Monosodium Glutamate Market Overview -
Monosodium Glutamate is expected to witness a significant growth of USD ~6,200 million by 2022 with CAGR of ~4.9% between 2021 and 2030. Monosodium glutamate or MSG is an amino acid that is naturally occurring in various foods. Its use as flavor enhancers and food additives has gained immense recognition over the years.
Various factors are adding to the global monosodium glutamate market share. These factors, as per the new MRFR report, include extensive applications including preservatives, acidity regulators, flavor enhancers, additives, and others, growing demand in the food industry, rapidly growing animal feed industry, preference for fast food processed food due to hectic lifestyle, and increasing use in different medical applications. On the contrary, health concerns related to monosodium glutamate consumption such as nausea, chest pain, sweating, headache, and skin rash, coupled with its regulation by regional Food Drug Administration (FDA) authorities, are factors that may limit the monosodium glutamate market growth over the forecast period.
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Monosodium Glutamate Market - Eminent Firms:
Shandong Linghua MSG Co., Ltd (China), Ningxia Eppen Biotech Co.(China), Shandong Qilu Biotechnology Group (China), KYOWA HAKKO BIO CO.LTD. (Japan), and many others.
Besides, it is also used in bakery and dairy products globally. In addition, monosodium glutamate is widely used in instant noodles, seasonal blends, cheeses, meat and milk products, and sauces. Apart from the food industry, MSG is also used in pharmaceutical/medical applications. These include hypertension neuroregulators and parenteral nutrition for congenital metabolic disease. It is also used in negligible amounts in animal feeds. The augmented investment in the construction sectors is rising due to urbanization plans and policies instituted by government bodies, and this is estimated to promote the Monosodium Glutamate Market companies in the coming period. The reduced weight requirement in structural applications is estimated further to spur the Monosodium Glutamate Market in the impending period.
Globally, the market for Monosodium Glutamate Market is driven by the region North America, owing to implementation of stringent rules and regulations in alcoholic beverages, cosmetics and pharmaceutical industries, among others. Monosodium Glutamate Market is extensively used as an alternative fuel in transportation sector due to its enhanced efficiency and optimal performance offered by the product. Moreover, the emission of greenhouse gases are reduced immensely due to adoption of biofuel in vehicles and engines. A surge in demand are prompting the manufacturers and investors to shift their focus from fossil fuels to bio products in the major industries.
Growing consumption of Monosodium Glutamate Market in various applications is the important reason behind their growth in the market. Moreover, end-use industries such as pharmaceutical, and cosmetics provide impetus to the Monosodium Glutamate Market market growth.
On the flipside, fluctuating raw material prices are considered to restrict the market growth in the coming years. Strict government mandates restricting the use of sulfuric acid is likely to hinder the market growth. Moreover, ill effects of sulfuric acid on human health like irritation in the eyes and skin and skin sensitiveness are expected to vitiate the market growth in the coming years.
The availability of various substitutes such as iron ore, hematite, and celestite are expected to hinder market growth due to their reduced prices and the fact that some of these can be synthetically produced. However, barite is still the most preferred material in oil gas applications which is expected to encourage market growth. Moreover, its applications in the absorption of x-rays and gamma rays make it useful in the medical sector as well as to make special containers to store radioactive materials which are likely to encourage market expansion.
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Segment Study of Monosodium Glutamate Market-
The Market Research Future Report provides an inclusive segmental analysis of the global monosodium glutamate market based on end use industries and applications.
By application, the monosodium glutamate market is segmented into preservatives, acidity regulators, flavor enhancers, additives, and others. Of these, flavor enhancers and additives will lead the market over the forecast period. This will be followed by acidity regulators and preservatives.
By end use industries, the monosodium glutamate market share is segmented into animal feed, pharmaceutical industry, cosmetic industry, food processing industry, and others. Of these, the cosmetic and food processing industry will dominate the market over the forecast period for its burgeoning demand from China’s growing economies. Besides, the increasing demand of monosodium glutamate from different end use industries is also adding market growth.
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Industry/ Innovation/ Related News:
October 2017 – Akzonobel N.V. (the Netherlands), one of the key manufacturers of coil coating also having presence in U.K and South Africa, has announced extension of coil coatings market in U.K and South Africa by acquiring the BASF’s industrial coatings business for € 475 million. This acquisition is expected to complete by second half of 2016. This proposed acquisition is completed in December 2016 and to produce better innovative products and delivering these products to extended reach by the company.
April 2017 – Kansai Paint Co., Ltd. (Japan) is one of the leading manufacturer of coil coatings, has acquired all shares of European coating manufacturer Helios Group, with the closing of transaction on 31 March. Under the strategic owner Kansai, Helios will represent a strong European center of innovation, know-how and business development, and will further grow its importance in European coating industry. With the acquisition of Helios Group, Kansai Paint accelerates its growth strategy to become one of top three paint producers in the world and extended its market from Asia Pacific to Europe. Over the forecast period, by merging both the RD and manufacturing technologies helps to manufacture and innovate better products in the Europe region.
Monosodium Glutamate Market Market - Regional Analysis
On a geographical note, Asia-Pacific region leads the Soda Monosodium Glutamate Market in terms of both, volume and value, which is expected to proliferate significantly at a higher CAGR by 2022. In the Asia Pacific, China has been a significant revenue generating country owing to growing end-user industry and an increase in the consumption rate of chemicals by manufacturers. Also, substantial expansion scope in the automotive industry in India, South Korea Taiwan, and leather industries in Vietnam may enhance the market growth. Besides, a surge in personal care and cosmetic products demands from the middle-class population may also stimulate the global Soda Monosodium Glutamate Market substantially.
Whereas, North America for second market share in this segment. North America led by the U.S. Soda Monosodium Glutamate Market may also witness gains of market by the end of the forecast period. U.S. market, driven by wood coatings and printing ink applications segment along with increased spending on lifestyle products and growing e-commerce industry may boost regional market growth during the projected period.
Europe is now estimated to witness moderate growth on account of rising demand from the automotive sector. Furthermore, stringent regulations for the storage and usage of this product have led to increased innovation and development in this sector.
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