One of the key reasons propelling the growth of the glycinates market is the rise in demand for nutritious food products around the world. Businesses specialising in the creation and distribution of manganese glycinate, which can treat consumer deficiencies and raise knowledge of precision nutrition practises, speed up market expansion. The market is also influenced by the rise in mineral deficiencies among people as a result of unbalanced lifestyles and increased demand from the supplement and preventive healthcare product sectors. Moreover, the market for glycinates is positively impacted by rapid urbanisation, changing consumer lifestyles, rising disposable income, expanding populations, and the feed and personal care industries.
The specifics and extent of the economic crisis would determine how the glycinates market would be affected. Consumers may be less willing to spend money on nutritional supplements, cosmetics, and speciality foods during a recession. This can result in a decline in the demand for glycinate products across many industries. Furthermore, the availability of glycinate products could be impacted if the recession causes a severe halt in manufacturing and production. The production of glycinate products could need to be reduced, and manufacturers might need to postpone the introduction of new items.
Increased Demand for Nutritional Supplements to Drive Market Growth
In recent years, the demand for nutritional supplements has increased, and glycinate products have become a common element in many supplements. Many people are attempting to preserve their health and well-being through a better lifestyle, which includes correct eating and exercise. As a result, there is more interest in using dietary supplements to make up for dietary deficiencies and promote general health. The world's population is also getting older, and many older persons may find it challenging to receive enough nutrients from their diets alone. Glycinates supplements that can support healthy ageing are in high demand as a result of this. Furthermore, consumers are becoming increasingly aware of the possible advantages of dietary supplements that contain particular nutrients as more research on the health benefits of those nutrients is conducted. For instance, studies on magnesium glycinate have revealed that it can help with anxiety reduction and sleep quality improvement, which has increased demand for magnesium glycinate supplements.
Trace Element Supply Issues That Impede Market Growth
Glycinate contains a variety of trace elements, including zinc, magnesium, copper, and others. These trace elements have a significant supply risk because of their availability and complex components. The status of various trace elements, their capacity to form chemical bonds, their dosage, and other factors all affect how bioavailable a substance is. In some situations, it might be challenging for both animals and people to absorb these trace minerals following administration. Animals' intestinal intake capacity declines with age, and in humans, it declines with increased stress, which makes it difficult to absorb trace elements and restricts the usage of glycinate among consumers. The global glycinates market's revenue growth is anticipated to be constrained by these factors.
Based on type, the glycinates market is segmented into magnesium glycinate, zinc glycinate, calcium glycinate, copper glycinate, manganese glycinate and sodium glycinate. The magnesium glycinate category dominated the market in 2022. Due to its relaxing qualities, magnesium glycinate is popular among people who work since it treats depression, insomnia, and anxiety. These tablets help treat a predisposition for low levels of magnesium in the blood. According to studies, there are magnesium deficits in about 50% of Americans. The fact that so many more people worldwide suffer from these inadequacies is anticipated to fuel the segment's sales growth.
Based on form, the glycinates market is segmented into dry and liquid. The dry category dominated the market in 2022. Glycinate in dry form has a number of advantages, such as ease of use and cheaper prices, which are increasing demand for this form in various health beverages and nutritional food supplements. Different solutions readily absorb glycinate in its dry state. Due to its increased shelf life, this form is also utilised in a variety of medicinal goods and food additives. Dry form is therefore anticipated to contribute to an increase in sales growth.
Based on application, the glycinates market is segmented into pharmaceuticals/nutraceuticals, food additives, feed additives and personal care products. The pharmaceuticals/nutraceuticals category dominated the market in 2022. The use of glycinates in pharmaceuticals is being supported by increased demand in the complementary and preventive healthcare sectors as well as growing concern for personal care. Furthermore, expanding mineral deficiency cases caused by an imbalanced lifestyle and increasing consumer interest in nutrition practises are encouraging consumption of glycinate-based health beverages, which is anticipated to fuel market revenue growth.
North America is projected to hold the largest share of the glycinates market over the forecast period since the market there is the greatest for animal feed. Glycinates are required by animal feed products in significant quantities, which increases the region's market share. Due to the expanding meat and beef industries in the United States, the food additive industry is expanding. Furthermore, 50% of people report being sleep deprived and 94% of people reported experiencing stress at work, which is predicted to raise the need for glycinate in the market. On the other hand, the Asia Pacific glycinates market is anticipated to grow significantly as a result of expanding uses in the personal care industry. The need for excellent formulations and personal care portfolios will increase as a result of increased disposable incomes and consumers' increasing propensity for high-end cosmetic and beauty products, providing profitable opportunities for personal care makers.
LIST OF KEY COMPANIES PROFILED:
- BASF (Germany)
- Solvay (Belgium)
- Ajinomoto (Japan)
- Clariant (Switzerland)
- Albion Laboratories (US)
- Aditya Chemicals (India)
- Pancosma SA (Switzerland)
- Dunstan nutrition (New Zealand)
- Innospec (US)
- Pharmavit (Netherlands)
- Jost Chemical Co. (US)
- Galaxy Surfactants (India)
- Schaumann (Germany)
- Shijiazhuang Donghua Jinlong Chemical (China)
- Aliphos (Belgium)
- In March 2022, Trio Nutrition has announced the release of Magximum, the world's first magnesium supplement, which contains Magnesium Glycinate, Vitamin D3, and MCT Oil Powder with Vitamin K2 for promoting deep sleep, pain relief, and stress relief. These products are attracting customers and expanding the market.
|Market Size in 2022||USD 1.1 Billion|
|Market Forecast in 2030||USD 1.7 Billion|
|Compound Annual Growth Rate||6.20 %|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Form, By Application and By Geography|