The Global Glycine Market Is Witnessing High Growth Owing To the High Usage of Glycine in Several Sectors Such As Cosmetics, Food and Beverages, and Others

 

Glycine Market

Market Overview:

Glycine helps form glutathione, which is an essential antioxidant that protects the body from various aging effects. Its low levels can also lead to premature death. In addition, glycine may improve sleep quality. It has also been shown to improve psychomotor vigilance. It is an amino acid that can boost heart health and prevent atherosclerosis. The amino acid is a conditionally essential amino acid for human growth and metabolism. Although glycine is naturally present in meat, it can also be found in gelatin, a substance made of collagen. It is used to increase the consistency of foods like soups and other processed foods. As a dietary supplement, glycine is readily available. It is a powder that dissolves easily in water and tastes slightly sweet.

Competitive Landscape:

Major players operating in the global Glycine Market include Salvi Chemical Industries Ltd., Hebei Donghua Jiheng Chemical Co.Ltd., Shandong Zhenxing Chemical Industry Co., Ltd., Paras Intermediates Private Limited, Nantong Guangrong Chemical Co., Ltd., CHATTEM CHEMICALS, Showa Denko KK, YUKI GOSEI KOGYO CO., LTD., Evonik Nutrition & Care GmbH, Ajinomoto Co., Inc, and GEO Specialty Chemicals.

Key Market Drivers:

Increasing developments by major companies in the global Glycine Market are expected to augment the growth of the market. For instance, in May 2019, Evonik Nutrition & Care GmbH announced an increase in the prices of glycine by around 12%. Apart from being an essential amino acid, glycine also has several other benefits. For example, it regulates hormone secretion, regulates body temperature, and maintains electrolyte levels. It also plays a vital role in the development of neural pathways and is a treatment for schizophrenia. Besides, it has a calming effect on the central nervous system and has implications for sleep and digestion. A healthy diet with more glycine-rich foods is the best way to get more protein into the diet. Moreover, increasing usage of glycine in several sectors such as food and beverages and cosmetics is estimated to enhance the growth of the global glycine market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several restraining factors hindering the growth of the global Glycine Market. The main challenges include the sudden downfall of demand, which affected the production and supply chain. Moreover, transport restrictions and lockdown issues also hindered the growth of the market.

Key Takeaways:

·       North America is expected to dominate the growth of the global glycine market, owing to the high rate of developments done by key players in the region. For instance, in September 2019, Arsenal Capital Partners acquired Geo Specialty Chemicals.

·        The Asia Pacific is estimated to witness high growth in the global Glycine Market, owing to the increasing prevalence of cosmetic brands in the region. For instance, according to PharmaHopers, there are over 20 cosmetic brands, which are highly used and preferred by Indian consumers.