Monosodium Glutamate (MSG) Market: Introduction
Transparency Market Research delivers key insights on the global monosodium glutamate (MSG) market. In terms of revenue, the global monosodium glutamate (MSG) market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global monosodium glutamate (MSG) market.
Lack of awareness about product usage and availability of cost-effective alternatives are likely to hamper the global monosodium glutamate (MSG) market during the forecast period. On the other hand, rise in the demand for food additives is anticipated to drive the global monosodium glutamate (MSG) market over the next decade, as monosodium glutamate is utilized to enhance the taste of food. This has fueled the demand for monosodium glutamate in the food additives segment.
Monosodium Glutamate (MSG) Market: Dynamics
The food industry plays a major role in the economic growth of a country. The global food industry has expanded significantly over the last decade. The rise in the demand for food additives for taste and flavor enhancement in developed as well as developing countries is a key driver of the global food industry.
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Rise in urbanization, disposable income of consumers, and increase in preference of diverse culinary styles have also contributed to the increase in the demand for food additives. This is expected to fuel the food industry during the forecast period.
The rise in demand for food additives in the food industry in emerging economies, such as China, India, Russia, Brazil, and South Africa is expected to augment the global food industry in the near future.
Monosodium glutamate is the key ingredient utilized in food additives. It has the ability to enhance flavor, and provide meaty and savory taste to food. Therefore, it is commonly added to Chinese food, canned vegetables, soups, and processed meats. The Food and Drug administration (FDA) has classified monosodium glutamate as food ingredient that is generally recognized as safe.
Food additives are extensively employed in the food industry. Monosodium glutamate is used to enhance the taste of the food. This has fueled the demand for monosodium glutamate in the food additives segment.
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Monosodium glutamate is a majorly used as a food additive. Therefore, a rise in the demand for food additives in the food industry is expected to significantly propel the global monosodium glutamate (MSG) market during the forecast period.
Monosodium Glutamate (MSG) Market: Prominent Regions
Asia Pacific dominates the global monosodium glutamate (MSG) market. The food processing industry in the region is estimated to expand at a rapid pace between 2021 and 2031. This, in turn, is expected to boost the demand of monosodium glutamate in Asia Pacific, as monosodium glutamate is widely used in the food processing industry in the region.
China is anticipated to be a highly attractive country of the monosodium glutamate (MSG) market in Asia Pacific during the forecast period. The food processing industry in China is expanding significantly, owing to the rapid rise in urbanization coupled with an increase in disposable income. This has led to a rise in the demand for monosodium glutamate.
North America is likely to be another highly attractive region for monosodium glutamate during the forecast period. The U.S. held a major share of the global monosodium glutamate (MSG) market in North America in 2020.
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Monosodium Glutamate (MSG) Market: Key Players
Major players operating in the global monosodium glutamate (MSG) market are Ajinomoto Co., Inc., COFCO, Ningxia Eppen Biotech Co., Ltd, Cargill, Incorporated, Fufeng Group Company Limited, MEIHUA HOLDINGS GROUP CO., LTD., Vedan International (Holdings) Limited, Shandong Qilu Biotechnology Group Co., Ltd., and Mitsubishi Corporation Life Sciences Limited.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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