According to the latest report published by Credence Research, Inc. “Global Glycogen Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global glycogen market is projected to reach US$ 67.6 Mn by 2026.
Glycogen belongs to carbohydrate family and as per the hierarchy, carbohydrates are classified into monosaccharides, disaccharides, oligosaccharides and polysaccharides. Glycogen serves as a form of energy (carbohydrate) storage in living beings like humans, animals and micro-organisms (fungi and bacteria). It is stored in hydrated form in liver, fat cells and muscles. Developing economies such as Asia-Pacific and Latin America paves the way for increased usage of sports supplements and cosmetic products. More and more people are being self-aware of the importance of supplementary protein, beauty and medicated cosmetic products. Apart from being captive centers for the developed economies, the developing economies bring in major bi-lateral trade and human capital exchange. India, China, Brazil, Nigeria, Angola, and Mexico amongst others provide low capital expenditure on shipment of their glycogen rich products. These regions can also be treated as export hubs for the developed nations like U.K., Japan, and U.S. amongst others. China, India, Bangladesh, Indonesia often provide attractive opportunities to the major players of glycogen market to set up manufacturing stations.
Based on source, glycogen market is categorized into plant based and animal based. Plant based segment accounted for the largest market value share in 2017. It is also the fastest growing segment owing to increasing synthesis of glycogen through plants such as sweet potato, cornstarch, etc. Also, steady reduction in the harvestation of shellfish and other marine animals is a key aspect tendering promising opportunity for this segment.
Glycogen finds promising application in personal care and cosmetics, food, sports nutrition, pharmaceuticals and others. Sports nutrition segment held the largest market value share of 28.8% in 2017 and expected to maintain its dominance by the end of 2026. This is due to increasing demand for cosmetics products based on natural and organic ingredients coupled with rising demand for novel cosmetics products especially from developed economies. In terms of value, personal care and cosmetics segment is estimated to register a CAGR of 5.7% between 2018 and 2026.
In terms of geography, Asia-Pacific is a lucrative market for investment owing to easy availability of raw materials, increasing growth of various end-use industries, rising personal care and cosmetics industry growth as well as increasing number of local players involved in the synthesis of starch and glycogen. Expansion and product development are the key strategies being adopted by dominant players such as Glico Nutrition Co. Ltd., Thermo Fisher Scientific Inc., etc. in the global glycogen market to gain competitive edge over other market players.
Browse the full report Global Glycogen Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/glycogen-market
Key players operating in the glycogen includes Merck KGaA, Thermo fisher Scientific Inc., Glico Nutrition Co. Ltd., Perkin Elmer, Cayman Chemical Company, and Chem-Impex International, Inc. among others.