US Glycine Market
ID: MRFR/CnM/18900-HCR | 100 Pages | Author: MRFR Research Team| December 2023
The North American market accounted for a high market share in 2020 owing to the increased demand for the product in developed pharmaceutical industries in the region. The US, followed by Canada, is the leading country due to the presence of major key players such as Geo Specialty Chemicals, Chattem Chemicals and Ajinomoto in the region.
In the pharmaceutical industry, glycine is often used as an excipient in drug formulations due to its ability to improve the solubility and stability of active ingredients. With the growing demand for pharmaceutical products, the need for glycine as an ingredient has also surged. Additionally, glycine is being researched for its potential therapeutic applications, further fueling its demand in the pharmaceutical sector.
Moreover, the food and beverage industry is another significant contributor to the demand for glycine in the US market. Glycine is commonly used as a flavor enhancer and a sweetener in various food products. Its neutral taste makes it a versatile ingredient that can be incorporated into a wide range of food and beverage formulations without altering the overall flavor profile significantly. As consumers seek healthier alternatives to traditional sweeteners, the demand for glycine in this sector is expected to continue its upward trajectory.
Furthermore, the personal care industry has also witnessed a surge in the demand for glycine. Glycine's moisturizing and skin-conditioning properties make it a popular ingredient in skincare and cosmetic products. With the growing emphasis on natural and sustainable ingredients in personal care products, manufacturers are increasingly turning to glycine as a key component in their formulations.
In agriculture, glycine is utilized as a component of fertilizers and animal feed additives. Its role in promoting plant growth and enhancing nutrient absorption makes it a valuable asset in modern agricultural practices. As the agricultural sector adopts more efficient and sustainable farming techniques to meet the demands of a growing population, the demand for glycine-based products is expected to rise correspondingly.
Frequently Asked Questions (FAQ) :
The US Glycine Market is expected to be valued at 841.6 million USD in 2024.
By 2035, the market is projected to reach a value of 1528.0 million USD.
The expected CAGR for the US Glycine Market during this period is 5.572 percent.
In 2024, the Pharmaceutical Grade glycine is valued at 368.0 million USD, holding a significant market share.
The Food Grade glycine market is expected to reach 511.5 million USD by 2035.
Key players include Nippon Soda, Fufeng Group, Givaudan, BASF, and Evonik Industries among others.
The Technical Grade glycine market is projected to reach 333.5 million USD by 2035.
The Pharmaceutical Grade glycine market is expected to grow to 683.0 million USD by 2035.
Major applications include food, pharmaceuticals, and industrial uses, contributing to overall market growth.
Challenges include fluctuating raw material prices and regulatory constraints impacting production.
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