by Monosodium glutamate, also known as MSG, is a flavor enhancer commonly used in various foods to enhance its palatability. It is produced commercially through microbial fermentation of starch, sugar, or their derived products. Monosodium glutamate is widely used in snacks, sauces, soups, gravies, salad dressings and various other food products to boost their umami taste. The growing demand for convenience food is a major driver for increased use of monosodium glutamate as a flavor enhancer.
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 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends observed in the monosodium glutamate market is increasing demand for clean label and organic products. Consumers are increasingly preferring food products with simple and recognizable ingredients, without artificial preservatives, colors, flavors, or MSG. In response to this trend, manufacturers are developing novel techniques to produce monosodium glutamate through organic and natural fermentation processes without the use of chemical synthesis. They are also introducing clean label MSG products suitable for vegan and gluten-free diets. This is expected to support the growth of the monosodium glutamate market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established buyers make the threat of new entrants relatively high. However, existing players have established brand value and distribution networks.
Bargaining power of buyers: Buyers have high bargaining power due to the availability of substitutes and undifferentiated products. They can exploit competitive pricing and negotiate with suppliers.
Bargaining power of suppliers: A few large companies dominate the global supply. Suppliers have moderate to high bargaining power due to their established relationships with buyers and procurement constraints faced by buyers.
Threat of new substitutes: Substitutes like seasonings, spices, and yeast extracts pose moderate threat. However, MSG is widely used and has enhanced the umami taste for decades with no proven health risks.
Competitive rivalry: Intense competition exists between global and regional players. Players compete based on pricing, quality, branding and marketing.
Key Takeaways
The Global Monosodium Glutamate Market Size is expected to witness high growth over the forecast period.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its dominance over the forecast period. China is the largest producer and consumer of MSG globally. Other high growth markets include India, Indonesia, and Southeast Asian countries.
Key players operating in the Monosodium Glutamate market are Thermo Fisher Scientific, Merck KGaA, Takara Bio, Agilent Technologies, Oxford Expression Technologies, Promega Corporation, Qiagen N.V., Bio-Rad Laboratories, New England Biolabs, Genscript Biotech Corporation, Syngene International Limited, Sartorius AG, Aragen Bioscience, Vivopure, Creative Biogene, Absolute Antibody, Rockland Immunochemicals, Protein Technologies Inc., Proteogenix. Key players are focused on new product launches, expansions, and mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
