REPORT OVERVIEW
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The global guanidinoacetic acid market size was USD 37 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the guandinoacetic market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 47 million by 2028, exhibiting a CAGR of 4.1% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Guanidinoacetic acid, also known as glycocyamine, is a derivate of glycine and L arginine. The foremost role of guanidinoacetic acid is to synthesize creatine which plays a crucial role in the metabolism of the body. Creatine is a natural compound which is stored in the skeletal muscle of the body and helps in maintaining a quality of life and improves muscle strength. The acid has found its importance in the field of animal husbandry and continuous research has shown that using guanidinoacetic in animal fodder promotes muscle health and contributes to an overall healthy metabolism in the animals.
The consumerist culture has seen a transformation in ideologies. Most people opt for quality-driven products rather than quantity. Previously, not many people were interested in enlightening themselves about the quality of the quantity served. The contemporary world is moving towards sustainable living. As a result, quality is being ensured in every field. Animal husbandry in which a majority of the population depends on meat and dairy supplements is being regulated and animal health is a major concern. Guanidinoacetic acid provides nutrition and nourishes the health of the animal which results in quality meat to cope with the rising living standards. Human beings' supplements containing guanidinoacetic acid advantageous in releasing fatigue and good muscle health. The rise in living standards and intake of supplements will drive the growth of guanidinoacetic acid market size in the forecasted year.
COVID-19 Impact: Supply Chain Hurdles and Frequent Lockdowns Dented Market Prospects
COVID-19's sudden emergence had a huge impact on all industrial sectors. The world was not prepared for a pandemic and it resulted in the slowdown of the market. The COVID-19 had affected China - a key player in guanidinoacetic acid market growth. The global lockdowns, shutting down of manufacturing units, and labor shortage directly affected the supply chain and there was a dearth of raw materials which retarded the market growth. However, as the world gears up for the normalization phase with a health-conscious mindset, a substantial guanidinoacetic acid market growth is anticipated in the forthcoming years.
LATEST TRENDS
"Continuous Innovation to Accelerate the Product Demand "
Guanidinoacetic acid is an experimental product and continuous research and innovations are being carried out by scientists to explore it further. Although it has shown tremendous impact in maintaining good muscle health and releasing fatigue, there are some shortcomings which pose a concern. The latest observation states that the incorporation of betaine with guanidinoacetic helps in chronic illness, less fatigue, high endurance and overall wellbeing. It has also shown visible improvements in the symptoms of arthritis and asthma, and glucose tolerance in diabetic and non-diabetic patients. Expanding scope of research and development surrounding the product will create favorable market opportunities in the forthcoming years.
SEGMENTATION
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- By Type
Based on type, the market is divided into feed grade, pharmaceutical grade, and others. Feed grade is expected to hold the largest market share during the period 2022-2028.
- By Application
Based on the application, the market is divided into fodder, medicine, and others. The fodder segment is anticipated to hold the dominant market share in the forthcoming years.
DRIVING FACTORS
"Rising Investment in Health-Friendly Products to Drive Product Sales"
COVID-19 exposed the worst health crisis of modern times. The pandemic has changed the consumerist market. Sustainable living is a trend now and it will continue to affect all forms of consumption. Health is a major concern and to keep up with good immunity, people are looking forward to health supplements which will make up for the nutrient deficiency and boost metabolism. Animal husbandry has also upgraded its mechanism and looks after the health of the animal which will give quality meat and other products. The ongoing health crisis compelled people to choose a product which is good for their body and environmentally friendly. The pandemic has been a lifelong lesson and consumers are investing their money in authentic health-friendly products. This will be a major driving factor for the growth of guanidinoacetic acid market share in the future.
"Diversification of Application Base to Boost the sale of Guanidinoacetic Acid"
The high standard of contemporary living and innovations led to the diversification of the guanidinoacetic acid market. Apart from the nutrients needed by human beings, it also plays a significant role in the animal husbandry sector. It is used as an additive in fodder to boost feed efficiency, muscle growth and metabolism. Animal husbandry is driven by quality and guanidinoacetic acid provides much-needed nutrients to fill the deficiency. Increasing demand across these applications will be a pivotal factor augmenting the market share globally during the next few years.
RESTRAINING FACTORS
"Adverse Side Effects to Hamper the Growth of Guanidinoacetic Acid Market"
Recent research has supposedly exposed the adverse effect of guanidinoacetic acid. The transformation of guanidinoacetic acid to creatine creates a methyl deficiency in the body which affects many cellular functions and results in cardiovascular problems and neurotoxicity, However, continuous research is in progress which would indicate the actual side effects of the guanidinoacetic acid.
Another major restraining factor was the shortage in production, unavailability of quality raw materials due to the COVID-19 pandemic, and the slow economy, posing a threat to the growth of the market.
REGIONAL INSIGHTS
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"Asia Pacific Region Dominates the Market Growth Due to the Presence of Key Players"
Asia Pacific region dominates the guanidinoacetic acid market due to the presence of key players functioning in this region. Population expansion, rise in manufacturing units, availability of raw materials, and increase in health-friendly consumerist culture will lead the market growth in this region.
North America holds the second-largest market share owing to technological advancements, robust economy, presence of key players, and high living standards. Increasing disposable incomes and surging consumer demand across various segments will create promising opportunities for the regional market.
KEY INDUSTRY PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Market players are adopting various growth and expansion strategies to boost their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Evonik (Germany)
- Tiancheng Chempharm (U.S)
- Jiangsu Yuanyang (China)
- Hubei Yuanhua (China)
- Hebei Daxiao (China)
- GENDONE (China)
- Shijiazhuang Zexing Group (China)
- Lubon Industry (China)
REPORT COVERAGE
This report covers the analysis of the guanidinoacetic acid market providing in-depth research market insights taking into consideration of the existing key players in the market that would play a crucial role in the forecasting period. It also offers a report based on segmentation, opportunities, developments and research, trends, growth, size, share, and restraints. The report covers an overview of the latest driving factor in the industry, dominant region, and innovation.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 37 Million in 2022 |
| Market Size Value By | US$ 47 Million by 2028 |
| Growth Rate | CAGR of 4.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the global guanidinoacetic acid market expected to touch by 2028?
The global guanidinoacetic acid market is expected to reach USD 47 million by 2028.
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What CAGR is the guanidinoacetic acid market expected to exhibit by 2028?
The guanidinoacetic acid market is expected to exhibit a CAGR of 4.1% by 2028.
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Which are the driving factors of the guanidinoacetic acid market?
The rise in health-friendly products and diversification of application base are the driving factors of the guanidinoacetic acid market.
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Which are the top companies operating in the guanidinoacetic acid market?
Evonik, Tiancheng Chempharm, Jiangsu Yuanyang, Hubei Yuanhua, Hebei Daxiao, GENDONE, Shijiazhuang Zexing Group, and Lubon Industry are the key companies operating in the guanidinoacetic acid market.
