Market Overview:
Glycinates Market is Anticipated to Incredible growth at CAGR of over 5.5% during the forecast period 2017 to 2023. Increasing demand for dietary supplements and nutritive food & feed is one of the major factors contributing to the growth of the global glycinates market. Additionally, the increasing demand for functional food & beverage and high-performance feed products has surged the demand for glycinates at a global level. Glycinates are serving as an important additive in most of the food, beverage, supplements, and animal feed products. Availability of glycinates in various forms has influenced the demand from various industries apart from food & feed industry.
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Competitive analysis:
The major players in the glycinates market Ajinomoto Co., Inc. (Japan), Clariant AG (Switzerland), Solvay SA (Belgium), BASF SE (Germany), NovoTech Nutraceuticals Inc. (U.S.), Dunstan Nutrition Ltd. (New Zealand), Shijiazhuang Donghua Jinlong Chemical Co Ltd. (China), Schaumann GmbH & Co. KG. (Germany), Aliphos Belgium SA/NV (Belgium), Albion Laboratories, Inc. (U.S.)
Segmentation Analysis:
The global glycinates market is segmented into type, form, and application.
Based on the type, it is segmented into zinc, copper, manganese, magnesium, calcium, sodium, and others. Among all, the magnesium glycinate segment is dominating the market.
Based on the form, it is segmented into liquid, powder, and others. Among all, the powder segment holds the major market share due to its wide range product applicability including food, beverages, feed, supplements, and others.
Based on the application, it is segmented into foods, beverages, nutraceuticals, animal feed, and others. Among all, the feed segment is dominating the market.
Regional Analysis:
The global glycinates market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the glycinates market followed by Europe. Increased demand for feed & food additives in the developed countries such as the U.S., the U.K, Germany and France has uplifted the glycinates market. Furthermore, the major key players are continuously involved in R&D activities to come up with new & enhanced products for wide range applicability.
Moreover, increasing demand for glycinates in foods, beverages, and dietary supplements is supporting the growth of glycinates market in countries including India & China of the Asia Pacific region.
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Market Forecast:
The global glycinates market share in the foods & feed industry is intensifying by the growing demand for functional food & feed additives in the developed & developing countries. Glycinates are found to have wide application in food & feed, amongst which the application in the production of functional food & beverages is increasing at a higher rate. Increasing prevalence of deficiency diseases among the growing population is found to be a key factor responsible for the growth of glycinates market.
Furthermore, improved processing methods and demand for nutritive food products in the developing countries are positively supporting the growth of the global glycinates market. Additionally, restriction on the use of antibiotics in food & feed formulations in the North American & European region is adding fuel to the market growth. However, fluctuating prices of raw material and high cost incurred on the industrial setup may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5.5% of the glycinates market during the forecast period 2017-2023.
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