NEW YORK, Dec. 1, 2023 /PRNewswire/ — The glutamic acid market size is expected to grow by USD 5.08 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 7.99% during the forecast period, according to Technavio. Growing demand for use in sports supplements is notably driving the glutamic acid market. However, factors such as an increase in raw material prices may impede market growth.
Technavio has announced its latest market research report titled Global Glutamic Acid Market 2024-2028
The market is segmented by Source (Plant-based and Animal-based), End-user (Food and beverages, Pharmaceuticals, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the glutamic acid market including Ajinomoto Co. Inc., Amino GmbH, Anhui Keynovo Biotech Co. Ltd., Evonik Industries AG, Fufeng Group Ltd., Global Bio chem Technology Group Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Iris Biotech GmbH, Kyowa Hakko Bio Co. Ltd., Lanxess AG, Medinex Group, Ningxia Eppen Biotech Co. Ltd., Otto Chemie Pvt. Ltd., Sekisui Medical Co. Ltd., ShanDong look chemical Co. Ltd., Sichuan Tongsheng Amino acid Co. Ltd, Suzhou Yuanfang Chemical Co. Ltd., Tocris Bioscience, Tokyo Chemical Industry Co. Ltd., and Wuhan Amino Acid Bio Chemical Co. Ltd..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
Glutamic Acid Market 2024-2028: Company Analysis
Kyowa Hakko Bio Co. Ltd.: The company offers glutamic acid such as L-glutamine, which is available in white crystal or crystalline powder with an odorless and characteristic taste.
This report provides a full list of key companies, their strategies, and latest developments. Buy Now for detailed company information.
Glutamic Acid Market 2024-2028: Segmentation
Source
The plant-based segment is significant during the forecast period. Improved living standards and a rise in the number of middle-class families with high disposable incomes are all factors that result in an increase in consumer spending on non-allergic plant-based glutamic acid products for infants. Furthermore, the rice protein is deficient in the amino acid lysine. Thus, it needs to be supplemented in rice-based infant formulas.
End-user (Food and beverages, Pharmaceuticals, and Others).
Geography
North America will contribute 32% to the growth of the global market during the forecast period. The increased concern about food safety and growth in the animal feed additive industry are some of the factors driving the regional market growth. Additionally, factors such as the ban on the use of antibiotics in animal feed drive the demand for glutamic acid feed additives.
Europe, South America, and Middle East and Africa.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
Glutamic Acid Market 2024-2028: Key Highlights
Historic Market Size 2018-2022
CAGR of the market during 2024-2028
Detailed information on factors that will assist glutamic acid market growth during the next five years
Estimation of the glutamic acid market size and its contribution to the parent market
Forecasts on upcoming trends and changes in consumer behavior
The growth of the glutamic acid market
Analysis of the competitive landscape and detailed information on companies
Comprehensive details of factors that will impede the growth of glutamic acid market companies
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Glutamic Acid Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.99% |
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Market growth 2024-2028 |
USD 5.08 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
7.17 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 32% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ajinomoto Co. Inc., Amino GmbH, Anhui Keynovo Biotech Co. Ltd., Evonik Industries AG, Fufeng Group Ltd., Global Bio chem Technology Group Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Iris Biotech GmbH, Kyowa Hakko Bio Co. Ltd., Lanxess AG, Medinex Group, Ningxia Eppen Biotech Co. Ltd., Otto Chemie Pvt. Ltd., Sekisui Medical Co. Ltd., ShanDong look chemical Co. Ltd., Sichuan Tongsheng Amino acid Co. Ltd, Suzhou Yuanfang Chemical Co. Ltd., Tocris Bioscience, Tokyo Chemical Industry Co. Ltd., and Wuhan Amino Acid Bio Chemical Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Source
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio