Glutamic Acid Market Expected to Reach $16.6 Billion by 2030

According to a new published report by Allied Market Research titled, “Glutamic Acid Market by End-use industry: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The glutamic acid market was valued at $9.8 billion in 2020, and is projected to reach $16.6 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.

Glutamic acid is one of the most important amino acid used for the synthesis of proteins. It is also called as protein genic amino acid and is an abundant source of amino acid present in almost every organism. Glutamic acid is found in highest concentration in blood musculature, spinal fluid, cerebral and plasma. It is most commonly found in all protein rich food including meats, soy proteins, eggs, and cereals, among others. Glutamic acid is necessary to produce energy in the body and for the functioning of immune system, nervous system, and digestive systems. It aids muscular growth, which is why it's commonly included in supplements used by sportsmen and bodybuilders. Glutamic acid also helps with detoxifying and controls acid balance.

Owing to increasing usage in the packaged food and animal feed industries, glutamic acid demand is expected to grow substantially. In addition, a trend toward the usage of processed food is expected to drive demand growth for glutamic acid market. The growth of the market is also fueled by rising consumer awareness about food additives and the use of healthy food products. Glutamic acid is also important for the normal functioning of human cells and the body's nitrogen removal. It is in high demand as it's commonly used to treat epilepsy, ulcers, mental retardation, muscular dystrophy, and hypoglycemia coma. Furthermore, the growth in the pharmaceutical industry is also expected to boost the demand for glutamic acid. However, glutamic acid's side effects, such as headache and nausea, are restricting the glutamic acid market growth.  High glutamic acid consumption is linked to a higher risk of stroke mortality, which will further hinder market growth. Innovations in the food sector, as well as suppliers that are actively monitoring evolving customer food preferences are expected to provide new opportunity for the glutamic acid market.

The glutamic acid market is segmented on the basis of end-use industry and region. By end-use industry, it is segmented into pharmaceutical, cosmetic, food and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The glutamic acid market share is analyzed across all significant regions and countries.

This report gives an in-depth profile of some key glutamic acid market players in the glutamic acid market, which include AMINO GmbH, Ajinomoto Co., Inc., Evonik industries, Fufeng group, Haihang Industry, KYOWA HAKKO BIO CO. LTD., Medinex, Sichuan Tongsheng Amino acid Co., Ltd, and Wuhan Amino Acid Bio-Chemical Co., Ltd.

Other players operating in the glutamic acid market are Avenit AG, Suzhou Yuanfang Chemical Co. Ltd., Luojiang Chenming Biological Products Co., Ajinomoto Health & Nutrition North America, Inc., IRIS BIOTECH GMBH, Global Bio-chem Technology Group Company Limited, and Akzo Nobel N.V.

Key Findings Of The Study

• The report outlines the current glutamic acid market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The Glutamic acid market size is provided in terms of volume and revenue.
• On the basis of end-use industry, food & beverage segment garnered 65.4 % share in 2020 in terms of revenue.
• Pharmaceutical industry is projected to be fastest growing end-use industry growing at a CAGR of 5.8% in terms of revenue during the forecast period.
• On the basis of region, Asia-Pacific garnered a share of 38.2% in 2020 in terms of revenue and is projected as the fastest growing market for glutamic acid, at CAGR of 5.9%.

Impact Of Covid-19 On The Global Glutamic Acid Market

• The outbreak of COVID-19 in China and its spread across numerous countries around the world halted the manufacturing activities of industrial sectors, which correspondingly hampered glutamic acid manufacturing as well.
• The raw material procurement was also challenged owing to outbreak of COVID-19.
• The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, inventory, sales, business and manufacturing operations, and others.
• As per the companies operating in the market, there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause.
• Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.
• The food industry witness increased sales and profit. The consumers were increasing inventories as much as possible in March 2020 i.e., the initial phase of pandemic. This increased demand for Glutamic acids from food industry.
• The COVID-19 pandemic further boosted demand for pharmaceutical drugs for the treatment of various diseases. This resulted in increased demand for glutamic acid from pharmaceutical industry.