Fairfield Market Research Glutamic Acid Market Size Poised to Hit US$16.1 Bn by 2030
Glutamic Acid Market

Glutamic Acid Market

Global Glutamic Acid Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Product Coverage, By Application Coverage, By Geographic Coverage and Leading Companies)

Published Date: Oct 2023 | Format: | No. of Pages: 189

Industry: Chemicals & Materials | Author Name: Harshad

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FAQ : Glutamic Acid Market

The global market for glutamic acid has recorded revenue worth around US$10.6 Bn as of 2022 and is expected to reach in excess of US$16 Bn by 2030-end. During the years of forecast, the market size will possibly see 6.2% expansion.

The primary factor projected to drive the revenue growth of the glutamic acid market growth is the ballooning expansion of food and pharmaceutical industries. Growing demand for processed foods, particularly in the Asia Pacific region, where it is widely used as a flavour enhancer, will also be an important growth driver for the market. Rapid developments in biotechnology industries, and growing use in drug development are further expected to drive the market revenue growth.

The biosynthesis product segments registered the largest revenue share of the market in 2022, whereas food additives represent the leading application category. By region, North America’s dominance will prevail through the end of 2030.

The global glutamic acid market is subject to stringent regulatory measures and quality standards, as it is widely used in the food and pharmaceutical industries. For instance, the US FDA, and the likes in other countries have set limits on the use of glutamic acid as a food additive to ensure the safety and quality of end products.

Some of the biggest company names in this industry include Evonik Industries AG, Ajinomoto Co., Inc., Vedan International (Holdings) Limited, Shandong Qilu Biotechnology Group Co., Ltd., Daesang Corporation, Royal DSM N.V., Wuhan Grand Hoyo Co., Ltd., and Shijiazhuang Donghua Jinlong Chemical Co., Ltd.
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