Glutamic Acid Market: Global Industry Analysis and Forecast (2022-2029)

Glutamic Acid Market size was valued at US$ 11.05 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 7.6% from 2022 to 2029, reaching nearly US$ 18.45 Bn.
Glutamic Acid Market Overview:
Glutamic Acid Market is expected to reach US$ 15.94 Bn. by 2029. Glutamic acid is an amino acid that is employed in the production of proteins. It is converted to glutamate in the body. This report focuses on the different segments of the Glutamic Acid market (Source Type, Function, Application, and Region). This report examines the major industry players and regions in depth (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough study of today's rapid improvements across many industries. Facts and numbers, visualisations, and presentations are used to present the primary data analysis for the historical period from 2017 to 2022. The market drivers, restraints, opportunities, and challenges for Glutamic Acid are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Glutamic Acid market.

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Glutamic Acid Market Dynamics:
During the forecast period, rising need for animal feed, combined with increased use of food additives and enhancers in the food and beverage industry, is expected to drive product demand. The spread of the COVID-19 virus has impacted negatively on various economies and disrupted supply chains across a wide range of businesses. The demand for glutamic acid from end-use industries has a big impact on its production and consumption. As a result, any changes in demand from end-use industries are expected to have a direct impact on glutamic acid demand. Individuals' growing knowledge of the need of eating healthy foods has boosted glutamic acid demand in the food and beverage and pharmaceutical industries.

Coryneform bacteria, glucose, and sugarcane molasses are the main raw materials utilised to make glutamic acid. The product is made utilising the essential raw materials in a fermentation process that includes phases like fermentation, centrifugation, carbon adsorption, evaporation, crystallisation, and ion exchange, among others. Fermentation has gained popularity among producers due to the high quality and pureness of the products obtained. The process, however, is capital-intensive and requires a lot of electricity and water.

Ambuja Group, Roquette Frères, Cargill, Incorporated, Eurosweet GmbH, Mahajan Molasses Company, and United States Biological are among the major raw material suppliers. These suppliers are well-established players with a robust distribution network who have been in the industry for a long time.
Glutamic Acid Market Segment Analysis:
Based on the Application, the market is segmented into Food & Beverages, Pharmaceuticals, Animal Feed, and Others. Food & Beverages segment is expected to hold the largest market share of xx% by 2029. This is due to the increasing use of glutamic acid as a taste enhancer in the food and beverage industries. MSG, a glutamic acid molecule, is commonly used to improve the flavour of canned vegetables, salad dressings, soups, processed meat, carbohydrate-based snacks, and dairy items such as ice cream, bread, and cheese. The growing popularity of convenience foods and ready-to-drink beverages around the world is expected to boost glutamic acid demand in the food and beverage industry.

Pharmaceuticals application segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. In pharmaceutical applications, glutamic acid is used to prevent nerve damage during chemotherapy and to treat a variety of disorders, including epilepsy, muscular dystrophy, neurotransmission abnormalities, and cognitive and behavioural issues. Favourable government policies supporting the pharmaceutical company, together with increasing private sector investment, are expected to drive the pharmaceutical industry, which, in turn, is expected to raise glutamic acid demand during the forecast period.

Based on the Source Type, the market is segmented into Animal Based and Plant Based. Animal Based source type segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Animal proteins, such as meat, dairy, and eggs, generally contain all of the required glutamic acid. Some glutamic acid is abundant in plant-based proteins such as beans, grains, nuts, and soy, whereas others may be lacking. A well-balanced diet rich in a range of foods can meet the body's protein requirements.

L-lysine, L-threonine, and L-tryptophan are the three most important fermentable glutamic acid for animal nutrition. Chemical synthesis is still used to make DL-Methionine for animal feed, whereas enzymatic resoluting is used to make a medicinal grade.
Glutamic Acid Market Regional Insights:
Asia Pacific region is expected to dominate the Glutamic Acid Market during the forecast period 2022-2029. The Asia Pacific region is expected to hold the largest market share of xx% by 2029. This is due to the rise of end-use sectors in the region's rising economies, such as animal feed, pharmaceuticals, cosmetics and personal care, and food and beverage. With a production capacity of about 187 million metric tonnes per year, China is one of the region's leading feed producers.

The presence of an enormous livestock population in nations like India and China is expected to increase demand for animal feed. Because of the increased appetite for meat in local cuisines, pork and poultry have emerged as the most important livestock segments in Asia Pacific. Due to large-scale cattle agricultural activities, Vietnam and Thailand are among the most key market for animal feed in the region.

North America region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The increased need for pharmaceuticals and animal feed in North America is expected to drive glutamic acid consumption. The substance is used in the pharmaceutical industry to make a variety of medications for the treatment of disorders like epilepsy and cognitive issues.

The objective of the report is to present a comprehensive analysis of the Global Glutamic Acid Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Glutamic Acid Market dynamic and structure by analyzing the market segments and projecting the Global Glutamic Acid Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Glutamic Acid Market make the report investor’s guide.
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Glutamic Acid Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 11.05 Bn.


Forecast Period 2023 to 2029 CAGR:
7.6%
Market Size in 2029:
US $ 18.45 Bn.


 Segments Covered:
by Source Type
• Animal Based
• Plant Based


by Function
• Metabolism
• Neurotransmitter
• Detoxifying agent
• Flavor Enhancer
• Nutrient
• NMR Spectroscopy
• Plant Growth
• Others


by Application
• Food & Beverages
• Pharmaceuticals
• Animal Feed
• Others



Glutamic Acid Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Glutamic Acid Market Key Players
• Bio-chem Technology Group Company Limited
• Sichuan Tongsheng Amino Acid Co., Ltd
• Suzhou Yuanfang Chemical Co. Ltd
• Shaanxi Sciphar Hi-tech Industry Co., Ltd
• EPPEN Bioengineering Stock Co., Ltd
• Evonik Industries AG
• Kyowa Hakko Bio Co., Ltd
• Tokyo Chemical Industry Co., Ltd
• Sunrise Nutrachem Group
• Kyowa Hakko Bio Co., Ltd
• Tocris Bioscience Ltd
• Iris Biotech GmbH
• Ajinomoto Co., Inc
• Prinova U.S. LLC
• AnaSpec Inc.
• Royal DSM
• Bachem AG
• Ningxia

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Glutamic Acid Market?
Ans. Asia Pacific is expected to hold the highest share in the Glutamic Acid Market.

2] Who are the top key players in the Glutamic Acid Market?
Ans. Global Bio-chem Technology Group Company Limited, Sichuan Tongsheng Amino Acid Co., Ltd, Suzhou Yuanfang Chemical Co. Ltd, Shaanxi Sciphar Hi-tech Industry Co., Ltd, and EPPEN Bioengineering Stock Co., Ltd are the top key players in the Glutamic Acid Market.

3] Which segment is expected to hold the largest market share in the Glutamic Acid Market by 2029?
Ans. Food & Beverages application segment is expected to hold the largest market share in the Glutamic Acid Market by 2029.

4] What is the market size of the Glutamic Acid Market by 2029?
Ans. The market size of the Glutamic Acid Market is expected to reach US $ 18.45 Bn. by 2029.

5] What was the market size of the Glutamic Acid Market in 2022?
Ans. The market size of the Glutamic Acid Market was worth US $ 11.05 Bn. in 2022.