Global Glycylglycine Market Highlights over 2022 – 2031
The global glycylglycine market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing application of glycylglycine in healthcare and cosmetic industries. In healthcare, glycylglycine is used as a metabolite, and in research activities related to treatment of colorectal cancer, cystic fibrosis, and prostate cancer. In turn, the growing investment in the medical R&D activities is estimated to drive the growth of the market. As per the data by the World Bank, 2.203% of the global gross domestic product (GDP) was spent on R&D activities in 2018. In addition to this, glycylglycine is also intensively used in the cosmetic industry for manufacturing hair and skin conditioners. The increasing adoption of organic chemicals for production of cosmetics and other personal goods is estimated to boost the market growth. Moreover, the surging import and export of chemicals across the globe, backed by the growth of the chemical sector, is further likely to propel the demand for glycylglycine during the forecast period.
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Glycylglycine is a dipeptide formed from glycine residues, which has a varied pH range of 2.5–3.8 and 7.5–8.9. Owing to its pH range and low toxicity, it is used as a buffer for biological systems, especially metabolic activities. It is considered as the simplest of all peptides, and is used for improvement in protein solubility after cell lysis.
The market is segmented by application into pharmaceutical, organic chemicals, cosmetics, bio-chemical research, and others. Out of these, the cosmetics segment is anticipated to hold a substantial revenue share in the global glycylglycine market over the forecast period on account of increasing demand for organic products among consumers. On the other hand, the pharmaceutical segment is foreseen to gain noteworthy growth during the forecast period, owing to the growth in research and development activities, and high investment in the healthcare sector.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Glycylglycine Market Regional Synopsis
On the basis of geographical analysis, the global glycylglycine market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness highest growth over the forecast period on the back of growth in the number of researchers in the region. Moreover, the growing import of chemicals in the region is also estimated to boost the market growth. According to the data by the International Trade Center (ITC), Germany and France imported chemical products worth USD 22,631,592 and USD 11,652,675 respectively in 2021.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing presence of major chemical manufacturing companies, along with increasing medical research activities in the region.
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The global glycylglycine market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global glycylglycine market includes the following segments:
- Below 99%
- Organic Chemicals
- Bio-chemical Research
- Increasing Application in the Healthcare and Cosmetics Sector
- Growing Research and Development Activities
- Unstable for Storage Once Dissolved
- Disrupted Supply of Raw Material
Top Featured Companies Dominating the Market
- Bio Basic Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Carl Roth Gmbh & Co. Kg
- SIELC Technologies, Inc.
- Poly Harmony International Co. Ltd.
- VWR International, LLC.
- Capot Chemical Co. Ltd.
- Hangzhou Keying Chem Co., Ltd
- Krackeler Scientific, Inc.
- Merck Group
- Alfa Aesar (Thermo Fisher Scientific)