The global glutamic acid market is anticipated to reach an evaluation of US$ 15,164.2 million by 2032, rising from US$ 9,723.1 million in 2022. The market is slated to register an average CAGR of 4.5% from 2022 to 2032. Also known as proteinogenic amino acid, glutamic is mostly used in various dietary supplements as it assists with building protein blocks.
The glutamic acid market contains immense potential for growth owing to surging demand from end-use industries like animal feed, pharmaceuticals, and food and beverages, among others. Another application of glutamic acid is as a flavor enhancer in processed food products which drives the growth of the glutamic acid market in the upcoming years.
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Glutamate is a non-essential amino acid that is vital for the proper functioning of cells. It also detoxifies ammonia from the body and acts as a neurotransmitter in the nervous system. Glutamate is crucial for the normal and healthy functioning of the brain.
It helps with the management of muscular dystrophy, schizophrenia, and others while also improving heartbeat function. The rising awareness of these health benefits of glutamic acid fuels the expansion of the glutamic acid market size. Again, the surging consumption of nutritious food all over the world will augment the global sales of glutamic acid during the assessment period.
Glutamic acid also finds expansive usage in the pharmaceutical industry. In this sector, glutamic acid gained widespread application due to its various benefits. It serves as an anticancer drug enhancer which improves the efficacy of the drug. Furthermore, glutamic acid treats and manages personality disorders, ulcers, epilepsy, hypoglycemic coma, and many others.
The food and beverage industry also offers varied opportunities for growth in the glutamic acid market. Glutamic acid’s function as a food enhancer and its nutritional value encourage its usage in the food and beverage sector. Increasing demand for packaged food, the growing demand for natural food items, and the need for products with better shelf life are certain considerations that propel the demand for glutamic acid in the food and beverage sector. Though all of these factors invite growth for the market, certain aspects also limit its growth. Rising concerns regarding the risks associated with the excessive intake of glutamic acid will dampen market growth during the projection period.
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Key Takeaways:
- Based on application, the food additives segment will dominate the global marketplace with a 40% share of the overall market.
- Rising demand for processed food will strengthen prospects for the glutamic acid market.
- In 2022, North America’s glutamic acid market accounted for 29.4% of the overall market share.
- The glutamic acid market in Europe held 27.5% of the overall market share.
Competitive Landscape
Bachem AG, Ajinomoto Co., Inc, Evonik Industries AG, Bio-chem Technology Group Company, Iris Biotech GmbH, and Kyowa Hakko Bio Co., Ltd, among others, are a few of the prominent participants in the glutamic acid market profiled in the full version of the report.
In a competitive environment, key market players are keen on producing novel and innovative products to attract a wider consumer base. These participants also adopt various research strategies to enhance their products and gain a competitive edge. For instance, Ajinomoto Co., Inc, invests extensively in research activities to better understand the benefits of glutamic acid.
More Insights Into Glutamic Acid Market
FMI offers an unbiased analysis of the global glutamic acid market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. In its latest report, FMI offers a holistic study of a ten-year sales prospect, market drivers, restraints, trends, and opportunities. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of application, and region.
As per the report, based on segmentation, the food additive application segment will create high demand for the glutamic acid market. This segment accounted for 40% market share and is driven by a growing demand for healthy food options. Based on region, the glutamic acid market in North America will display significant growth.
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The target market in this region accounted for a 29.4% share of the overall market. Increasing demand for processed food in the US and Mexico, rising use of glutamic acid in the pharmaceutical and food and beverage sector, and increasing use of the acid in animal feed is responsible for the significant growth of the glutamic market in North America. Europe will also present notable growth in the glutamic acid market owing to surging demand for food additives and packaged food. Thus, North America and Europe will contribute immensely to the global growth of the glutamic acid market.
Key segments
Glutamic Acid Market by Application:
- Glutamic Acid for Food additives
- Glutamic Acid for Pharmaceuticals
- Glutamic Acid for Animal & Pet Food
Glutamic Acid Market by Region:
- North America Glutamic Acid Market
- Latin America Glutamic Acid Market
- Europe Glutamic Acid Market
- Asia Pacific Glutamic Acid Market
- Middle East & Africa Glutamic Acid Market
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