Press release
Glutamic Acid Market Set to Reach US$ 15,787.8 Million with a Remarkable 4.7% CAGR by 2033
Glutamic Acid Market
The glutamic acid market has enormous development potential due to rising demand from end-use sectors such as animal feed, medicines, and food and beverages, among others. Another application of glutamic acid is as a flavor enhancer in processed foods, which will boost glutamic acid market expansion in the approaching years.
Consumer demand for healthier foods is propelling the worldwide glutamic acid sector forward. Glutamic acid is a food enhancer that has many health benefits. Furthermore, the public globally favors healthful diets, which increases the need for glutamic acid. Increased use of energy drinks and processed and packaged foods are important drivers driving worldwide glutamic acid market growth.
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The price of glutamic acid has risen due to rising demand in the livestock nutrition and food and beverage industries. Glutamic acid is used in the personal care and cosmetics industries to alter the pH of cosmetics and personal care products. It can be utilized in anti-aging creams, infant merchandise, eye cosmetics, hair care products, cosmetics, and bath products. It is used in anti-aging and acne lotions because of its ability to improve skin health, inhibit free radical damage, and preserve moisture.
Glutamic acid is used in pharmaceutical applications to treat a wide range of diseases in humans, including epileptic seizures, muscular atrophy, neurotransmission imbalances, and cognitive and behavioral problems, as well as to avoid nerve damage during chemotherapy. Favorable government policies supporting the pharmaceutical industry, as well as increasing private firm investment, are projected to promote the pharmaceutical industry, boosting glutamic acid usage in the coming years.
Excess glutamic acid consumption has a deleterious impact on normal health. This can result in nasal swelling, skin irritation, migraines and nausea. Additionally, a high glutamic acid intake causes allergic reactions, throat swelling, skin burning, and other health problems. These elements have an adverse effect on the glutamic acid market. However, the physician-recommended limited consumption of glutamic acid in supplement nourishment is likely to outweigh the concerns about glutamic acid's unfavorable side effects.
Key Takeaways
The glutamic acid industry in the United States was predicted to hold a value share of 26% globally in 2022.
The glutamic acid market in the United Kingdom is projected to be expanding at a CAGR of 5.1% from 2023 to 2033.
During the forecast period, the market for glutamic acid in China is expected to secure a 11.4% CAGR.
The value share of the glutamic acid industry in Japan was estimated to reach 3.6% in 2022.
India's glutamic acid industry is predicted to move forward at a 3.1% CAGR during the forecast period.
Competition in the Market
The presence of multiple established competitors in the glutamic acid market share is very competitive. To capitalize on market growth prospects, these organizations are focusing on increasing their footprint through acquisitions, expansions, product approvals, and launches.
Evonik Industries AG, KYOWA HAKKO BIO CO., LTD., Sichuan Tongsheng Amino acid Co., Ltd, Ningxia Eppen Biotech Co., Ltd, Global Bio-chem Technology Group Company Limited., Otto Chemie Pvt are the key players operating in the market.
Recent Developments
Iris Biotech brought out its photoaffinity labeling by diazirine building blocks suitable for the analysis of protein-protein and RNA-protein interactions in June 2023.
In June 2023, Bachem, a leading company in developing peptides and oligonucleotides, explained their use of Solid Phase Peptide Synthesis (SPPS).
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Key Segments Profiled in the Glutamic Acid Industry Survey
Glutamic Acid Market by Application:
Food additives
Pharmaceuticals
Animal & Pet Food
Glutamic Acid Market by Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
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