Global Glycinates Market: Overview
Global Glycinates market is expected to witness a significant growth with CAGR of 5.15% over the forecast period 2018-2025 owing to increasing demand for nutritive food products. The market study reveals that the global glycinates market is expected to reach around USD 1.48 billion by 2025. Consumers are increasingly becoming health conscious and are aware of the harmful chemicals and products used in their foods. Thus, they are shifting towards a healthier lifestyle where they are opting for mineral-rich foods, a major part of which is glycinates. Increasing deficiency among the population regarding minerals, especially in the developing economy, is thus fueling the need for better and mineral-rich products over the anticipated period.
Glycinates manufacturers are registering significant growth in North America and other developing regions owing to increasing deficiency of minerals in the developing countries coupled with growing demand for chelated minerals in food additives. Glycinates is a rich mineral which plays an important role in the mechanism of everyday bodily processes. The change towards a better lifestyle among people will positively impact the global glycinates market.
Global Glycinates Market: Scope of the Report
On the basis of product type, the Glycinates market is segmented into magnesium glycinate, Zinc Glycinate, Calcium Glycinate, Copper Glycinate, Iron Glycinate, Manganese Glycinate, Sodium Glycinate, and Others. Based on the application for glycinates, the market is segmented into Pharmaceuticals, Food Additives, Feed Additives, Personal Care and Others. Finally, the report covers the analysis of these segments across North America, Europe, Asia Pacific, Middle East & Africa and Latin America along with the qualitative analysis for market estimates that boosts the growth of the global glycinates market during the forecast period.
The report also highlights the competitive landscape of the global glycinates market that includes the company overview, products & offerings, strategic decisions taken by the company, launch of new products, technology landscape, and financial highlights.
Global Glycinates Market: Key Findings of the Report
According to BlueWeave Consulting, the key findings of the report “Global Glycinates Market Size, Share, Development, Growth and Demand Forecast, 2025” are:
Global Glycinates market is projected to expand
with a growth rate of 5.15% during 2018 to 2025. Increasing demand for mineral
supplements and healthcare products among the consumers is driving the global
glycinates market with the rising opportunities in meat & dairy sector;
there has been a shift in the focus of manufacturers towards animal feed. This
is also projected to increase the consumption of glycinates in livestock feed.
Magnesium Glycinates has dominated the market
and accounted for the highest market share of 30.26% of the total market in
2017, which is projected to reach over 33.83% by 2025 owing to its usage in
pharmaceutical industry. Magnesium glycinates is an essential nutrient which is
easier to absorb and is among the gentlest supplement on the stomach.
Pharmaceutical application is expected to reach
around USD 312.26 million by the end of 2025, which is driven by the factors
like used in a heavy amount, for the production of various mineral enriched
medicines and oral care products which drove the market. Growing concern
towards healthcare products and mineral supplements is driving this segment.
North America is the largest market for
glycinates across the globe. The demand for Glycinates in the region is
expected to rise with a CAGR of 6.11%, in terms of value, generating revenue of
around USD 633.04 million by 2025. China dominates the region with a CAGR of
6.39% during 2018-2025, anticipated to expand owing to increasing demand for
glycinates in the emerging economies like India and others due to its usage in
livestock feed additives.
Global Glycinates Market, By Type, Revenue Forecast (USD Million), 2013-2025
Global Glycinates Market: Research Methodology
Extensive secondary research was conducted using paid data sources including Bloomberg, Factiva, Capital IQ, OneSource, and Hoovers. Additionally, several publicly-available data sources were used including journals, statistics articles, and industry associations. These data sources were used to gather relevant information to develop an understanding of the global glycinates market. The research was conducted covering the desk research and primary research. Data sources used for primary research included online forums and blogs, CATI/CAWI, CAPI interviews, and video conferences. Additionally, interviews were conducted through connecting with various industry respondents including C-level executives, directors, divisional heads, regional heads, expert consultants, and independent consultants. The primary research was conducted to gain market insights from industry respondents and validate the gathered information through desk research.
Global Glycinates Market: Competitive Dynamics
The global glycinates market is dominated by a number of players, amongst them the major players BASF SE, Solvay, Ajinomoto, Clariant, Albion Laboratories, Shijiazhuang Donghua Jinlong Chemical, Galaxy Surfactants, Novotech Nutraceuticals, Schaumann, Dunstan Nutrition, Aliphos and Chaitanya Chemicals in this industry are following different strategies to strengthen their market position. For instance, In November 2017 BASF SE signed an agreement with Avitech Nutrition Pvt. Ltd., who is the leader in the animal nutrition field in India. They have special expertise in feed additives that will help BASF to expand their organic trace element product market in South Asia.