Flourishing Meat Exports to Bolster Glycine Consumption
Glycine is widely used as a nutritional supplement in animal feed as it regulates all metabolic processes. Increasing meat consumption at a global level and high production of livestock such as swine, broiler, and cattle will account for an upsurge in demand for animal feed additives. Growing meat export across the globe clearly indicates a steep rise in consumption of glycine over the following years. North America holds around a third of the global glycine market value, which is attributed to meat that accounts for nearly 60% of the overall protein consumption in the U.S.
Lucrative Opportunity Resides in Pet Food Industry
In addition to increasing ownership of pet cats and dogs, a growing trend of pet humanization will positively impact the market growth during the forecast period. Pet care spending in the U.S. reached US$ 72.56 Bn in 2018, up from US$ 69.51 Bn in 2017. This indicates that the demand for pet food is also thriving rapidly, majorly driven by increasing spending on pet care and food products by owners.
Agriculture Industry Turning into Attractive Revenue Pocket
Glyphosate is a synthetic amino acid, which is widely used in biocides. Glycine is used as feedstock for production of glyphosate, thus, any changes in demand for glyphosate has a strong and direct effect on the glycine market. Demand for glyphosate is estimated to remain high during the assessment period, owing to growing adoption of herbicide-tolerant (HT) and genetically-modified (GM) crops.
Increasing demand for less tillage as well as no-tillage farming systems is expected to positively influence demand for glyphosate. Glyphosate increases per-hectare yield, in turn, positively impacting farming profitability. Increased emphasis on improving crop yield, growing demand for crop protection solutions in agriculture, and preference towards sophisticated farming practices are other factors impacting demand for glyphosate and consequently, the glycine market.
Growing Pharmaceutical Industry Warrants Strong Demand Growth
In the pharmaceuticals industry, glycine is used as a component of amino acid mixtures for oral and parenteral use. It is used as a re-absorbable amino acid for treatment of diarrhea and animal scours. Glycine is a versatile intermediate used in chemical synthesis of pharmacologically-active compounds. It has antimicrobial preservative properties and has been shown to stabilize vitamin C. Certain pharmaceutical-grade products include glycine to improve gastric absorption of the drug. Other uses include sweetener, emollient, emulsifier, solubilizing agent, stabilizer, and buffer substance in various applications. Therefore, growing pharmaceutical industry is estimated to boost the demand for glycine.
Market Structure Analysis
The global glycine market is estimated to be fairly fragmented, owing to the presence of small-scale and international manufacturers across the regional level. Leading market players account for around half of the market share in the global glycine market. The market players have been focusing on collaboration activities, and on expanding their global footprint to seize major share of the market. For instance, in 2017, Ajinomoto Health & Nutrition North America, Inc. acquired Cambrooke Therapeutics, Inc., a U.S.-based medical foods company that manufactures amino acid products.
The global glycine market is expected to reach US$ 1 Bn by the end of 2029, progressing at a significant CAGR of 4% during 2019 - 2029. Asia Pacific and North America account for prominent value shares in the global market. The food- & feed-grade segment is projected to dominate the global glycine market throughout the forecast period.
Glycine Market - Scope of Report
Persistence Market Research (PMR) recently published a study report on the global glycine market. The report provides detailed valuation on key market dynamics such as drivers, trends, opportunities, and restraints, along with detailed information about the glycine market structure. This market research report presents exclusive facts and figures about how the glycine market will grow over the forecast period.
Key indicators of market growth, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the glycine market over the forecast period.
The study is relevant for stakeholders in the glycine market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the glycine market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the glycine market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro as well as microeconomic factors that are impacting the growth of the glycine market. The study also offers actionable insights based on the future trends in the glycine market. Furthermore, regional players and new entrants in the glycine market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Glycine Market
PMR’s study on the glycine market is divided into four significant segments- grade, application, and region. This report offers comprehensive data and information about important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Glycine Market Report
Glycine Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the glycine market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources are referred by analysts during the evaluation of the glycine market study, which comprise of the facts and figures from World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies operating in the glycine market to make PMR’s projection on growth prospects of the glycine market more accurate and reliable.