Glutamic Acid Market, By Application (Food & Beverages, Cosmetics & Personal Care, Pharmaceuticals, Animal Feed, and Others) and By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023

Code : CMI5488

Pages :120

Formats :

Excel and PDF

Industry : Green Chemicals

Glutamic Acid MarketSize and Trends

Global glutamic acid market is expected to surpass US$ 17,368.5 Mn by the end of 2030 and exhibit a CAGR of 5.8% during the forecast period (2022 to 2030).

Market Trends

Soaring demand for glutamic acid in the animal feed industry

The increasing consumption of poultry and aquatic products such as gees, pork, fish, chicken, beef, shrimp, turkeys, and others is projected to bolster the global glutamic acid market growth throughout the forecast timeline.

Figure 1. Global Glutamic Acid Market Revenue Share (%), By Region, 2021

Asia Pacific held the highest revenue share in 2021 and expected to witness substantial CAGR throughout the review period. The growing end-use industries such as food & beverages, animal feed, cosmetics, pharmaceuticals, personal care, among others are likely to propel the regional market growth. In the Asia Pacific region, China is a major leading animal feed producer due to its high population. Thailand and Vietnam are the main consumer industries for animal feed, owing to growing set-ups regarding cow farming.

On the other hand, North America accounted for the second-largest market share. Soaring demand for highly beneficial glutamic acid-based drug is projected to accelerate the growth of the glutamic acid market. Thes acids are widely used in pharmaceutical industry due to its health benefits. Glutamic acid is used to support prostate health, enhance athletic performance, boost the immune system, and for various benefits in digestive health. Thus, these are the main factors that result in the growing demand for glutamic acid throughout the region.