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Monosodium Glutamate Market Report 2024-2033 | Size, Growth, Demand, Trends
Monosodium Glutamate Market Report
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According to The Business Research Company's, The monosodium glutamate market size has grown strongly in recent years. It will grow from $5.27 billion in 2023 to $5.59 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to rising demand for ready -to-eat and processed food, growing among consumers, increasing population and urbanization, growth of the foodservice industry, and growing preference for umami taste.
The monosodium glutamate market size is expected to see strong growth in the next few years. It will grow to $7.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing due to the widespread usage of msg in processed food manufacturing, increasing demand for processed and convenience foods, increasing demand for msg in food and beverage applications, rising disposable incomes in developing countries, and increase the demand for bakery and confectionery items. Major trends in the forecast period include development of novel methods, manufacturers expanding into new markets, shift from extraction to fermentation process, product innovations, and consumer preference for clean label products.
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Market Drivers and Trends:
The rise in the popularity of processed food is expected to propel the growth of the monosodium glutamate market going forward. Processed food refers to any food item altered from its natural state through various methods such as cooking, curing, smoking, fermenting, or adding ingredients for preservation or flavor enhancement. The rising popularity of processed food is due to busy lifestyles, convenience, and changing food habits and preferences. Monosodium glutamate (MSG) is commonly used in processed foods for its flavor-enhancing properties, particularly its ability to enhance savory umami taste. It is valued in the food industry for its ability to enhance flavor and improve the palatability of processed foods, making them more enjoyable to consumers. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, the total value of US processed food products exported from the country increased to $36.59 billion in 2023, an increase of 1.7% compared to previous years. Therefore, the increasing ready-to-eat and processed food drives the monosodium glutamate market.
Major companies operating in the monosodium glutamate market are focused on developing novel methods for the mass production of recombinant proteins. The novel method can potentially revolutionize mass production across diverse valuable proteins, encompassing milk and egg proteins, supplements for baby food, nutraceuticals, and therapeutic molecules. For instance, in May 2024, the Indian Institute of Science (IISc) researchers developed a novel method for mass production of recombinant proteins. Researchers have developed a safer alternative process using the typical monosodium glutamate (MSG) food additive. This novel expression system can be widely adopted in biotech industries to mass produce various valuable proteins, including therapeutic molecules, nutraceuticals, and baby food supplements.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
COFCO Group, Kerry Group, Ajinomoto Co. Inc., Foodchem International Corporation, McCormick & Company, Fufeng Group, Meihua Holdings Group, Tate & Lyle plc, B&G Foods Inc., Vedan International (Holdings) Limited, Triangulum chemicals private limited, Global Bio-Chem Technology Group Company Limited, Gremount International Company Limited, Fooding Group Limited(Fooding), Sunshine Chemicals Company, Great American Spice Company, RM chemicals, Puramate, Linghua Group Limited, Sunrise Chemicals
Monosodium Glutamate Market 2024 Key Insights:
• The monosodium glutamate market size is expected to see strong growth in the next few years. It will grow to $7.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Impact Of Processed Food Trends On The Monosodium Glutamate Market
• Monosodium Glutamate Enables Safer Mass Production of Recombinant Proteins
• North America was the largest region in the monosodium glutamate market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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