by Monosodium glutamate, commonly known as MSG, is a flavor enhancing ingredient added to several food products to enhance their palatability. MSG improves food flavors without altering the natural taste of food products. It is widely used in Chinese, Japanese and Southeast Asian cuisines to enhance umami taste. The growing demand for convenience food and increasing willingness of consumers to try international cuisines has boosted the demand for MSG from the food industry.
The global Monosodium Glutamate market is estimated to be valued at US$ 5.91 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
MSG acts as a flavor enhancer and taste promoter in various foods such as soups, seasoned snacks, and sauces. It enhances the umami flavor in food products without altering their original taste. The growing popularity of international cuisines such as Chinese, Japanese and Thai food amongst consumers globally has fueled the use of MSG. The working population and youth have become more inclined towards convenience foods, thus boosting the consumption of packaged and ready-to-eat foodstuffs that utilize MSG as a key ingredient. The increasing health consciousness has also raised the demand for MSG from low-sodium food variants developed by major food brands.
Segment Analysis
The global monosodium glutamate market is segmented by form into powder, crystals/granules and liquid/paste. Among these, the crystals/granules segment holds the highest share in the market currently. This is because crystals/granules form of MSG is more preferred by food processing companies as it has better flowability and uniformity in physical appearance as compared to powder form. The liquid/paste segment is expected to witness fastest growth during the forecast period.
Key Takeaways
The Global Monosodium Glutamate Market Size is expected to witness high growth during the forecast period of 2023-2030. The market is projected to reach a value of US$ 8.31 billion by 2030 expanding at a CAGR of 4.0% during 2023-2030.
Regional analysis
Asia Pacific currently dominates the global monosodium glutamate market and is expected to continue its dominance during the forecast period. Countries like China, Japan and South Korea are the major consumers of MSG in food applications. rising disposable income levels and growing demand for Chinese and Japanese cuisines in these countries is supporting the growth of the monosodium glutamate market in Asia Pacific.
Key players
Key players operating in the monosodium glutamate market are Ningxia Eppen Biotech Co., Ltd, Fufeng Group, Meihua Holdings Group Co., Ltd, Gremount International Co.,Ltd and Cargill Inc. Ningxia Eppen Biotech Co., Ltd is currently the leading player with largest production capacity of MSG globally. Fufeng Group is another major Chinese player focusing on exports of MSG to various countries.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
