Monosodium Glutamate Market is Expected to be Flourished by Growing Food Industry

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posted on 9 months ago — updated on 2 seconds ago

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MSG is extracted from gluten, found in various food crops. It enhances umami flavors in a variety of food products. Major uses of MSG include Chinese cuisine, Japanese cuisine, soups and broths to enhance meaty and savory flavors.

Monosodium Glutamate Market is Expected to be Flourished by Growing Food Industry

The global Monosodium Glutamate market is estimated to be valued at US$ 5.91 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing Food Industry

As mentioned in the heading, the growing food industry has been a key driver for MSG market. The global processed food industry has grown substantially over the past few years with changing consumption patterns. Growth in the food sector has fueled the demand for flavor enhancers like MSG which is widely used in soups, sauces and various packaged food items to add savory tastes.

Increasing Health Consciousness

Another factor propelling the MSG market is increasing health consciousness among consumers. MSG helps to reduces salt content in food while maintaining taste. It can replace salt and reduce sodium intake which is beneficial for health conscious consumers. Thus, health trends are complementing the growth of MSG market.

Segment Analysis
The monosodium glutamate market can be segmented based on type as food grade monosodium glutamate and pharmaceutical grade monosodium glutamate. Food grade monosodium glutamate dominates the market and accounts for around 95% of the overall market share. This is because MSG is primarily used as a flavor enhancer in foods such as soups, sauces, snacks, and other convenience foods and food grade MSG finds extensive applications in these food products.

PEST Analysis
Political: There are no significant political risks impacting the MSG market currently. Most countries allow the usage of MSG as a food additive within specified limits.
Economic: The rising disposable incomes and growing demand for convenience and processed food products is fueling the growth of the global MSG market. Strong economic growth in Asia Pacific is also supporting market expansion.
Social: While MSG was linked with various health issues in the past, recent scientific studies have found it safe for consumption for majority of population. However, a small percentage of people may experience headaches upon MSG consumption.
Technological: There have no been major technological developments in the manufacturing of MSG. However, innovations in food processing and advanced packaging have boosted the applications of MSG as a flavour enhancer.

Key Takeaways
The Global Monosodium Glutamate Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing demand for Chinese cuisine, snacks and packaged food worldwide. The Asia Pacific market holds the major share currently and is expected to maintain its dominance owing to largeconsumers such as China, Japan and India. Key players operating in the monosodium glutamate market are Ningxia Eppen Biotech Co., Ltd, Fufeng Group, Meihua Holdings Group Co., Ltd, Gremount International Co.,Ltd and Cargill Inc.

Regional analysis
The Asia Pacific region accounts for over 60% of MSG market share currently led by China, where majority of world's MSG is produced as well as consumed. Other major markets in Asia Pacific include Japan and India. China accounts for around 40% of global MSG demand due to huge domestic consumption and increasing popularity of Chinese cuisine worldwide.

Key players
Key players operating in the monosodium glutamate market are Ningxia Eppen Biotech Co., Ltd, Fufeng Group, Meihua Holdings Group Co., Ltd, Gremount International Co.,Ltd and Cargill Inc. Ningxia Eppen Biotech Co., Ltd is the largest producer of MSG globally.