Glutamic Acid Market Trends Segment Analysis and Future Scope 3

1. Glutamic Acid Market Size, Share, Growth, Development and Demand Forecast to 2030 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The glutamic acid industry contributes $10,496.0 million in 2021, and it is projected to generate $19,443.5 million in 2030, advancing at a rate of 7.1% from 2021 to 2030. Glutamic acid is an amino acid utilized for the production of proteins. The glutamic acid is widely used in the food and beverage industry as an enhancer or additive. Besides this, it is also used in the animal feed, due to high consumption of poultry products such as pork, beef, chicken, geese, and turkeys as well as the growing demand for aquatic products such as shrimp and fish, resulting in industry propulsion. The buyers of glutamic acid seek long-term contracts at a competitive cost to preserve the production capacity. The cost of the product is expected to be impacted by the rising demand in the pharmaceutical industry, as well as functional food producers. Therefore, the bargaining power of the buyer is predicted to stay strong in the near future. Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/glutamic-acid- market/report-sample The raw material suppliers involved in the manufacturing and distribution of operations utilize the extensive distribution network for controlling the prices of raw materials in various locations. Therefore, the power of the supplier is expected to remain moderate in the coming years. The stringent regulations in the production of food and feed formulations, along with environmental damage caused by harmful gas leakage can restrict the entry of new players. Moreover, the high use of acid in end-use applications, specifically in pharmaceutical and functional food, can facilitate new competitors with several opportunities. Therefore, it can reduce the threat of new entrants. Under the application segment, the food and beverage application are the significant revenue contributor to the industry, accounting for 83%. It is led by the wide usage of glutamic acid as a taste enhancer. For instance, monosodium glutamate (MSG) is primarily used for enhancing the flavor of salad dressings, canned vegetables, carbohydrate-based snacks, processed dairy goods, and meat. Browse full report at: https://www.psmarketresearch.com/market- analysis/glutamic-acid-market In addition, the worldwide rising popularity of ready-to-drink beverages, and convenience food is projected to proliferate the industry growth. The increased requirement for such products is expected to improve living standards and 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. economic development in developing countries such as China and India. Along with this, the rising popularity of energy drinks is projected to result into the industry propulsion. Moreover, the pharmaceutical industry is projected to experience significant growth, growing at a rate of over 7.4% in the coming future. The beneficial government policies and rising private investment are expected to increase glutamic acid sales in the future. Furthermore, the usage of acid in pharmaceutical applications is projected to prevent the nerve damage caused during chemotherapy and treats numerous disorders, including epilepsy, muscular dystrophy, neurotransmission imbalances, and cognitive and behavioral difficulties. In addition, this product is utilized as an antiulcer medication, along with this, it is highly effective in gastrointestinal therapy. The acid is further utilized in various supplement formulations, as it supports detoxification, and athletic performance, along with improving cognition, and protein building block formation in the body. Therefore, the high usage of glutamic acid in the pharmaceutical sector is projected to boost industry growth. Glutamic Acid Market Size Breakdown by Segment Based on Application Food & Beverages Pharmaceuticals Animal Feed Geographical Analysis North America • • • • oU.S. oCanada Europe • oU.K. oGermany oFrance oSpain Asia-Pacific • oChina oIndia 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. oJapan oSouth Korea Latin America • oBrazil oMexico Middle East and Africa • oSaudi Arabia oSouth Africa 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 4 ©P&SIntelligence.Allrightsreserved 5 © Prescient & Strategic Intelligence Private Limited. All rights reserved