In 2022, the global glutamic acid market is anticipated to reach a market value of US$ 9,723.1 Million, and by 2032, it is anticipated to reach a market value of US$ 15,164.2 Million, with a CAGR of 4.5%.
Global Glutamic Acid Market: Drivers and Restraints
Glutamic acid helps in improving the personality disorders and is used to treat behavioral disorders in children. Glutamic acid is also used for muscular dystrophy, mental retardation, ulcers, treat epilepsy, and hypoglycemic coma. Another factor, driving the market is the shifting preference towards natural food products further supported by rising health concerns. Glutamic acids are also used in dairy products to increase the shelf life and enhance the taste. However, the excessive intake of glutamic acid results in headaches and fatigue problems.
Global Glutamic Acid Market: Segmentation Overview
The global glutamic acid market is segmented by application into food additives, pharmaceutical, and animal & pet food. Amongst all the applications, food additives is a prominent application segment of the global glutamic acid market, and further, it is expected to maintain its dominance during the forecast period. Glutamic acid is anticipated to witness a substantial growth owing to growing application in processed food and animal feed industry. Furthermore, animal feed industry is projected to see a significant growth due to the rising global meat consumption along with surging high-quality meat products demand. Further, the shifting tendency towards the usage of processed food is further expected to bolster the glutamic acid market growth across the globe.
Glutamic acid is used as a food additive and also as a flavor enhancer in various packed and functional foods. Moreover, the rising consumer preference towards healthy food products along with better taste and nutrition is anticipated to enhance the sales during the forecast period.
Global Glutamic Acid Market: Regional Outlook
The glutamic acid market is segmented by regions into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia-Pacific excluding Japan (APEJ), and Japan. North America is expected to dominate in the glutamic acid market during the forecast period owing to the growing processed food industry in US and Mexico. APEJ is projected to experience a significant growth rate during the forecast period. Further, the demand for processed food in India, and China is expected to fuel the growth in the region. In Europe, the rising health concerns and the government regulations regarding public health and feed additives are supposed to impact the market significantly.
Global Glutamic Acid Market: Prominent vendors
The prominent players in the global 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., and Evonik Industries AG,. To ensure product differentiation and to gain a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2012 – 2016
- Market Size & Forecast 2017 to 2027
- Supply & Demand Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis for Market includes
- North America
- Latin America
- Europe
- Asia Pacific & Japan
- The Middle East and Africa
The global glutamic acid market is segmented by application,
- Food additives
- Pharmaceutical
- Animal & Pet Food
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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