Global Monosodium Glutamate Market Size, Share And Growth Analysis For 2024-2033

Monosodium Glutamate Market Growth Outlook Through 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, August 29, 2024 /EINPresswire.com/ -- The global monosodium glutamate market is on a growth trajectory, expanding from $5.27 billion in 2023 to $5.59 billion in 2024, marking a compound annual growth rate (CAGR) of 6.1%. This robust growth is driven by increased consumer demand for ready-to-eat and processed foods, a growing population, urbanization, It will grow to $7.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.4% and the expansion of the foodservice industry, alongside a rising preference for umami taste.

Impact of Processed Food Trends on the Monosodium Glutamate Market
The escalating popularity of processed food is a key driver of the monosodium glutamate market. Processed food, which includes items altered from their natural state through various methods such as cooking or adding preservatives and flavor enhancers, is becoming increasingly prevalent due to busy lifestyles and evolving food preferences. MSG is widely used in these foods for its ability to enhance the savory umami taste, making them more appealing. For instance, the total value of US processed food exports increased to $36.59 billion in 2023, reflecting a 1.7% rise compared to previous years. This trend highlights the growing influence of MSG in the food industry.

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Key Players and Market Trends
Major companies in the monosodium glutamate market include COFCO Group, Kerry Group, Ajinomoto Co. Inc., Foodchem International Corporation, McCormick & Company, and others. Notably, Ajinomoto Health and Nutrition North America Inc. acquired More Than Gourmet (MTG) in January 2023. This acquisition aims to enhance its offerings in liquid seasonings, broths, and sauces, leveraging MTG's expertise to cater to the food service and restaurant sectors.

Trends Shaping the Market
Several key trends are expected to shape the monosodium glutamate market in the forecast period. These include the development of novel production methods, expansion into new markets, a shift from extraction to fermentation processes, continuous product innovation, and a growing consumer preference for clean label products. Additionally, the market will benefit from the widespread use of MSG in processed food manufacturing, rising demand for convenience foods, and increasing disposable incomes in developing countries.

Segments:
• By Type: Monosodium Glutamate, Salted Monosodium Glutamate, Special Monosodium Glutamate
• By Form: Powder, Granules
• By Distribution Channel: Business-To-Business (B2B), Business-To-Consumer (B2C)
• By Application: Preservatives, Additives, Acidity Regulators, Flavor Enhancers
• By End-User Industry: Pharmaceutical Industry, Food Processing Industry, Cosmetics Industry, Livestock Industry

Geographical Insights: North America Leading The Market
North America leading the monosodium glutamate market in 2023 and is anticipated to maintain a strong presence. However, Asia-Pacific is expected to be the fastest-growing region in the coming years, driven by increasing demand and market expansion.

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Monosodium Glutamate Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Monosodium Glutamate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on monosodium glutamate market size, monosodium glutamate market drivers and trends, monosodium glutamate market major players, monosodium glutamate competitors' revenues, monosodium glutamate market positioning, and monosodium glutamate market growth across geographies. The monosodium glutamate market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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