Increasing global meat consumption coupled with the rising livestock production, increasing demand for personal care products such as cosmetics and the growth of the global pharmaceutical industry coupled with the rising applications of glycine in the use of pharma industry are the major factors propelling the growth of the global glycine market.
The growing market for global beef and veal production is a major factor boosting the global glycine market. Glycine provides essential protein, fibre, and energy to the livestock in the form of feed additives, which results in increased yield and also helps save costs incurred on adding additional protein and supplement additives. According to the statistics published by the US department of Agriculture, the global beef and veal production increased from 59,710 tons in 2015 to 60,478 tons in 2016. This value increased to 61,624 tons in 2017 finally reaching 62,878 tons in 2018. Owing to these factors, the global glycine market is anticipated to grow at a healthy rate in the future
However, volatility in raw material prices and stringent regulations imposed by the trade organizations upon the trade and consumption of glycine and glycine products might hamper the growth of the global glycine market in the future.
Market Segmentation
By grade
• Food grade
• Technical grade
• Pharmaceutical grade
By Application
• Food and beverage industry
• Cosmetic industry
• Pharmaceutical industry
• Chemical industry
Geographical Analysis
The Global Glycine Market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. The Asia Pacific region is further segmented into the countries such as China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The Asia Pacific region is the dominant segment in the Glycine Market owing to the high agricultural outputs in countries such as China, India, and Japan and the flourishing personal care industry in the Asia Pacific region.
According to the statistics published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), during the period 2013-2017 the Chinese and Indian pharma markets grew by 9.4% and 11.0% respectively compared to an average market growth of 4.4% for the top 5 European Union markets and 7.3% for the US market. Furthermore, high agricultural outputs from countries such as China is another major factor contributing to the growth of the market. According to the China statistical yearbook, the total sown area of farm crops increased from 165446 million hectares in 2014 to 166374 million hectares in 2016 finally reaching 166650 million hectares in 2017. Owing to these reasons, the Asia Pacific region is anticipated to dominate the Global Glycine Market in the future.
Competitive Analysis
New product launches, expansion of facilities, mergers and acquisitions and strategic partnerships are vital strategies adopted by most of the companies to contribute to the growth of the company and improve their market growth rate.
For instance, in April 2019, Henderson launched a new product HyperGH 14X, all-natural HGH supplement system intended for bodybuilding and sports performance enthusiasts. The key ingredients of the product which make it unique are Ingredients includes are L-Tyrosine, L-Lysine, L-Glycine, L-Glutamine, L-Arginine, GTF Chromium, L-Ornithine, Phosphatidylcholine, Pituitary Powder, L-Valine, Colostrum, Gaba, Deer Antler Velvet, Astragalus Root Extract, and Tribulus Terrestris Extract.
