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Monday, May 24, 2021

Global Sodium Glutamate Market to be Driven by the growing demand for processed food, aided by the growing food service industry in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Sodium Glutamate Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global sodium glutamate market, assessing the market based on its segments like application and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2014-2026)

• Historical Market Size (2020): USD 3.99 billion
• Forecast CAGR (2021-2026): 5%
• Forecast Market Size (2026): USD 5.34 billion

Monosodium glutamate is a food additive that is commonly used in various dishes and packaged food items, such as chips, soups, stock cubes, barbeque sauces, gravies, ketchup, soy sauce, and canned beef, among others, as a taste enhancer. Over the projected era, Asia Pacific is expected to see rapid growth, accounting for a large share of the market. Increased consumption of glutamate salts is being observed in the region, especially in the production of meat and other high protein food products. In Chinese and Japanese cooking, MSG is widely used to prepare a variety of dishes, particularly fast foods. The rising demand for packaged foods across the region and the booming food industry are contributing significantly to consumer growth. Business development is also fueled by the increased development of MSG in countries such as China, Indonesia, and Korea, among others.

Industry Definition and Major Segments

Sodium glutamate, also abbreviated as MSG (monosodium glutamate), is one of the food industry’s most utilised flavour enhancers. That is the sodium salt of glutamic acid in chemical terms. MSG brings a special umami flavour to the taste of food items. It is also known by other names, including Ajinomoto, its trade name.

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The industry can be broadly categorized based on its application into:

• Food Processing
• Restaurants and Institutional Foodservice Providers
• Animal Feed
• Others

The regional markets for Sodium glutamate include:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Market Trends

The sodium glutamate demand has been primarily dominated by the food industry, where it is used as a food additive. MSG is used in different dishes, such as barbeque sauces, salad dressings, sauces, spice mixtures, desserts, stock cubes, gravies, ketchup, soy sauce and canned beef, sodium glutamate is used as a taste enhancer. Sodium glutamate is widely applied, among other items, to Chinese food products, Japanese recipes, and fast snacks. The biggest opportunity for the sodium glutamate industry has been increased demand for Chinese food items combined with the growing demand for fast food snacks. However, in the forecast period, health concerns, problems, and symptoms such as headache, skin rash, nausea, tingling in the mouth among consumers are expected to hinder market growth.

Key Market Players

The major players in the market are Ningxia Eppen Biotech Co., Ltd, COFCO Biochemical, Ajinomoto Co., Inc., Meihua Holdings Group Co., Ltd, Cargill, Incorporated, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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