According to a new research report by Global Market Insights Inc., the global Glycinates Market size is set to surpass USD 1.35 billion by 2027.
Glycinates, also known as glycine chelates, are compounds which have good skin compatibility characteristics coupled with foaming properties. Glycinates are mineral chelates produced with the help of amino acids, glycine, zinc, manganese, calcium, and copper. They are used in many applications such as animal feed, pharmaceutical/nutraceutical, and functional food & beverages owing to their high nutrition content. Rising demand for dietary supplements post COVID-19 is also expected to trigger the glycinates market growth.
Increasing consumption of meat & meat products across the globe is driving the production of poultry, swine, and cattle. Increasing financial support from government for animal breeders to increase the quality of compound feed is expected to stimulate the demand for an efficient animal nutrition product in the forecast period.
Increasingly hectic lifestyles should boost the demand for supplements to get relief from stress and depression thus driving the growth of magnesium glycinate market
The magnesium glycinate type surpassed USD 270 million in 2020 and is estimated to record a CAGR of over 5.5% over the forecasted period. Magnesium glycinate is a chelate formed from amino acid glycine and magnesium with higher bioavailability compared to other forms of magnesium. The glycine component used is non-toxic in nature and helps to reduce muscle cramps and provides relief instantly owing to this they are widely used in pharmaceutical and nutraceutical industry.
Increasing hectic schedules and changing lifestyle especially in developed countries such as U.S., UK, and Germany have increased the demand for medication and supplements which provides relief from stress and insomnia. These factors are increasing the demand of magnesium glycinate in the market.
Browse key industry insights spread across 300 pages with 233 market data tables and 19 figures & charts from the report, “Global Glycinates Market by Type (Magnesium Glycinate, Calcium Glycinate, Zinc Glycinate, Iron Glycinate, Copper Glycinate, Manganese Glycinate, Sodium Glycinate), By Application (Animal Feed, Pharmaceutical/Nutraceutical, Food & Beverage, Cosmetics & Personal Care), By Form (Dry, Liquid), Regional Outlook, Industry Analysis Report, Price Trend, Competitive Market Share & Forecast, 2021– 2027” in detail along with the table of contents:
Rising poultry and beef production to fulfill the demand of meat & meat products globally should stimulate the glycinates market from animal feed application
The global glycinates market from animal feed application was valued over USD 320 million in 2020. Growing animal rearing and increasing poultry & beef production has increased the demand for animal feed additives to provide better health to the animals. Glycinates provides high animal vitality coupled with increased productivity which should increase the glycinates market share in the forecast period.
Increasing dairy and meat industry growth has raised the focus of manufacturers on animal nutrition which in turn has increased the glycinates product demand. Moreover, rising availability and acceptance of feed additives among animal breeders in Brazil, China and Mexico to increase the yield of the animals is further boosting the glycinates market growth.
Rising import and export of glycinates for dietary supplements has increased the demand for products with longer shelf life of dry form
Dry form is expected to surpass a market value of around USD 1,005 million by 2027 growing with a CAGR of over 5.5% from 2021 to 2027. Dry glycinates have a better physicochemical stability coupled with longer shelf life compared to liquid form. Dry forms are easy to store and transport as they do not spill which makes them more favorable for import and export. They are also easy to handle due to which makes them preferable to the pharmaceutical and food & beverage industry.
Increasing commercial poultry production has raised the compound feed and additives demand in Asia Pacific
Asia Pacific is expected to surpass a market value of around USD 325 million by 2027 owing to the high production of animal feed in the country. Asia Pacific has witnessed high investments in livestock farming owing to financial assistance through government schemes and subsidies. Increasing consumption of processed meat products especially in China, Japan and India coupled with increasing population has augmented the demand of meat among manufacturers.
Rising production of poultry products in developing countries such as Taiwan, India, and Vietnam are expected to transform poultry production from a backyard activity into a major commercial activity in the predicted period. This changing trend has also influenced animal breeders to adopt new animal dietary patterns, which is expected to drive the Asia Pacific glycinates market. Furthermore, the region has high resource availability, low-cost labor and ambient environmental conditions for exponential growth rate in animal feed.
Global glycinates industry comprises of various companies such as BASF SE, Solvay, Aditya Chemicals, Dunstan nutrition, Pancosma SA, Jost Chemical Co, Clariant, Pharmavit, and Innospec. The glycinates market effectiveness is expected to increase due to rising demand of the product in application segment. The leading players are mainly focusing on approaches such as product launches and agreements to increase its market share.