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Glutamic Acid Market to increase by USD 5.08 billion between 2023 to 2028, Ajinomoto Co. Inc., Amino GmbH, Anhui Keynovo Biotech Co. Ltd. and more among key companies - Technavio

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.

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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The stearic acid market is projected to grow by USD 553.66 million with a CAGR of 5.57% during the forecast period 2021 to 2026.

The hyaluronic acid market size is estimated to grow at a CAGR of 7.3% between 2022 and 2027. The hyaluronic acid market size is forecast to increase by USD 3,719.76 million.

Glutamic Acid Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.99%

Market growth 2024-2028

USD 5.08 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.17

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

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.

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.

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:

Excustive 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.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

By: PR Newswire Association LLC. - 02 Dec 2023
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