This Glycine market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Glycine market.
Seattle, WA -- (SBWIRE) -- 11/01/2019 -- Demand for glycine in North America is likely to witness stagnant growth in the near future as the market has relatively matured. It has been witnessed that the growth rate of domestic production, capacity utilisation and financial performance has been declining since past few years. Consumption of glycine in North America stands at more than 100,000 Tonnes and is slated to amount more than 150,000 Tonnes by 2024. Key players in this region are focusing on developing glycine tailored to specific applications.
This country dominates the glycine market in North America and is likely to remain attractive in the years to come. In the U.S., exponential growth rates will be hard to sustain in the long run as the market will eventually mature. However, the growing applications of glycine in cosmetic products coupled with the growth of the feed industry is likely to support the glycine market in the U.S.
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In Canada, the import of glycine is continuously rising. To avoid the antidumping duty from the U.S., many glycine producers from China export their material to the U.S. through Canada as Canada does not apply any import duty on glycine.
Increasing usage of glycine in personal care products and in products for animal consumption drive the demand in the North America glycine market
Increasing meat consumption in North America, coupled with high livestock production, such as broiler, swine and cattle leads to an increase in the demand for animal feed additives. This trend is forecasted to become a key driving factor for the market growth of glycine over the forecasted years. Growing meat consumption (owing to meat being a source of protein) in North America region is slated to positively influence the market growth of glycine. For instance, in the U.S., around 60% of protein is consumed through animal meat, as compared to the global average of about 30%.
Glyphosate, a synthetic amino acid is the most widely used biocide in North America. The demand for glyphosate is projected to remain high throughout the forecast period, driven by the growing adoption of herbicide tolerant (HT), genetically modified (GM) crop, which in turn fosters the demand for glycine. Further, the shift towards sophisticated farming practices, increased emphasis on enhancing crop yields and rising demand for crop protection solutions in agriculture in North America are other driving factors.
In personal care products such as antiperspirants and cosmetics, glycine is used to reduce the acidity of other ingredients. Increasing application of glycine in personal care products is expected to be one of the major growth factors for the glycine market in North America.
The cosmetic industry is one of the biggest end users of glycine. Increasing demand for cosmetic products due to change in the lifestyle of consumers has a positive impact on the glycine market in the region. For example, it has been estimated that in the U.S glycine is used more than 30% as an additive in cosmetics and personal care products, most notably deodorants and antiperspirants.
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Glycine is also used as an intermediate material in products intended for animal consumption, such as vitamins and other nutraceuticals and pet food. It has been estimated that in the U.S., glycine is used as an intermediate material in around 55% of the products intended for animal consumption. This increasing usage is expected to fuel the growth of the glycine market in North America.
Market Segment by Manufacturers, this report covers Ajinomoto, Showa Denko KK, Yuki Gosei Kogyo, Paras Intermediates Private Limited, Evonik , Shijiazhuang Donghua Jinlong Chemical, Hebei Donghua Jiheng Chemical, Linxi Hongtai,
Market Segment by Type, covers
Glycine- Food Grade
Glycine- Tech Grade
Glycine- Pharma Grade
Market Segment by Applications, can be divided into
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