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Glutamic Acid Market Size, Share And Growth Analysis 2024 To 2033
Glutamic Acid Market
The Business Research Company presents an extensive market research report on the "Glutamic Acid Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Glutamic Acid industry. This report on Glutamic Acid market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The glutamic acid market size has grown strongly in recent years. It will grow from $11.29 billion in 2023 to $12.37 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to food and beverage industry, pharmaceutical and healthcare sector, industrial applications, population growth, increased consumption of processed food.The glutamic acid market size is expected to see strong growth in the next few years. It will grow to $17.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
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Key Market Players:
AMINO GmbH, Evonik Industries AG, Fufeng Group, Hefei TNJ Chemical Industry Co Ltd., Kyowa Hakko Bio Co Ltd.
Market Drivers:
According to the Glutamic Acid Market Report 2024 by The Business Research Company, The rising demand for the food service industry is expected to propel the growth of the glutamic acid market going forward. The food service industry refers to a sector of the economy that involves preparing, distributing and selling food and beverages to consumers outside their homes. Glutamic acid, often in the form of monosodium glutamate (MSG), is widely used to improve taste in processed and convenience foods, meat and seafood products, and international cuisines. As consumers seek diverse, flavorful, and convenient food options, the demand for glutamic acid continues to rise. It's a cost-effective means of enhancing flavor, aligns with consumer preferences, and supports food innovation and product development.
More information about the Global Glutamic Acid Market Report -
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Market segments for Glutamic Acid include:
1) By Product: Biosynthesis, Industrial Synthesis
2) By Source: Plant-Based, Animal Based
3) By Application: Pharmaceutical, Food Additives, Animal and Pet Food, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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