Monosodium Glutamate Market Summary
As per Market Research Future Analysis, the Global Monosodium Glutamate Market was valued at USD 6.81 billion in 2023 and is projected to reach USD 9.99 billion by 2032, growing at a CAGR of 4.28% from 2024 to 2032. The market is driven by increased demand for ready-to-eat food products and the expansion of food industries, particularly in the Asia-Pacific and Middle East regions. The food processing sector is the largest end-user, accounting for approximately 60% of the market revenue. The COVID-19 pandemic impacted the food and beverage industry, but the demand for MSG has rebounded due to the rise in processed food consumption.
Key Market Trends & Highlights
Key trends influencing the Monosodium Glutamate market include:
- The additives segment accounted for 58% of market revenue (USD 3.8 billion) in 2022.
- The food processing category generated about 60% (USD 3.9 billion) of the market revenue in 2022.
- North America is expected to dominate the market due to rising consumption of ready-to-eat food.
- The Asia-Pacific region, led by China, is witnessing significant growth in MSG consumption.
Market Size & Forecast
2023 Market Size | USD 6.81 billion |
2024 Market Size | USD 7.14 billion |
2032 Market Size | USD 9.99 billion |
CAGR (2024-2032) | 4.28% |
Major Players
Fufeng Group (China), AJINOMOTO Co.Inc. (Japan), Vedan International (Holdings) Limited (Hong Kong), Ningxia Eppen Biotech Co. (China), KYOWA HAKKO BIO CO.LTD. (Japan), Shandong Linghua MSG Co., Ltd (China), Shandong Qilu Biotechnology Group (China), Shandong Shenghua Group (China), Jianyang Wuyi MSG Co. Ltd. (China)