The global Glutamic Acid market is projected to reach 19,443.5 by 2030, growing at a CAGR of 7.1%
One of the major factors expected to drive the glutamic acid market over the forecast period is Growing processed food industry owing to its easy availability. Other factors fueling the market growth is shifting preferences of people towards natural food additives because of rising health concerns. Moreover, glutamic acid is used to enhance taste as well as shelf life of dairy products, thus rising consumption of dairy products is further probable to propel market demand. On the other hand, one of the factor restraining market over the forecast spell is extreme intake of glutamic acid can result in headaches plus fatigue problems.
The global glutamic acid market has been segmented by different application and geography. Further, application segment of the market is sub-divided into food additives, animal & pet food and pharmaceutical. Food additives division of application segment dominates the segment of the glutamic acid market and is anticipated to maintain the same over the forecast period. Furthermore, glutamic acid is expected to record a substantial growth due to rising application in processed food as well as animal feed business. Additionally, animal feed business is likely to witness a noteworthy growth owing to the increasing meat consumption across the globe with augmenting demand for high-quality meat products.
Geographical segmentation of global glutamic acid market segmented into several key regions covering Latin America, North America, Europe, Middle East & Africa (MEA) and Asia-Pacific. Amongst these key region North America is predictable of dominating the glutamic acid market over the forecast period because of the rising processed food industry in the US and Mexico. However, Asia-Pacific is anticipated to grow at a significant growth rate by the end of forecast spell. Besides, the demand for processed food in India and China is likely to impel the growth in this region. Besides, in Europe, the growing health concerns and stringent government regulations about public health as well as feed additives are expected to impact the market significantly.
The Key players operating in glutamic acid market across the globe include Ningxia EPPEN Bioengineering Stock Co. Ltd, Global Bio-chem Technology Group Company Bachem AG, Iris Biotech GmbH, Kyowa Hakko Bio Co. Ltd, Suzhou Yuanfang Chemical Co. Ltd., Sichuan Tongsheng Amino Acid Co. Ltd, Ajinomoto Co. Inc. ltd., Akzo Nobel N.V. & Evonik Industries AG. Besides, in order to ensure product differentiation and expand a considerable glutamic acid market share prominent vendors are implementing several strategies as well as continuously developing innovative products.
Glutamic Acid Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Ningxia EPPEN Bioengineering Stock Co. Ltd, Global Bio-chem Technology Group Company Bachem AG, Iris Biotech GmbH, Kyowa Hakko Bio Co. Ltd, Suzhou Yuanfang Chemical Co. Ltd., Sichuan Tongsheng Amino Acid Co. Ltd, Ajinomoto Co. Inc. ltd., Akzo Nobel N.V.|
Key segments of the global glutamic acid market include:
- Application Segment
- Food additives
- Animal & pet food
- Geographical Segment
- Latin America
- North America
- Middle East & Africa (MEA)