April 12, 2024
Global Monosodium Glutamate Market

Monosodium Glutamate Market is Estimated to Witness High Growth Owing to Increased Consumption in Food Industry

The monosodium glutamate market is highly fragmented with presence of various local and international players who are engaged in production and distribution of monosodium glutamate. Monosodium glutamate, also known as MSG, is a flavor enhancer commonly used to boost savory tastes in food products such as soups, sauces, salad dressings, snacks and ready meals. MSG enhances umami taste leading to its increased demand in food processing industry globally.

The Global Monosodium Glutamate Market Demand is estimated to be valued at US$ 6.81 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the monosodium glutamate market are Thermo Fisher Scientific, Merck KGaA, Takara Bio, Agilent Technologies, Oxford Expression Technologies, Promega Corporation, Qiagen N.V., Bio-Rad Laboratories, New England Biolabs, Genscript Biotech Corporation, Syngene International Limited, Sartorius AG, Aragen Bioscience, Vivopure, Creative Biogene, Absolute Antibody, Rockland Immunochemicals, Protein Technologies Inc., Proteogenix, Virovek. The key players are focusing on strategic collaborations and new product launches to enhance their market share.

The key opportunities in the monosodium glutamate market include increasing demand for processed food globally and growing demand for MSG from food services industry. The manufacturers are looking at opportunities in developing economies of Asia Pacific and South America owing to rising disposable income.

The rising global food trade has led to expansion of monosodium glutamate market globally. The major manufacturers are expanding their production facilities and distribution networks across various regions to tap overseas demand for MSG products.

Market drivers

Increased consumption of packaged and ready-to-eat food products is a major driver for monosodium glutamate market. The busy lifestyle has led to preference for convenience foods which prominently uses MSG to enhance flavor. According to industry estimates, the food processing industry accounts for over 75% demand for monosodium glutamate globally.

PEST Analysis

Political: The food and beverage industry is highly regulated. Regulations pertaining to the use of monosodium glutamate as a food additive vary across countries and regions worldwide.

Economic: Growing disposable incomes and rising demand for convenience foods in developing nations are boosting demand for monosodium glutamate. However, inflationary pressures on raw material prices may pose challenges for manufacturers.

Social: Some communities discourage or limit the consumption of monosodium glutamate due to perceived health risks, despite scientific consensus on its safety. Changing consumption patterns and trends also influence demand.

Technological: Advancements in food production and processing technologies enable better textures, flavors and longer shelf lives. Applications of MSG extend to pet foods, animal feeds, pharmaceuticals and other industrial uses as well.

Geographical regions where market is concentrated in terms of value:

The Asia Pacific region currently dominates the monosodium glutamate market in terms of value, led by heavy usage and production in China. Other Asian countries with sizeable markets include Indonesia, Japan, India and Thailand owing to their large population bases and growth in food processing. North America and Europe are other major markets, though per capita consumption is lower than Asia.

Fastest growing region:

Latin America is poised to be the fastest growing regional market for monosodium glutamate during the forecast period. This can be attributed to rising incomes, westernization of diets, expansion of the quick service restaurant industry and growth in processed food consumption in developing country markets such as Brazil, Mexico and Argentina. The growing middle class population presents significant opportunities for MSG demand growth in Latin America.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it