Global Glutamic Acid Market Is Expected to Reach USD 22.55 billion by 2028 : Fior Markets

Newark, NJ, Feb. 11, 2021 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global glutamic acid market is expected to grow from USD 12.37 billion in 2020 and to reach USD 22.55 billion by 2028, growing at a CAGR of 7.8% during the forecast period 2021-2028.

The global glutamic acid market has witnessed significant growth in the recent years. This growth is attributed to the wide usage of glutamic acid to treat epilepsy, mental retardation, ulcers, hypoglycemic coma, and muscular dystrophy, increasing inclination towards the food products derived naturally and increasing health concerns. Other factors propelling the market growth include growing demand for the superior quality of meat products, growing application for processed food, and growing demand for ready-to-eat foods.

An amino acid that is used to form a protein is known as glutamic acid. In the body, glutamic acid turns into glutamate. Glutamate is a chemical that helps nerve cells in the brain to send and receive data from other cells. The glutamic acid may treat intellectual disorders, treat personality and childhood behavioral issues, treat low blood sugar in people with diabetes, help treat epilepsy and muscular dystrophy, and prevent nerve damage in people having chemotherapy. Glutamic acid is involved in ammonia metabolism and serves as a neurotransmitter.

The global glutamic acid market is expected to witness significant growth, owing to the rising health concerns, growing demand for high-quality meat products, shifting trends towards the use of processed food, rising consumer preference towards healthy food, increase in population, high disposable income, and increasing R&D activities by key manufacturers. The factors restraining the market growth include side effects of glutamic acid like fatigue and headache and stroke mentality risks.

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The key players operating in the global glutamic acid market are Kyowa Hakko Bio Co., Ltd., Evonik Industries AG, Suzhou Yuanfang Chemical Co. Ltd., Bachem AG, EPPEN Bioengineering Stock Co., Ltd., Sichuan Tongsheng Amino Acid Co., Ltd., Ningxia, Ajinomoto Co., Inc, Akzo Nobel N.V., Iris Biotech GmbH., and Global Bio-Chem Technology Group Company. To gain a significant market share in the global glutamic acid market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

For instance, in December 2017, Ajinomoto Co. Ltd. introduced a new amino acid website. This new launch offers a communication channel between sales and customer support.
In December 2017, a new global marketing campaign on MetAMINO was arranged by Evonik Industries AG. This campaign helped the company achieve customers’ productivity and reduce operational costs because of its fundamental value as an active methionine source.

Animal Feed segment dominated the market and held the largest share of 37.4% in the year 2020
On the basis of application, the global glutamic acid market is segmented into animal feed, pharmaceutical, food industry, and dairy. Animal Feed segment dominated the market and held the largest share of 37.4% in the year 2020. This growth is attributed to the rising consumer preference towards healthy food products, and improved taste and nutrition, rising application of processed food, increasing meat consumption globally, and increasing demand for high-quality meat. The pharmaceutical segment is anticipated to witness significant growth, owing to the increasing use of glutamic acid in medicinal preparation and increasing government spending. The food industry segment will register significant growth due to the increasing adoption of glutamic acid by feed and food manufacturers and increasing demand for superior quality meat food products for animals.

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Regional Segment of Glutamic Acid Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global glutamic acid market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America held the major share of 37.2% in the year 2020. This growth is attributed to the rising processed food industry in the U.S. and Mexico, rising disposable income, and key manufacturers’ presence. The Asia-Pacific region is anticipated to witness significant growth due to rising health concerns, high product and consumption of liquid milk, government regulations regarding public health and feed additives, and increasing demand for supplementary food products. In the region, China and India hold the major share due to the growing demand for processed food products. The Europe region is projected to register significant growth, due to rising health concerns, and government regulations regarding public health and feed additives.

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About the report:
The global glutamic acid market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors position grid analysis.

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