Glycine Market Analysis
Glycine is an amino acid that has a single carbon atom as its side chain. It is chemically manufactured by treating ammonia with chloroacetic acid. Glycine is commonly finding its application in treatment of metabolic disorders, metabolic syndrome, sleep problems, stroke, and schizophrenia. It governs the blood sugar level of the body and stimulates the central nervous system's and cell growth. It is an amino acid-producing protein, is used to boost body muscle mass. In addition, it plays a significant part in the pharmaceutical industry. It is used to prevent hazardous effects of drugs and alcohol and support proper functioning of liver and kidney. Moreover, it is used in memory enrichment and cancer prevention. Furthermore, it finds its applications in the treatment of various health-related issues and disorders such as metabolic syndrome, sleep problems, benign prostatic hyperplasia, and stroke.
Key drivers of global glycine market
Glycine is used in dietary additives, protein supplements, and energy drinks as a flavor enhancer and an ingredient. Increase in health-conscious individuals and rise in demand for healthy supplemented food as well as daily protein shakes fuel the demand for glycine, and is proving to be a key factor that boosts the glycine market. Moreover, strong demand for medicines is supplementing the growth of the global glycine market. Glycine is further used for the treatment of metabolic disorders, metabolic syndrome, sleep problems, stroke, and schizophrenia, which significantly contributes toward the growth of the global market. Moreover, increase in awareness about fitness and health is anticipated to augment the global market for glycine during the forecast period.
Market scenario: opportunities and challenges
Glycine majorly finds its applications in human & animal feeds, personal care industry, research & development, chemical feedstock, and pharmaceuticals. Owing to the development of its end-user industries, the overall glycine demand has been witnessing an exponential increase. It is expected that rising demand for meat will serve as a catalyst to further raise the demand for animal feed, thus contributing to the growth of the global market for glycine. In addition, focus on developing the market in emerging nations along with rise in emphasis on research & development initiatives for innovative products is expected to create growth prospects for the growth of the global glycine market. However, volatile price and availability of raw materials are anticipated to impede the market growth.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global glycine market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output from commercial to industrial sector. Recent decline in cosmetic industries are one of the key factors that is likely to negatively impact the growth of glycine market. In addition, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown. However, the demand for glycine in healthcare industry is expected to fuel the market growth.
Key benefits of the report
- This study presents the analytical depiction of the global glycine industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global glycine market share.
- The current market is quantitatively analyzed to highlight the global glycine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global glycine market research report
- Which are the leading market players active in the global glycine market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Glycine Market Report Highlights
By End User
Key Market Players
GEO Specialty Chemicals, Cargill Inc., Showa Denko KK, Ajinomoto Co., ADM, The Dow Chemical Company, Prinova U.S. LLC, Guangrong Chemical, Evonik Industries AG, and Royal DSM
Other Key Market Players
Yuki Gosei Kogyo Co., Ltd, Merck KGaA