According to the new market research report “Glycine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Glycine market size is projected to reach USD 1.64 billion by 2029, at a CAGR of 3.1% during the forecast period.
- Global Glycine MarketSize(US$ Million), 2018-2029
Source: QYResearch, "Glycine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030 "
- Global Glycine Top10Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "Glycine- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030 "
According to QYResearch Top Players Research Center, the global key manufacturers of Glycine include Shijiazhuang Donghua Jinlong Chemical, Hebei Donghua Jiheng Chemical, Hubei Xingfa Chemicals Group, Ajinomoto, Resonac, Newtrend Group, Yuki Gosei Kogyo, GEO Specialty Chemicals, Kumar Industries, Henan HDF Chemical, etc. In 2022, the global top 10 players had a share approximately 83.0% in terms of revenue.
Market Drivers:
As glycine is increasingly used as a nutritional supplement in the animal feed sector, owing to its ability to regulate all metabolic processes, growing population of cattle is expected to bolster the sales in the global market.
Also, the governments of several countries are emphasizing on undertaking a number of initiatives to increase the population and raise the breeding activities of cattle, which is further, estimated to augment the demand for glycine in the market.
Restraint:
One significant restraint in the glycine market revolves around the challenges associated with the production process. Glycine is primarily manufactured through chemical synthesis, with the conventional method involving the use of chloroacetic acid. The production of chloroacetic acid is energy-intensive and generates potentially hazardous by-products, contributing to environmental concerns. Additionally, the dependence on petrochemical feedstocks for glycine synthesis raises sustainability issues and exposes the market to fluctuations in raw material prices. As global industries increasingly prioritize environmentally friendly practices, the glycine market may face pressure to adopt more sustainable production methods, thereby incurring higher costs and potentially impacting profit margins. This environmental and economic dynamic poses a notable constraint on the growth and sustainability of the glycine market.
Opportunity:
The glycine market holds promising opportunities, particularly in the growing demand for glycine in the food and pharmaceutical industries. Glycine's role as a key ingredient in various food and beverage products, coupled with its applications in pharmaceutical formulations, positions it favorably for increased market penetration. The rising awareness of the health benefits associated with glycine consumption, including its role in collagen synthesis and potential therapeutic applications, presents a significant market opportunity. Moreover, the expanding use of glycine in animal feed as a feed additive for improved livestock health further contributes to the market's potential growth. As consumers increasingly seek natural and functional ingredients, the versatile properties of glycine make it an attractive component for product innovation, creating a positive outlook for the glycine market in the foreseeable future.
About The Authors
| Yang Min - Lead Author |
| Email: yangmin@qyresearch.com |
| Yang Min is a market senior analyst specializing in chemical materials. Yangmin has 8 years’ experience in chemical materials market analysis, and focuses on chemical materials and API. He engaged in the development of technology and market reports and is also involved in custom projects. |
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