The Glutamic Acid Market was valued at US$ 10,430.2 Mn in 2021, according to the Glutamic Acid Market Report, 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), published by Coherent Market Insights.
The global Glutamic Acid Market was valued at US$ 10,430.2 Mn in terms of revenue in 2021 and is predicted to grow at a CAGR of 5.8% during the forecast period (2022 to 2030).
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https://www.coherentmarketinsights.com/market-insight/glutamic-acid-market-5488
Browse 16 market data tables* and 16 figures* on “Glutamic Acid Market” - Forecast to 2030.
Key Trends and Analysis of the Global Glutamic Acid Market:
- Glutamic acid is generally found in numerous kinds of protein compounds. These acids are used as food additives and food enhancers to improve the flavor of food. It is widely found in meat, soy protein, some type of algae, and cereals, among others. The increasing awareness about healthy food consumption boosts growth for this industry. Moreover, glutamic acid is used for the functioning of human cells and the detoxification of nitrogen from the body. The salts of glutamic acid are called glutamates which act as a neurotransmitter. In addition, glutamic acid is used as a food supplement for muscular growth in sportspersons. Furthermore, it is used in skin tightening products which aids in the production of new skin cells.
- Glutamic acid is produced by using a fermentation process that offers pure and high-quality products. The raw materials used for this fermentation process are sugarcane molasses, coryneform bacteria, and glucose. In the pharmaceutical sector, this acid is used as a nerve stimulant that acts as a neural drug. Moreover, it is used for the treatment of metabolic disorders. These are the major factor that is expected to experience ample opportunity across the global glutamic acid market.
Key Takeaways of the Global Glutamic Acid Market:
The glutamic acid market is valued at US$ 10,430.2 Mn in 2021 and is forecast to reach a value of US$ 17,368.5 Mn by 2030 at a CAGR of 5.8% between 2022 and 2030.
Among the application, the animal feed industry is likely to drive the global glutamic acid market throughout the forecast timeline. The rising demand for processed food, growing population, meat consumption, and high disposable income are the main factors that is likely to propel the global glutamic acid market. In Asia Pacific region, the consumption of poultry and pork is one of the most popular livestock which turned into the demand for animal-based products. Furthermore, the growing production of glutamic acid is driven by its demand for various kinds of end-use sectors such as pharmaceuticals, animal feed, skin & personal care, and food & beverages, among others. On the other hand, rising awareness among consumers about healthy food products has influenced the growth of glutamic acid in the coming years.
Key Players
- Major players operating in the glutamic acid market include IRIS BIOTECH GMBH, Ajinomoto Co., Inc., Akzo Nobel N.V., Evonik Industries AG, KYOWA HAKKO BIO CO., LTD., Sichuan Tongsheng Amino acid Co., Ltd, Ningxia Eppen Biotech Co., Ltd, Global Bio-chem Technology Group Company Limited., Otto Chemie Pvt. Ltd., and Hefei TNJ Chemical Industry Co., Ltd.
- These players are constantly engaged in agreements, mergers, acquisitions, and partnerships to gain a competitive advantage over other players.
Global Glutamic Acid Market - Impact of Coronavirus (COVID-19) Pandemic
The global economy was affected by the outbreak of the COVID-19 pandemic, as stringent regulations were declared by the government in 2020 and 2021. Owing to strict lockdown, industrial activities were terminated and international travel was stopped throughout the globe. Company players faced problems such as disturbance in manufacturing facilities due to breakdown in the supply chain. However, growing demand for glutamic acid throughout food and beverages sector is likely to accelerate the industry growth in following years.
