Global Glutamic Acid Strategic Industry Report 2024: Market to Reach $18.4 Billion by 2030, Driven by Rising Demand for Convenience and Packaged Foods


Dublin, May 17, 2024 (GLOBE NEWSWIRE) -- The "Glutamic Acid - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Glutamic Acid Market to Reach $18.4 Billion by 2030

The global market for Glutamic Acid estimated at US$10.8 Billion in the year 2023, is projected to reach a revised size of US$18.4 Billion by 2030, growing at a CAGR of 6.9% over the analysis period 2023-2030.



Food & Beverage application, one of the segments analyzed in the report, is projected to record 7% CAGR and reach US$14.2 Billion by the end of the analysis period. Growth in the Animal Feed application segment is estimated at 6.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 7.8% CAGR

The Glutamic Acid market in the U.S. is estimated at US$1.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$7.1 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR.

Key Attributes:

Report AttributeDetails
No. of Pages255
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$10.8 Billion
Forecasted Market Value (USD) by 2030$18.4 Billion
Compound Annual Growth Rate7.9%
Regions CoveredGlobal



MARKET OVERVIEW

  • Global Economic Update
  • Glutamic Acid - Global Key Competitors Percentage Market Share in 2023 (E)
  • An introduction to Glutamic Acid
  • Significance of Glutamic Acid in Different Functions of the Body
  • Key Benefits of Glutamic Acid
  • Global Market Prospects & Outlook
  • Developing Economies to Boost Long-term Growth
  • Competition
  • Recent Market Activity
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

MARKET TRENDS & DRIVERS

  • Growing Importance and Use of Food Additives and Enhances in Food & Beverage Industry Drives Market Gains
  • Rising Demand for Convenience and Packaged Foods to Boost Growth in Glutamic Acid Market
  • Global Packaged Food Sales in US$ Trillion for 2015, 2017, 2019, 2021 & 2023
  • Food Consumption Patterns to Influence Market Prospects
  • Monosodium Glutamate (MSG): Sustained Demand from Food & Industrial Applications
  • MSG Production, Applications & Regulations: An Overview
  • Rising Demand for Animal Feed to Spur Growth in Glutamic Acid Market
  • Pandemic-Induced Supply Chain Disruptions Impact Animal Feed Industry
  • Demand for Protein-Rich Diets Dictate Demand for Amino Acids as Feed Additives
  • Rising Demand for Meat and Meat-based Products to Influence Market Growth
  • Glutamic Acid Use in Pharmaceutical Products Continues to Grow
  • A Glance at Drug Delivery Applications of Poly-?-Glutamic Acid
  • Glutamic Acid as an Anticancer Agent: An Overview
  • Rising Cancer Incidence Raises Importance of Glutamic Acid
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Supported by Rising Awareness about Healthy Living, Glutamic Acid Use in Supplements on the Rise
  • Global Dietary Supplements Market Size (in US$ Billion) for the Years 2020, 2023 and 2026
  • Protein Powder Blends derived from Plant-based Sources
  • Personal Care & Cosmetic Products: Use of Glutamic Acid Holds Promise
  • Global Personal Care Market Growth Outlook (in %) for Years 2019 through 2025
  • Health Implications of Glutamic Acid Use in Processed Foods

FOCUS ON SELECT PLAYERS(Total 53 Featured)

  • Evonik Industries AG
  • Ajinomoto Co., Inc.
  • AnaSpec, Inc.
  • Global Bio-Chem Technology Group Co., Ltd.
  • Bachem AG
  • AMCO Proteins
  • Clariant AG
  • Amino GmbH
  • Central Drug House (P) Ltd.
  • Chaitanya Biologicals Pvt., Ltd.
  • Devson Impex Pvt., Ltd.
  • Hefei TNJ Chemical Industry Co., Ltd.
  • AF Biochem
  • Calzyme Laboratories, Inc.
  • Avanscure Lifesciences Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/my0m1e

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Glutamic Acid Market

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