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Monosodium Glutamate Market size was valued at $5,638 million - IndustryARC

Monosodium Glutamate Market

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Monosodium Glutamate market size was valued at $5,638 million in 2020, and is anticipated to grow at a CAGR of 5.81% during the forecast period 2021-2026.

HYDERABAD, TELANGANA, INDIA, September 30, 2022 /EINPresswire.com/ -- Monosodium Glutamate market size was valued at $5,638 million in 2020, and is anticipated to grow at a CAGR of 5.81% during the forecast period 2021-2026. Monosodium glutamate (MSG) is the sodium salt of the common amino acid glutamic acid. Glutamic acid in the sodium glutamate is naturally present in our bodies, and in many foods and food additives. Furthermore, Monosodium Glutamate is an ingredient which is highly used in variety of cuisines and commercially its application are in broths, soups, canned and frozen vegetables, flavoring and spice blends. Monosodium Glutamate application has increased over time and it is found in different ingredients obtainable in every market or grocery store.

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https://www.industryarc.com/Research/Monosodium-Glutamate-Market-Research-509523

Key takeaways:

This IndustryARC report on the Monosodium Glutamate market highlights the following areas -

1. Geographically, Asia-Pacific region held the highest market share of 35.34% in 2020 owing to the growing popularity of fast food chains.

2. The factors such as the increasing consumer awareness regarding the usage of monosodium glutamate in various end use industry coupled with rising demand of processed food products across the globe are amongst the major factor projected to impel growth of Monosodium Glutamate market.

3. Additionally, factors such as companies investing in product innovations to reformulation to incorporate monosodium glutamate in their product portfolio through technological up gradations thereby, creating opportunities paving a way for the growth in the market during forecast period 2021-2026.

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Segmental Analysis:

1. On the basis of applications, additives segment accounted for the largest segmental revenue of the Monosodium Glutamate market in 2020. The large share can be attributed to the fact that monosodium glutamate are currently preferred as it promotes growing demand for convenience foods, increase in the inclination towards taste, and rise in the disposable income of individuals which thus accelerates the growth of the Monosodium Glutamate market.

2. Asia Pacific is the major region dominating the monosodium glutamate market with a market share of 35.34% in the year 2020. This can be attributed increase in the production of monosodium glutamate in countries like China and Indonesia, growing popularity of fast food chains, and increase in the demand for convenience foods have accelerated market growth in the region.

3. In 2020, on the basis of end users, food processing industries segment accounted for the largest segmental revenue of the monosodium glutamate market on account of the factors such as growing demand for processed foods, increase in the inclination towards taste and rise in the disposable income of individuals.

Competitive landscape:

The top 5 players in the Monosodium Glutamate industry are:

1. Cargill Inc
2. Fufeng Group
3. Gremount International Company Limited
4. COFCO
5. Meihua Holdings Group Co Ltd

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