Tue. Jul 23rd, 2024

A booming opportunity with a CAGR growth forecast of 6% through 2033 – Market Research Blog

By Vaseline May30,2024
A booming opportunity with a CAGR growth forecast of 6% through 2033 – Market Research Blog

A booming opportunity with a CAGR growth forecast of 6% through 2033 – Market Research Blog
Glycinates market

The glycinates market is poised for substantial growth, with an expected CAGR of 6% between 2023 and 2033, and will reach a valuation of USD 2338.37 million by the end of the forecast period. Key drivers include increasing health consciousness, rising demand for natural food additives and growing applications in various industries such as food, pharmaceutical and agriculture.

Increased demand for nutrient-rich foods

Glycolates are in high demand due to the increased demand for nutrient-dense foods. Factors driving the growth of the sector include:

  • Increased mineral scarcity among the population, especially in emerging economies such as Brazil.
  • Increasing demand for chelated minerals in food additives.
  • The tightening of restrictions on the use of antibiotics in animal feed also stimulates the company.

Glycinates are often used as nutritional supplements to strengthen bones and strengthen the immune system. The pharmaceutical and demand from the nutraceutical industry for healthy and natural food additives, as well as increasing consumer awareness about skin care products containing natural ingredients such as magnesium glycinate, are further driving the growth of the glycinates market.

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Market dynamics:

  • Growing health consciousness and demand for nutritious food products are driving the growth of the glycinates market.
  • Glycinates provide several health benefits, including treating mineral deficiencies and boosting immune function.
  • The expansion of the animal feed industry and increasing meat consumption are driving the demand for glycinates in animal feed.
  • Increasing awareness about natural food additives and preferences for clean-label products are driving the growth of the glycinates market.
  • Lack of knowledge about health benefits in certain regions and affordability issues can limit market growth.
  • Efforts to increase awareness about nutrition and healthcare help overcome market limitations.
  • Demand for liquid glycinates is increasing in fertilizers, processed foods, pharmaceuticals and personal care products.

Key points of the glycinates market

  • The worldwide increasing demand for pharmaceuticals/nutraceuticals, food additives, feed additives and personal care items has a direct impact on the growth of glycinates.
  • The market size is expected to reach $1305.74 million by 2023.
  • Glycinates market is expected to flourish at a CAGR of 6% during the forecast period 2023 to 2033.
  • Asia Pacific dominated the glycinates market.

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Important developments in the Glycinates market

  • September 2019 – BASF SA, a chemical company based in Germany, announced the acquisition of Isobionics, a leading biotechnology company focused on natural flavors and fragrances. The agreement allowed BASF to expand its product range to meet the rising demand for natural ingredients.
  • November 2017 – BASF SE, a German chemical company, announced a partnership with Vital Therapeutics Pvt. Ltd., a leading Indian manufacturer of veterinary formulations and vitamin premixes. The collaboration is likely to result in a new product for the South Asian feed market, especially India.
  • BASF Animal Nutrition introduced a new product range of glycinates in August 2014. The iron, copper, manganese and zinc glycinate series is intended for use in a variety of premixes, minerals and compound feeds.
  • In July 2022, Avitech Nutrition introduced Performins, an organic blend of glycinates, to the market. Its most widespread use is in animal feed, where it acts as an enhancer.
  • In January 2022, OHMG, a UK-based company, announced the debut of the world’s first magnesium mixed drink. This drink contains three types of glycinates: magnesium threonate, magnesium citrate and magnesium glycinate, which act as a de-stressor to reduce tension and anxiety levels.

Glycinates Market Segmentation

Glycinates Market by Type:

  • Magnesium glycinate
  • Calcium glycinate
  • Zinc glycinate
  • Iron glycinate
  • Copper glycinate
  • Manganese glycinate
  • Sodium glycinate

Glycinates Market by Form:

Glycinates Market by Application:

  • Animal food
  • Pharmaceutical/nutraceutical
  • Eat Drink
  • Cosmetics and personal care

Glycinates Market by Region:

  • North America
  • Europe
  • Asiatic-Pacific
  • Latin America
  • Middle East and Africa

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