What Has Driven the Growth of the Glutamic Acid Market in Recent Years?
The glutamic acid market has seen considerable growth due to a variety of factors.
• In the past few years, the market size of glutamic acid has experienced significant growth. It is projected to rise from $12.29 billion in 2024 to $13.42 billion in 2025, with a compound annual growth rate (CAGR) of 9.2%.
The proliferation in the historic period can be linked to numerous factors, including the food and beverage industry, the pharmaceutical and healthcare industry, industrial applications, population growth, and an increase in the consumption of processed food.
What is the Market Size Forecast for the Glutamic Acid Market?
The glutamic acid market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the glutamic acid market is predicted to experience rapid expansion, with an estimated worth of $19.96 billion by 2029. This indicates a compound annual growth rate (CAGR) of 10.4%.
This anticipated growth during the forecast period is linked to the expanding pharmaceutical market, sustainable and biodegradable plastics, clean labeled food products, ongoing research and development, biofuels, and green chemistry. The forecast period is also expected to witness major trends, including the rise of plant-based glutamic acid, health and wellness supplements, advanced fermentation technologies, increased use of flavor enhancers, and customized nutrition.
What Factors Are Driving Growth In The Glutamic Acid Market?
Anticipated expansion in the food service sector is likely to enhance the growth trajectory of the glutamic acid market. The food service sector involves the preparation, distribution, and retailing of food and beverages to consumers outside their homes. Glutamic acid, commonly in the form of monosodium glutamate (MSG), is largely utilized to augment the taste of convenience and processed foods, meat and seafood products, and meals from across the globe. With customers increasingly seeking diverse, tasty, and easy-to-prepare meals, glutamic acid's demand is also on the rise. It provides a cost-effective way to intensify flavors, meets consumer tastes and trends, and aids in innovative food creation and product advancement. For instance, the United States Department of Agriculture, a federal agency based in the US, released a report in July 2023 stating that the food service and retail sectors supplied approximately $2.11 trillion in food worldwide in 2021 and $2.39 trillion in 2022, reflecting an increase of $0.28 trillion. Moreover, in 2021, global food service establishments supplied $1.16 trillion, which grew to $1.34 trillion in 2022. As such, the escalating demand for the food service sector is set to significantly influence the expansion of the glutamic acid market.
What Are The Main Segments Of The Global Glutamic Acid Market?
The glutamic acid market covered in this report is segmented –
1) By Product: Biosynthesis, Industrial Synthesis
2) By Source: Plant-Based, Animal Based
3) By Application: Pharmaceutical, Food Additives, Animal and Pet Food, Other Applications
Subsegments:
1) By Biosynthesis: Fermentation Process, Enzymatic Process
2) By Industrial Synthesis: Chemical Synthesis, Ammonium Hydrolysis Process
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What Emerging Trends Are Influencing The Growth Of The Glutamic Acid Market?
In the glutamic acid market, the trend of strategic partnerships and collaborations is becoming increasingly prevalent. Major players in this market are forming alliances and partnerships to maintain their market position. For example, in March 2023, Corteva, Inc., an American agricultural chemical firm and Bunge Limited, a US-based food corporation, unveiled a joint venture to produce healthier soybean meals for the animal feed sector, especially poultry, swine, and aqua feed. This long-term partnership leverages Corteva's skills in germplasm, gene editing, and trait identification to develop soybean variants with higher protein content, balanced amino acid compositions, and fewer anti-nutritional factors. Bunge has exclusive rights to process the oilseed and sell the high-value meal and oil. The initiative intends to minimize usage of artificial additives in animal feed, decrease costs, and cut carbon emissions. The firms aim to bring these soybean variants to market by the decade's end.
Who Are the Key Players in the Glutamic Acid Market?
Major companies operating in the glutamic acid market include:
• AMINO GmbH
• Evonik Industries AG
• Fufeng Group
• Hefei TNJ Chemical Industry Co Ltd.
• Kyowa Hakko Bio Co Ltd.
• Medinex Laboratories Pvt Ltd.
• Sichuan Tongsheng Amino acid Co Ltd
• Wuhan Amino Acid Bio-Chemical Co Ltd.
• Global Bio-chem Technology Group Company Limited
• Ningxia Yipin Biological Technology Co Ltd.
• Akzo Nobel N.V.
• Iris Biotech GmbH
• Luojiang Chenming Biological Products Co Ltd.
• Ajinomoto Co Inc.
• Haihang Industry Co Ltd.
• Avenit AG
• Suzhou Yuanfang Chemical Co Ltd.
• CJ CheilJedang Corp
• Meihua Holdings Group Co Ltd.
• Ningxia Eppen Biotech Co Ltd.
• Shandong Linghua Monosodium Glutamate Incorporated Company
• COFCO Biochemical
• Cargill Incorporated
• Ambuja Group
• Roquette Frères
What Is The Most Dominant Region In The Glutamic Acid Market?
North America was the largest region in the glutamic acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glutamic acid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
