North America is witnessing huge upsurge in meat consumption currently. Further, livestock production in the region has also augmented significantly, driving the market for glycine lucratively. Rise in cattle, broiler, and swine has considerably spurred the demand for animal feed additives recently. Meat is said to be the greatest source of protein, thus the consumption of meat is expanding significantly in this region, stimulating the demand for glycine. Animal meat in the region consumes around 30% of the protein. An amino acid such as glyphosate is widely used biocide in the region. It is gaining recognition owing to the rising adoption of herbicide tolerant, which is indirectly driving the market for glycine.
Key Medicinal Uses of Glycine
Protein rich foods including legumes, meat, fish, dairy products and others have notable amount of glycine. Glycine is considerably used in the treatment of metabolic disorders such as benign prostatichyperplasia, schizophrenia, and others. It is also used in enhancing the taste and as a sweetener. This owes to the sweet flavor of glycine that makes it ultimate sugar alternative. According to recent report, several researchers have claimed that glycine can also act as the inhibitory neurotransmitter as it slackens down the brain activity. Glycine acts as the detoxifier of compounds such as benzoic acid. Benzoic acid is vastly used as a preservative and antimicrobial across the food sector. In Japan, glycine acts as the antibiotic resistant for the infections leading to gastric ulcers commonly known as H.Pylori.
Glycine market to face lucrative growth in North America and China
Over the past few years, glycine as antiperspirants in cosmetics and personal care products has gained massive demand from the top notch manufacturers across the world. This owes to its ability to reduce the acidity of the other ingredients. Thus, this is said to be the major growth factor for the growth of demand for glycine in North America. Change in lifestyle of consumers has also affected the glycine market as the middle-class people are inclining towards adopting the luxurious lifestyle. This is said to be the propelling factor for the regional growth of glycine. Thus, according to the projections, the sales revenue of glycine is estimated to soar more than US$ 300 million by the end of the forecast period (2016-2024).
In China, the volume of glycine is anticipated to increase. This is driving top notch manufacturers of glycine to expand as they are focusing on the business expansion. They are involved in technological advancements to enhance the overall production process of glycine. The producers believe that this will possibly cut the costs and will help them attain improved output with lower costs.
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Currently, the overall glycine market is estimated at more than US$ 875 million and is further expanding at the steady pace with the CAGR of 3.9% during the forecast period of 2016-2024. According to the projections, the market revenues will cross close to US$ 1,192 million by the end of the predicted period.