Glycine market size is expected to record remarkable growth from the period 2021 to 2027 on account of the rising intake of protein drinks. The higher consumption of ready-to-eat food, arising from shifting consumer food patterns has increased the demand for meat products. It has been estimated that global meat consumption will account in the range of 460 million to 570 million tons by 2050. The rising health awareness and the paradigm shift towards fitness regimes will upsurge the market growth.
The growing adoption of genetically modified crops and the alleviating livestock production will further enhance the industry outlook.
Based on grade, the glycine market size from the food grade segment is anticipated to gain traction between the period 2021 and 2027 due to the expanding agriculture sector. The growing need to enhance the delivery and usefulness of nutrients has led to the higher penetration of tech food-grade products. The rising obligation to limit the acidity in food and beverages will add positive impetus to the segmental growth.
With regards to end-use, the pharmaceutical sector will record substantial glycine demand on account of higher prevalence of strokes. Glycine is widely employed in the treatment of mental disorders, like schizophrenia as it acts as a neurotransmitter to stimulate the brain cells.
In addition, the product is used in the protection of kidneys from adverse side effects caused after the consumption of certain drugs post organ transplantation and to safeguard the liver from side effects of alcohol. Increasing adoption for memory enhancement, cancer prevention, and gastric absorption improvement will act as significant contributors to the Glycine market expansion.
Regionally, the Asia Pacific glycine market size is likely to achieve significant momentum owing to the proliferating medicine sector and the rising intake of meat in the region. The higher inclination for low-priced generics and the expanding population base will play a key role in supporting the glycine market growth in the APAC region.
Increasing beef consumption along with the rising cotton production, mainly in Brazil will enhance the growth of the Latin America glycine industry.
Global participants in the glycine industry are putting targeted efforts on growth and marketing strategies, inclusive of acquisitions, partnerships, novel product developments, capacity expansions, investments as well as mergers to proliferate their customer base and portfolio.
In another instance, in September 2020, Evonik Industries launched its own guanidino acetic acid product, GuanAMINO®, to meet the growing need for enhanced energy metabolism in livestock production. The novelty is derived from amino acids glycine and arginine.
Donghua Jinlong Chemical, Yuki Gosei Kogyo Co. Ltd., Royal DSM, Showa Denko KK, Prinova U.S. LLC (Prinova Group LLC), Guangrong Chemical, Ajinomoto Inc., Cargill, Zexing Group, ADM, and Dow Chemical (Dow Inc.) are some of the leading glycine suppliers in the business.
Role of COVID-19 crisis on the glycine market forecast
The COVID-19 outbreak gave rise to a significant global economic turmoil as it posed some crippling challenges on numerous industries across the world. The varying degrees of the nationwide lockdowns put to effect by various governments led to alarming disruptions in supply chains, alongside bringing trade barriers.
However, the pandemic proved to be beneficial for the demand and production of glycine on account of its higher adoption in the pharma sector to help in the treatment of the COVID-19 virus and its other repercussions. Several research activities are making large use of glycine in order to mitigate the associated tissue damages and the cytokine storm caused due to the infection.