Pune, India -- (SBWire) -- 05/11/2018 --Monosodium Glutamate Market–Market Overview

According to MRFR analysis, the Global Monosodium Glutamate is projected to witness considerable growth of the market at a CAGR of nearly 4.9% to reach around USD 6,200 million by the end of 2022. Monosodium Glutamate is an amino acid having a chemical formula C5H8NNaO4 - H2O. It is an important taste enhance industrial chemical, which is majorly used in fast foods. MSG itself is tasteless, yet it is a flavor enhancer used to enhance taste of meat, fish, fowl, vegetables, and soup. The growing population around the world and increasing consumer trends towards consumption of outside fast food are primarily driving growth of the market.

Regionally, among the five major region sin the Global MSG Market, Asia Pacific is dominating the market of owing to increasing demand from various applications such as flavor enhancers and additives in China region followed by Japan.

Monosodium Glutamate Market- Competitive Landscape

The Global Monosodium Glutamate is a mature market with considerable number of tier 1 players operating into the market. The market is primarily driven by flourishing apparel, textile and sports equipment industry. The market is greatly concentrated by the presence of number large players yet, Fufeng Group, AJINOMOTO Co.Inc., Vedan International, Ningxia Eppen Biotech Co., are the major manufacturers in this market. Almost all of them are primarily adopting the product launch and expansion tactics to further strengthen their market position and sustain competition.

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Increasing demand from the major end use industries such as textile and steady rise in demand for sports goods and equipment may propel growth of the market. In addition to this the agreements and collaborations between distributers, manufacturers and other firms are the prominent forces operating in this market for the growth of the demand for Monosodium Glutamate. Undertaking all these trends, the Global Monosodium Glutamate Market is more likely to witness considerable competition over the forecast period of 2017-2023.

Industry/ Innovation/ Related News:

December 08, 2016- Ajinomoto, the Japanese food giant, which synonymous to the flavor enhancer popularized and patented by this this firm, is now targeting the middle strata of African society. The company has announced buying a 33% stake in Promasidor, a powdered milk, drinks, and seasoning product seller, with its distributors spread over almost half of the continent. The deal pegged at USD 532 million. This is expected to boost growth of this untapped market.

October 2016- According to Tranalysis, global import-export analysts, the glutamic acid exports from China has experienced considerable growth again, as compared to the year 2015. The export was driven by two major players in China, both of them are dominating the Chinese market. The primary reason for the huge export is the greater export increase of Fufeng Group. These estimates shows that, China is still the major exporter of glutamic acid around the world.

July 31, 2017- A Hong Kong-listed investment holding company, Vedan International Holdings, which engages in the production of food additives for beverage, noodles and monosodium glutamate (MSG) has announced its plans to set up a subsidiary in Cambodia (Latin America) by this year end. The company hopes that its Cambodian subsidiary may serve as a new base for operations to expand into the Thai and Lao markets

March 15, 2016- In ad bid to promote domestic producers, the Ministry of Industry and Trade of Vietnam, is likely to apply a global emergency safeguard action to curb excessive imports of MSG. The new duty will tax the monosodium glutamate at nearly VND 4.4 million, i.e. USD 197 per ton, reported the ministry's Vietnam Competition Authority (VCA) on March 14.

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