Glutamic Acid Market Size And Forecast
Glutamic Acid Market size was valued at USD 11.59 Billion in 2024 and is projected to reach USD 17.66 Billion by 2031, growing at a CAGR of 5.4% from 2024 to 2031
Global Glutamic Acid Market Size By Application, By Competitive Landscape, By Geographic Scope And Forecast
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Glutamic Acid Market Size By Application, By Competitive Landscape, By Geographic Scope And Forecast
Global Glutamic Acid Market Drivers
Numerous aspects of glutamic acid’s applications, technological developments, and market dynamics are among the market drivers. The main motivators are as follows
- Expanding Food and Drink Sector In the food industry, glutamic acid (also known as monosodium glutamate, or MSG) is frequently employed as a flavour enhancer. The industry is being driven mostly by the growing demand for convenience and processed meals.
- Growing Need for Animal Feed Glutamic acid is used by the animal feed industry to enhance the nutritional value and palatability of feed, promoting the general well-being and growth of cattle. The growing global consumption of meat is driving this sector’s expansion.
- Growing Usage in Medicines and Health Care Because it plays a part in protein synthesis and metabolism, glutamic acid is used as a nutritional supplement and in pharmaceutical manufacturing to synthesise medicines. The need for glutamic acid is increased by the expanding pharmaceutical industry.
- Expanding Market for Nutraceuticals Because glutamic acid has been shown to improve brain function and promote muscle metabolism, there is a growing demand for nutraceutical products that incorporate this acid due to its increased awareness of health and wellness.
- Products for Personal Care and Cosmetics Because glutamic acid is moisturising and conditioning, it is used in skincare and haircare products. Growth in the market is supported by the personal care business, which is growing due to increased consumer knowledge of skincare.
- Eco-friendly Chemistry and Biodegradable Polymers The development of biodegradable polymers using glutamic acid is encouraged by the trend towards environmentally friendly and sustainable products. The market is benefiting from developments in green chemistry and the creation of bio-based goods.
- Technological Progress Glutamic acid manufacturing is now more economical and efficient because to developments in fermentation technology, which in turn promotes market expansion.
- Urbanisation and Population Growth The need for a variety of end-use products containing glutamic acid, ranging from food to personal care items, is driven by the growing worldwide population and urbanisation.
Global Glutamic Acid Market Restraints
Several factors can act as restraints or challenges for the Glutamic Acid Market. These may include
- Cost and Availability of Raw Materials Glutamic acid production is highly dependent on the price and availability of raw materials such as molasses and sugar. The market is volatile because changes in the price of these raw materials might have an impact on the total cost of manufacturing.
- Concerns about the environment and regulations Glutamic acid production has the potential to produce large volumes of waste and contaminants. Manufacturers are being forced to implement greener methods due to stricter environmental restrictions and sustainability concerns. However, this could raise production costs and have an adverse effect on profitability.
- Market Rivalry There are many competitors in this fiercely competitive sector, ranging from major global firms to tiny local producers. Price wars brought on by fierce competition have the potential to reduce business margins.
- Financial Elements Consumer spending and industrial demand for products that employ glutamic acid, like processed foods and pharmaceuticals, might decline during economic downturns or unstable periods in important markets.
- Alternative Technologies and Ingredients The need for natural glutamic acid may decline with the creation and use of substitute components or synthetic amino acids. Technological developments in synthetic biology and biotechnology may provide more affordable or ecologically friendly alternatives.
- Safety and Health Issues Despite widespread consensus that glutamic acid and its derivatives, such as monosodium glutamate (MSG), are safe, there are ongoing discussions and worries about their potential health risks. New scientific discoveries or unfavourable customer views may lower demand.
- Supply Chain Interruptions The worldwide supply chain might be disrupted by pandemics, natural disasters, or geopolitical tensions, which can potentially affect the glutamic acid market. The delivery of completed goods and the availability of raw materials may be impacted by these interruptions.
- Technological Obstacles High-purity glutamic acid production necessitates sophisticated machinery and knowledge. Smaller companies or recent market entrants may have trouble obtaining the required technologies or effectively ramping up production.
Global Glutamic Acid Market Segmentation Analysis
The Global Glutamic Acid Market is Segmented on the Basis of Application And Geography.
Glutamic Acid Market, By Application
- Food additives
- Pharmaceutical
- Animal & Pet Food
Based on Application, the market is segmented into Food additives, Pharmaceuticals, and Animal & Pet Food. Food additives staked a major share in the development of the Glutamic Acid Market. Glutamic corrosive is utilized for upgrading the flavor of food. This acid is often found in processed meat, snacks made of carbohydrates, canned vegetables, and dairy products like bread, ice cream, and cheese. Additionally, the human body constructs protein building blocks with glutamic acid. One of the primary drivers of the segment’s expansion is also the growing preference for ready-to-eat food products.
Glutamic Acid Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
On the basis of Geography, the Global Glutamic Acid Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific is expected to be the fastest-rising Glutamic Acid segment. This can be attributed largely to the growing demand for packaged food in developing countries such as China and India. Growing population, increasing buying power parity, and rising demand for natural food additives are also expected to drive the Glutamic Acid Market over the forecast period.
Key Players
The major players in the Glutamic Acid Market are
- Global Bio-chem Technology Group Company
- Bachem AG
- Ningxia EPPEN Bioengineering Stock Co. Ltd
- Kyowa Hakko Bio Co. Ltd
- Sichuan Tongsheng Amino Acid Co., Ltd
- Iris Biotech GmbH
- Suzhou Yuanfang Chemical Co. Ltd.
- Ajinomoto Co., Inc.
- Limited
- Akzo Nobel N.V.
- Evonik Industries AG.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Global Bio-chem Technology Group Company, Bachem AG, Ningxia EPPEN Bioengineering Stock Co., Ltd, Kyowa Hakko Bio Co. Ltd. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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