GLYCINE MARKET ANALYSIS

Glycine is the simplest amino acid, which is colorless and sweet-tasting crystalline solid. It is insoluble in ethanol and ethyl ether whereas it is moderately soluble in acetone. It helps in healthy functioning of kidney and liver, as it is naturally available in abundance. Glycine find applications in food & beverages, cosmetics & personal care, pharmaceuticals, chemical intermediate, and others. In animal feed and pet food, it is used as an additive and is also used as sweetener and in protein drinks.

Market Dynamics

Rising demand for glycine from various end users is driving growth of the market. Growing processed food market is expected to increase demand for glycine, owing to rising demand for easy and ready to cook food and fast food. Moreover, new food concepts such as ‘free food’, ‘rush-hour foods’, and others is expected to drive demand for glycine in the near future. The global consumption of animal products such as meat, milk, and eggs is expected to increase due to rising demand for protein-rich food. This in turn will increase demand for glycine in the animal feed, thereby fueling growth of the glycine market.

Glycine is widely used in cosmetic industry. Therefore, rising demand for cosmetic products due to change in the lifestyle of consumers will drive the glycine market growth. For instance, it has been estimated that in the U.S., over 30% of glycine is used as an additive in cosmetics and personal care products, mostly deodorants and antiperspirants.

Market Outlook

On the basis of region, the global glycine market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America holds dominant position in the global glycine market, however, the region is witnessing stagnant growth since past few months due to the sluggish demand. High demand for packaged food and meat products makes the market in the U.S leading in this region.

Asia Pacific is the fastest growing region in the global glycine market, owing to the presence of emerging economies such as India, Japan, China, Singapore, and South Korea. Europe is expected to witness a moderate growth in the global glycine market during the forecast period, owing to sluggish growth of the end users and economic slowdown.

Key Players

Some of the major players operating in the global glycine market include Evonik Industries, GEO Specialty Chemicals, Inc., Showa Dekno KK, and The Dow Chemical Company.