Glycinates Global Market Report 2023

(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinkerannounces the release of the report "Glycinates Global market Report 2023" -
V., Chaitanya Chemicals, Provit, PAT IMPEX chemical India, Jost Chemical Co., and H. Wilhelm Schaumann GmbH.
The global glycinates market is expected to grow from $1.15 billion in 2022 to $1.23 billion in 2023 at a compound annual growth rate (CAGR) of 6.73%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The glycinates market is expected to reach $1.57 billion in 2027 at a CAGR of 6.43%.
The glycinates market consists of sales of nutritional supplements, dietary supplements, nutraceuticals, and mineral glycinates.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Glycinates refer to the conjugate base of glycine, made up of an alpha-amino acid anion that forms when the carboxy group is deprotonated.Glycinates are used as a mineral supplement to prevent and treat low levels of magnesium in the blood.
Glycinates have a better bioavailability than other compounds, hence they are also frequently utilized in animal feed.
North America was the largest region in the glycinates market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the glycinates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of glycinates are magnesium glycinate, calcium glycinate, zinc glycinate, iron glycinate, copper glycinate, manganese glycinate, and sodium glycinate.Magnesium glycinate refers to a compound prepared from elemental magnesium and the amino acid glycine.
Magnesium glycinate is used as a dietary supplement as a source of magnesium. The variforms of glycinates include fluid, powder, and others that are used in food sources, drinks, nutraceuticals, creature feed, and others.
Rising demands for nutritional supplements are expected to propel the growth of the glycinates market going forward.Nutritional supplements refer to products meant to enhance the diet.
Dietary supplements can be any vitamin, mineral, herbal remedy, or other ingestible preparation added to the diet to promote health.Ingestion of supplements helps to ensure people receive the necessary amounts of important nutrients and to maintain or improve their health.
Glycinates are used as supplements that can boost health in variways. For instance, in January 2022, VitaFood Insights, a UK- based community-powered knowledge platform to help the nutraceutical industry, published that the U.S. sales of supplements increased by 3.2% to $60.57 billion in 2022. Therefore, the rising demand for nutritional supplements is driving the growth of the glycinates market.
Product innovation is a key trend gaining popularity in the glycinates market.Companies operating in the glycinates market are adopting innovative products to sustain their position in the market.
For instance, in July 2020, Avitech Nutrition, an India-based manufacturer, importer, and supplier of animal nutrition products and animal feed supplements, launched Performins range of organic trace mineral glycinates blend. Performins are created for improved bioavailability, absorption, and animal performance and have a specific 4S advantage of size, specificity, solubility, and stability.
In October 2022, BASF, a Germany-based chemicals company that also manufactures glycinates partnered with Hannong Chemicals, a South Korea-based chemicals company, and signed a joint venture under which BASF will hold 51% and Hannong Chemicals 49% shareholding in the new company, BASF Hannong Chemicals Solutions Ltd. The joint venture was aimed to position the new company in the non-ionic surfactants market and serve customers in Asia.
The countries covered in the glycinates market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The glycinates market research report is one of a series of new reports that provides glycinates market statistics, including the glycinates industry's global market size, regional shares, competitors with a glycinates market share, detailed glycinates market segments, market trends, and opportunities, and any further data you may need to thrive in the glycinates industry. This glycinates market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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