Glycine Market Size Analysis, Growth Drivers, Share, and Business Opportunities 2020 to 2026

Posted on Sep 17 2020 10:56 AM

"Glycine Market Size, Share & Industry Analysis, By Grade (Pharmaceutical Grade , Food Grade, Technical Grade), By Application (Feed and food additive, pH buffers and stabilizers, Pharmaceutical ingredient, Chemical intermediate, Other), By End-Use Industry (Pharmaceutical, Agrochemicals, Food & Feed, Cosmetics, Research, Other) Others and Regional Forecast, 2019-2026 "

The global glycine market is set to gain impetus from its ever-increasing usage in the pharmaceutical industry.

Glycine is nowadays utilized for healing wounds and treating leg ulcers. At the same time, it is being used as a memory enhancer. It is capable of reducing anxiety. The Anxiety & Depression Association of America mentioned that in the U.S. alone, anxiety has affected approximately 40 million people belonging to the age group of 18 years and above. But, out of those people, only 36.9% receive treatment. This proves that anxiety disorder is increasing at a fast pace in several countries worldwide, especially among the youngsters. It is further resulting in a surge in the number of people consuming medicines for anxiety. Hence, the demand for glycine is upsurging day by day. These factors are expected to propel the glycine market growth in the coming years.

It is very effective for treating metabolic syndrome, stroke, sleep disorder, and schizophrenia. Glycine is also helpful in the treatment of rare inherited metabolic disorders. Fortune Business Insights™ provided this information in an upcoming report, titled, “Glycine Market Size, Share & Industry Analysis, By Grade (Pharmaceutical Grade , Food Grade, Technical Grade), By Application (Feed and food additive, pH buffers and stabilizers, Pharmaceutical ingredient, Chemical intermediate, Other), By End-Use Industry (Pharmaceutical, Agrochemicals, Food & Feed, Cosmetics, Research, Other) Others and Regional Forecast, 2019-2026.”

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This Report Answers the Following Questions:

  • What are the market growth drivers, dynamics, and hindrances?
  • Which companies are in the top-most position in terms of revenue?
  • Which segment is anticipated to lead the market in terms of share?
  • What are the vital strategies adopted by key companies to generate more sales?
  • How will the COVID-19 pandemic affect the market in the near future?

Drivers & Restraints-

Rising Prevalence of Anxiety Disorders to Boost Growth

However, the manufacturing process of glycine goes through a large number of stringent laws and regulations, such as Good Manufacturing Practices by the U.S. FDA. In addition to that, several manufacturers are striving to maintain appropriate purity of their in-house products to keep up with the Japan Food Additive, United States Pharmacopeia, and other similar standards. Lastly, the availability of numerous other effective substitutes of glycine may hamper the market growth.

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Regional Analysis-

Rising Consumption of Meat to Favor Growth in Europe

In terms of geography, Europe and North America currently hold the major glycine market share, followed by Asia Pacific. In the coming years, North America is anticipated to grow moderately because of the steady growth of the pharmaceutical industry in this region. Europe would adopt a similar trend as the consumption of ready-to-eat food items and meat is rising day by day in this region. It would increase the application of glycine for feed and food additive application.

Asia Pacific, on the other hand, is expected to be the fastest-growing market owing to the major contributions by the developing countries, such as India and China. China is considered to be the largest producers and exporters of glycine. In Latin America, the constant political and social instability would cause a decline in the growth of the market. The Middle East and Africa would grow considerably backed by the rising developments in the pharmaceutical industry.

Competitive Landscape-

Key Companies Focus on Acquisition Strategy to Intensify Competition

The market houses several companies that are presently focusing on either acquisition or price escalation strategies to surge sales and gain more consumers. Some of the others are also investing in research and development activities to launch new products as per the give guidelines by the ruling bodies. Below are a couple of the latest industry developments:

  • September 2019: Geo Specialty Chemicals, a provider of a wide range of specialty chemicals was acquired by a private equity firm called Arsenal Capital Partners. This acquisition would help Arsenal in strengthening its position in the market.
  • May 2019: The healthcare division of Evonik Industries named Evonik Nutrition & Care GmbH declared that it surged the prices of glycine by 12%. Right from 1st July, 2019, the new prices will be effective. The company’s decision was based of the rising cost of raw materials.

Fortune Business Insights™ presents a list of all prominent companies operating in the market. They are as follows:

  • GEO Specialty Chemicals
  • Ajinomoto Co., Inc.
  • Evonik Nutrition & Care GmbH
  • Showa Denko KK
  • Nantong Guangrong Chemical Co., Ltd.
  • Paras Intermediates Private Limited
  • Shandong Zhenxing Chemical Industry Co., Ltd.
  • Hebei Donghua Jiheng Chemical Co. Ltd.
  • Salvi Chemical Industries Ltd.
  • Other prominent companies

Browse Complete Summary of research Report:

Research Methodology

The report offers a detailed evaluation of chemicals and their demand by highlighting information on several aspects which include drivers, trends, opportunities, and challenges. In addition to this, it sheds light on industry developments by key players, helping the industry to expand. Information given in the article consists of technological advancements to analyze the industry meticulously and offer a better understanding to its readers. These advancements will help companies to stay abreast in terms of competition. Companies are planning to adopt several strategies to stay ahead of others. These strategies include: mergers and acquisitions, partnerships, collaborations, new product developments among others.  The information gathered through primary and secondary sources, comprises of interviews from several industry experts and professionals. Secondary sources such as press releases, information from recognized institutes, and other collaterals are used to analyze the industry. Further, top-down and bottom-up approaches are used to provide a 360-degree view.

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