Glutamic Acid Market | Analysis and Forecast up to 2023
Occurrence of glutamic acid is quite common in almost every protein compound. It is found abundantly in cereals, meats, certain algae, and soy protein. Glutamic acid is also known as proteinogenic amino acid and its salts are known as glutamates. These are primarily used in food for enhancement of flavor. Glutamate is a non-essential amino acid, which is crucial for proper functioning of cells and for disposing excess nitrogen from human body. Glutamate acts as a neurotransmitter in the nervous system. Glutamic acid is primarily used as flavor enhancer in the processed food industry. Sodium salt of glutamic acid, known as monosodium glutamate (MSG), is extensively used as food additive in the food industry. Glutamic acid is used in animal feeds for the growth of poultry. Furthermore, glutamic acid is used in milk products to enhance taste. In pharmaceutical industry glutamic acid is used for metabolic disorder and also used as neural drugs for nerve stimulant. The global glutamic acid market is anticipated to expand significantly in the near future owing to rising application of processed food coupled with growth in the animal feed industry. The animal feed industry is likely to experience significant growth owing to rising meat consumption, increase in population, high disposable income, and growing demand for superior quality of meat food.
Increase in consumption of meat products would fuel the growth of the glutamic acid market. Processed foods and ready-to-eat foods are estimated to boost market growth during the forecast period. Glutamic acid is used for food additives and also for flavor enhancement in both processed as well as ready-to-eat foods. Increasing trend among consumers to opt for healthy and nutritional food is projected to fuel the demand for glutamic acid in the near future. Additionally, preference of natural food additives over synthetic food additives to eliminate health concerns would positively impact the demand for glutamic acid. Increase in consumption of dairy products is anticipated to boost the demand for glutamic acid.
Asia Pacific is projected to be the fastest growing market for glutamic acid in the next nine years. This can primarily be ascribed to rising demand for processed food in developing countries such as China and India. Increasing population coupled with rising purchasing power parity and growing demand for natural food additives is also likely to drive the glutamic acid market during the forecast period. However, North America, an established market, would be market leader due to the sustained growth of the processed food industry in the region. Europe is anticipated to play a vital role in the glutamic acid market due to strict government regulations, which support the market for natural food additives. Furthermore, consumption of processed and packaged food in North America and Europe is estimated to drive the demand for glutamic acid. The outlook for the glutamic acid market appears positive in other regions such as Latin America andthe Middle East, and Africa (MEA) due to its wide range of applications in food, poultry, and pharmaceutical industries.
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Some of the major companies operating in the global glutamic acid market include Bachem AG, Sichuan Tongsheng Amino acid Co., Ltd, Ajinomoto Co., Inc., Suzhou Yuanfang Chemical Co. Ltd., Iris Biotech GmbH, Global Bio-chem Technology Group Company Limited, Akzo Nobel N.V., Kyowa Hakko Bio Co., Ltd., Evonik Industries AG, and Ningxia EPPEN Bioengineering Stock Co., Ltd.
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