Glutamic Acid Market To Generate Revenue Worth $19,443.5 Million by 2030

The global glutamic acid market size is expected to reach $19,443.5 million by 2030, growing at a CAGR of 7.1% from 2021 to 2030. This can be ascribed to the increasing consumption of this acid in the rapidly growing food and beverage industry across the globe.

Also, it is expected that the rising disposable income, changing societal norms, and expanding self-care awareness would all contribute to an increase in the need for personal care and cosmetic products around the world. In addition to being utilized as a pH regulator in food, drink, and animal feed, glutamic acid is found in personal care products. It is also utilized in the pharmaceutical industry to create a wide range of medications that are used to treat epilepsy and problems with cognition, as well as to prevent nerve damage from chemotherapy.

Moreover, the demand for this acid is expected to be quite high among producers of dietary supplements. This is due to the rising consumer buying power and public awareness of the importance of maintaining a healthy lifestyle and seeking preventative treatment. Further, the use of glutamic acid is predicted to rise in response to the need for supplements among athletes and young people, due to the growing awareness of fitness and maintaining a healthy physique.

Regional Analysis

North America accounted for a significant revenue share in 2021 in the market. This is ascribed to the growing animal feed, additive manufacturing, and food and beverage industries in the region, and the product is widely used as a food enhancer. In addition, the U.S. leads the North American market, as the country is a larger consumer of dietary supplements in the region.

Furthermore, the European glutamic acid market demand is projected to be driven by the sustained economic growth in the region and the surge in the production and consumption of animal feed. Moreover, the demand for personal care and cosmetic items is expected to rise, as a result of increasing self-care awareness, particularly among young people. This has a favorable impact on glutamic acid sales in Europe.

On the other hand, the APAC market is expected to witness the fastest growth, advancing at a CAGR of more than 7.5%, during the forecast period. The demand for glutamic acid is expanding in APAC countries like India, China, Japan, South Korea, and Thailand. Consumption of supplements based on glutamic acid is likely to increase in the region, as a result of the rising consumer awareness of the importance of a healthy lifestyle and the increasing need for dietary supplements.

Additionally, it is expected that the increased government initiatives in India, including programs like the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to increase fish production and export, to double farmers' income, will have a positive impact on the use of glutamic acid in the feed manufacturing industry.

Furthermore, the demand for this acid is expected to increase in the LATAM and MEA regions in the coming years. This can be because the consumption of dairy products rising, which has a favorable effect on the demand for glutamic acid for making animal feed in both regions.

Some of the key players in the glutamic acid market are Ajinomoto Co. Inc., Evonik Industries AG, Akzo Nobel N.V., Sichuan Tongsheng Amino acid Co. Ltd., KYOWA HAKKO BIO Co. Ltd., Otto Chemie Pvt. Ltd., Hefei TNJ Chemical Industry Co. Ltd., and Global Bio-chem Technology Group Company Limited.