Glycinates Market Size, Share, Industry, Forecast and outlook (2023-2030)

Market Overview

The Glycinates Market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period (2024-2031). Glycinates, which are organically bound trace elements with higher bioavailability, find applications in various industries due to their medicinal properties and health benefits. The market is primarily driven by increasing consumer demand for products with accurate compositions and health benefits.

Market Dynamics

High Demand for Health Benefits

Glycinates are in high demand among consumers due to their precise composition and various health benefits. Different types of glycinates, such as calcium, copper, iron, manganese, and zinc glycinate, offer consistent content of complexed trace elements and exhibit excellent flow properties. Among these, magnesium glycinate stands out for its numerous health properties, including support for brain, heart, and skeletal muscle health. Magnesium glycinate supplements are increasingly popular for regulating magnesium levels in the body and addressing health concerns like asthma attacks and mental health issues.

Limiting Factors

Despite the growing demand, factors such as the high cost of research and development for new formulations and fluctuations in raw material prices may limit market growth to some extent.

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Market Segmentation

Calcium Glycinate Dominates

In 2021, calcium glycinate accounted for the highest revenue share in the global glycinates market. Calcium glycinate finds applications in treating osteoporosis, as a mineral supplement, and in various cosmetic formulations. It is particularly popular among elderly consumers for strengthening bones and teeth and improving overall health. The rising incidence of calcium deficiency and increasing demand for cosmetics and personal care products contribute to the growth of this segment.

Liquid Form Preferred

In the same year, the liquid form segment held the highest revenue share, driven by its extensive use in cosmetics, personal care products, and food and beverages. Liquid glycinates are favored for their moisturizing properties and texture enhancement in various products, although they have a shorter shelf life compared to dry forms.

Geographical Share

North America Leads

North America dominated the glycinates market in 2021, with the highest revenue share. The region's market growth is fueled by increasing investments in research and development for product innovation in the livestock industry and regulatory pressure regarding food safety and animal welfare. Additionally, the presence of a large number of players and strong government support for the livestock industry contribute to market expansion.

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Market Companies

The glycinates market is competitive, with key players such as Solvay S.A., BASF SE, Aditya Chemicals, Pancosma SA, and others. These players are focusing on agreements, product innovation, and research and development activities to strengthen their market position. For example, Jost Chemical Co. introduced 100% Pure Magnesium Glycinate, meeting customer requirements with high-purity magnesium salts consistent from lot to lot.

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