Global Glycinates Market By Knowledge Sourcing Intelligence

The glycinates market is expected to grow to US$1,177.578 million by 2024 from US$881.928 million in 2018, expanding at a CAGR of 4.94% over the forecast period. Growing demand for supplements and cosmetics and personal care products is one of the major driving factors behind the growth of glycinates market. While rising demand for chelated minerals in food additives is also escalating the use of glycinates as additives across food application which, in turn, is positively impacting the overall global glycinates market growth. Moreover, growing restrictions on the use of antibiotics and increasing demand for glycinates as supplements in livestock feed will continue to bolster the glycinates market during the forecast period.

The glycinate market has been segmented on the basis of type, form, application, and geography. In the type segment, magnesium glycinate will hold a significant share owing to the increasing awareness regarding magnesium. In the application segment, pharmaceutical along with feed additives will boost the glycinate market on account of the increasing application of glycinate in various medical and food products. Geographically, North America holds a significant market share owing to the presence of huge feed production market coupled with high demand for dietary supplements.