Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Glutamic Acid Market Size, Share & Trends Analysis Report By End-use (Food Industry, Pharmaceutical, Cosmetic & Personal Care, and Others), By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Glutamic Acid Market is forecast to witness market growth of 5.5% CAGR during the forecast period 2023-2030. In the year 2021, the Asia Pacific market's volume surged to 1,605.26 Kilo Tonnes, showcasing a growth of 4.6% during 2019-2022.
The market stands at the intersection of the food and pharmaceutical industries, pivotal in enhancing flavors, nutrition, and various biochemical processes. As a non-essential amino acid, it is a fundamental building block for proteins, but its significance goes beyond basic nutrition. In addition, the versatility of it extends far beyond its role as a fundamental building block for proteins. It has found application in numerous sectors, such as pharmaceuticals, food, and industrial operations. The adoption of the acid is driven by its capacity to elevate sensory experiences, improve product formulations, and contribute to advancements in biochemical and pharmaceutical fields.
Moreover, in industrial settings, this catalyzes biochemical innovation. Its application in producing biochemicals, biofuels, and other industrial compounds demonstrates its versatility beyond food and pharmaceuticals. Biotechnological advancements, including genetically modified microorganisms and fermentation processes, have enhanced the efficiency and sustainability of this acid production for industrial applications. As industries explore more sustainable and eco-friendly practices, adopting glutamic acid as a biochemical precursor aligns with the push towards green technologies. As a key component in fermentation processes, it contributes to developing sustainable bioenergy solutions, offering an alternative to traditional fossil fuels.
South Korean cosmetic companies are known for innovating and using advanced technologies in product development. India has a rapidly growing pharmaceutical industry known for its generic drug manufacturing capabilities. As per the data released in 2023 by the India Brand Equity Foundation, it is expected that the Indian pharmaceuticals sector will attain a value of US$65 billion by 2024 and US$130 billion by 2030. The Indian pharmaceutical industry is estimated to be worth around $50 billion, of which more than $25 billion is derived from exports, according to government data. Therefore, the growing pharmaceutical and cosmetics sectors in the Asia Pacific will drive the demand for the acid in the region.
The Chinese market dominated the Asia Pacific Glutamic Acid Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,731.3 million by 2030. The Japan market is registering a CAGR of 4.8% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.1% during (2023 - 2030).
Key Companies Profiled
- Ajinomoto Co., Inc.
- Evonik Industries AG (RAG-Stiftung)
- Wuhan Amino Acid Bio-Chemical Co., Ltd
- Sichuan Tongsheng Amino acid Co., Ltd
- Medinex
- KYOWA HAKKO BIO CO.,LTD. (Kirin Holdings Company, Limited)
- Hefei TNJ Chemical Industry Co.,Ltd.
- Haihang Industry Co.,Ltd.
- FUFENG GROUP
- AMINO GmbH
Market Report Segmentation
By End-use
- Food Industry
- Pharmaceutical
- Cosmetic & Personal Care
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.2 Key Factors Impacting the Market
3.3 Porter's Five Forces Analysis
Chapter 4. Asia Pacific Glutamic Acid Market, By End-use
4.1 Asia Pacific Food Industry Market, By Country
4.2 Asia Pacific Pharmaceutical Market, By Country
4.3 Asia Pacific Cosmetic & Personal Care Market, By Country
4.4 Asia Pacific Others Market, By Country
Chapter 5. Asia Pacific Glutamic Acid Market, By Country
5.1 China Glutamic Acid Market
5.2 Japan Glutamic Acid Market
5.3 India Glutamic Acid Market
5.4 South Korea Glutamic Acid Market
5.5 Singapore Glutamic Acid Market
5.6 Malaysia Glutamic Acid Market
5.7 Rest of Asia Pacific Glutamic Acid Market
Chapter 6. Company Profiles
- Ajinomoto Co., Inc.
- Evonik Industries AG (RAG-Stiftung)
- Wuhan Amino Acid Bio-Chemical Co., Ltd
- Sichuan Tongsheng Amino acid Co., Ltd
- Medinex
- KYOWA HAKKO BIO CO.,LTD. (Kirin Holdings Company, Limited)
- Hefei TNJ Chemical Industry Co.,Ltd.
- Haihang Industry Co.,Ltd.
- FUFENG GROUP
- AMINO
For more information about this report visit https://www.researchandmarkets.com/r/yj7m0c
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