The glycinates market is expected to exhibit exponential development by 2027 on account of mounting demand for dietary supplements around the world.
Glycinates are one of the key ingredients in animal nutrition. Zinc glycinate, iron glycinate, manganese glycinate, and copper glycinate are among the commonly used glycinates in animal feed. The small molecular size and high mineral content offer wide-ranging health benefits including, protection from oxidation, enhancing reproductive health, improving the immune system, and facilitating proper enzyme functionality. Escalating demand for poultry feed to cater to the growing global poultry demand has augmented industry uptake over the past years.
Several industry players have been implementing strategic initiatives to gain a competitive edge in the evolving marketplaces, which has positively impacted the overall business dynamics. For instance, in December 2020, Ajinomoto Co., Inc., a prominent food and biotechnology company, announced the acquisition of Nualtra Limited, an Ireland-based supplements company. The deal enabled Ajinomoto to expand its business across Europe and broaden its oral nutritional supplements portfolio.
In another instance, in September 2019, BASF SA, a Germany-based chemical company, announced the acquisition of Isobionics, a leading biotechnology company specializing in the natural flavors and fragrances product segment. The deal facilitated BASF to increase its product offering to accommodate the surging demand for natural ingredients.
The glycinates market has been segmented based on application, type, form, and region.
From the type point of view, the market has further been bifurcated into sodium glycinate, magnesium glycinate, manganese glycinate, calcium glycinate, copper glycinate, zinc glycinate, iron glycinate, and others.
The copper glycinate sub-segment is projected to generate a significant valuation by 2027, expanding at a CAGR of approximately 5.1% over the estimated timeline. The manganese glycinate sub-segment is slated to grow at a steady pace of around 5.0% CAGR through the review period.
The sodium glycinate sub-segment is foreseen to garner considerable gains by 2027, progressing at a CAGR of approximately 4.6% over the analysis period. The others sub-segment is set to register almost 4.3% CAGR through the assessment timeframe.
In terms of application, the glycinates market has been segregated into cosmetics & personal care, animal feed, food & beverage, pharmaceutical/ nutraceutical, and others. The others sub-segment is likely to account for a notable market share by 2027, developing at more than 4.6% CAGR over the forecast timeline.
On the regional front, the Europe glycinates market is expected to observe sturdy expansion by 2027, growing at a CAGR of above 5.2% over the projected period. The Middle East & Africa glycinates market is anticipated to reach a sizable revenue estimation by the end of 2027, expanding at a CAGR of around 4.4% over the study period.