. (U.S.), Triveni Chemicals (India), Evonik Industries AG (Germany), AMINO GmbH (Germany), Advance Chemical Sales Corporation (India), Ajinomoto North America Inc. (U.S.), among others.
Glycine Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||Grade, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Chattem Chemicals, GEO Specialty Chemicals Inc. (U.S.), Triveni Chemicals (India), Evonik Industries AG (Germany), AMINO GmbH (Germany), Advance Chemical Sales Corporation (India), Ajinomoto North America Inc. (U.S.).|
Key segments of global glycine market include:
- Grade Segment
- Pharmaceutical grade
- Food grade
- Technical grade
- Application Segment
- Cosmetics & personal care
- Food & beverages
- Chemical intermediate
- Geographical Segment
- North America
- Asia Pacific
- Latin America
- Middle East & Africa.