Increasing demand for processed food and packaged food is expected to generate business of for monosodium glutamate as it is majorly used to enhance the flavor of the food products. The meat, poultry, and fish industries are expanding significantly as a result of rising protein-rich food intake because it is seen to be healthy. Additionally, greater reliance on meat that has been packaged neatly due to an increased preference for convenience is likely to have an impact on the expansion of the MSG market.
According to the market analysis, the monosodium glutamate market is segmented into end user, sales channel, and region. By end user, it is segregated into food processing & services industry, livestock & pet food industry, retail sector and others. On the basis of sales channel, it is segmented into business to business and business to consumers. The business to consumer segment is further segregated into supermarket/hypermarket, online stores and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, France, Spain, Italy, Russia, Germany and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The population’s growing interest in the availability of new items on the market is expected to lead to an increase in the LAMEA monosodium glutamate market. Selling in bulk to food and beverage manufacturing companies is one way that major market players make a sizable profit margin. Additionally, these companies must build a robust distribution network to succeed. In this regard, the most often used method of supplying MSG to food processing industries is through business-to-business sales channels. Furthermore, some firms are implementing bundling tactics to increase the availability and production of MSG. The demand for various food, beverage, and dairy products that use MSG as a food additive is predicted to be driven by the expansion of the tour and travel industry, development of the food & beverage sector, and increase in disposable income of people in LAMEA region which will subsequently boost the LAMEA monosodium glutamate market.
The major players operating in the monosodium glutamate industry are HIYA INTERNATIONAL, PURAMAT, MEIHUA HOLDINGS GROUP CO., LTD, Fufeng Group, Ningxia Eppen Biotech Co., Ltd, Linghua Group Limited, Vedan International (Holdings) Limited., Arshine Pharmaceutical Co., Ajinomoto, Global Bio-Chem Technology Group Company Limited, Glutamate Association, Cargill, Incorporated, COFCO Biochemical, Foodchem International Corporation and PRAKASH CHEMICALS AGENCIES PVT. LTD.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the monosodium glutamate market analysis from 2021 to 2031 to identify the prevailing monosodium glutamate market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the monosodium glutamate market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global monosodium glutamate market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
- Food Processing and Services Industry
- Livestock and Pet Food Industry
- Retail sector
- Others
By Sales Channel
- Business to Business
- Business to Consumers
- Subtype
- Supermarket/Hypermarket
- Online Stores
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Foodchem International Corporation
- Cargill, Incorporated
- B&G Foods, Inc
- Tate & Lyle
- RM Chemicals
- Linghua Group Limited
- Puramate
- The Glutamate Association
- Ajinomoto Co., Inc
- Meihua Holdings Group Co, Ltd
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Table of Contents
Executive Summary
According to the report titled, “Monosodium Glutamate Market," the monosodium glutamate market was valued at $4.4 billion in 2021, and is estimated to reach $9.8 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.Monosodium glutamate (MSG) is primarily used to enhance the flavor of a wide range of food products throughout the world. Since the last 30 years, the food processing sector has become increasingly interested in employing MSG. MSG has been dubbed the most contentious food component due to its unfavorable effects on both humans and animals by numerous research. MSG is a white, crystalline sodium salt of glutamic acid that has no odor. It can exist as a solid with a neutral zwitterionic structure or under slightly acidic conditions.
The expansion of the monosodium glutamate market is expected to be driven by rising demand from the food processing sectors. The global monosodium glutamate market has grown as a result of the expanding food and animal feed sectors, particularly in China and India, which have created both domestic and commercial markets. Fast food’s rising popularity is a significant development that should offer MSG manufacturers a variety of opportunities. The recent surge in the trend of snacking in developing and developed regions has boosted the demand for MSG. Rising popularity for fast food and increasing use of food additives including MSG are likely to influence the growth of the MSG market during forecast period. Food items such as sauces & jams, meat products, dairy products, confectionery, bakeries, and others are prepared and processed by adding monosodium glutamate (MSG). It plays a major role in the food processing and services industry; it has various uses and helps to increase flavor. In the dairy industry, MSG plays an important role as not only does it help in developing flavor. Increasing consumption of ready-to-eat food across the globe owing to hectic lifestyle is expected to fuel the demand for ready-to-eat products including bakery and confectionery products, which boosts the demand for MSG during the forecast period. Furthermore, increasing use of MSG for enhancing various cuisine and luxurious food in hotels and increasing trend of fast food are likely to bolster the growth of the monosodium glutamate market during forecast period. For instance, according to article published by Research Journal of Pharmacy and Technology (RJPT) in 2019, Sugar cane, which serves as the primary raw material for MSG, is produced in Brazil at a high rate worldwide. As a result, there are now numerous MSG production companies in that area. The China-based Fufeng Group is the largest manufacturer of MSG, while “Meihua” is the second largest producer, according to the Japan-based company “Ajinomoto,” which claims to hold approximately 30% of the market.
The market for monosodium glutamates has seen significant growth in sales as a result of the rising demand for instant noodles, hotpot, and soups. Glutamates have a strong flavor and are used to season meat. These flavor boosters are the perfect choice for quick-service restaurants because of their high quality and affordable attributes. Monosodium g Due to their soothing effects, glutamates are also extensively used in the food processing business due to their soothing effects. Additionally, Monosodium glutamates has the ability to heighten the taste of the traditional Japanese umami flavor.
According to the market analysis, the monosodium glutamate market is segmented into end user, sales channel, and region. By end user, it is segregated into food processing & services industry, livestock & pet food industry, retail sector and others. On the basis of sales channel, it is segmented into business to business and business to consumers. The business to consumer segment is further segregated into supermarket/hypermarket, online stores and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, France, Spain, Italy, Russia, Germany and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include HIYA INTERNATIONAL, PURAMAT, MEIHUA HOLDINGS GROUP CO., LTD, Fufeng Group, Ningxia Eppen Biotech Co., Ltd, Linghua Group Limited, Vedan International (Holdings) Limited., Arshine Pharmaceutical Co., Ajinomoto, Global Bio-Chem Technology Group Company Limited, Glutamate Association, Cargill, Incorporated, COFCO Biochemical, Foodchem International Corporation and PRAKASH CHEMICALS AGENCIES PVT. LTD. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and expansion to remain competitive and gain an advantage over the competitors in the market.
Key Market Insights
- By end user, the livestock and pet food industry segment is estimated to reach $1,383.5 million by 2031, with a CAGR of 8.6%. However, the retail sector segment is expected to be the fastest growing segment during the forecast period.
- Based on sales channel, the business to consumers segment is estimated to reach $2,419.9 million by 2031, with a CAGR of 9.4%.
- Based on region, North America was the second highest revenue contributor and is estimated to reach $2,088.5 million by 2031, with a CAGR of 7.5%.
Companies Mentioned
- Foodchem International Corporation
- Cargill, Incorporated
- B&G Foods, Inc
- Tate & Lyle
- RM Chemicals
- Linghua Group Limited
- Puramate
- The Glutamate Association
- Ajinomoto Co., Inc
- Meihua Holdings Group Co, Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 234 |
Published | February 2023 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 4395.3 million |
Forecasted Market Value ( USD | $ 9759.5 million |
Compound Annual Growth Rate | 8.3% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |