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According to Technavio’s monosodium glutamate market forecast, the global MSG market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. The expanding application of MSG in animal feedstock will drive the prospects for the global mono sodium glutamate (MSG) market growth until the end of 2021. One of the major factors responsible for the growing preference for MSG food additives in animal feed is to increase the livestock production of cattle, broiler, and swine. In addition, since MSG optimizes feed utilization, increases digestibility of animal feeds, reduces feed-borne pathogens, optimizes feed costs, supports optimal digestive health, and prevents feed toxins, they are increasingly used for animal feedstock. Furthermore, MSG encourages the feeding rates of a particular feed item and increases serum proteins, blood glucose levels, cholesterol, and triacylglycerol levels in animals.
The increasing adoption of MSG in chelating agents will drive the prospects for the global monosodium glutamate market growth for the next four years. Some of the major factors responsible for the growing adoption of MSG as a preliminary material for chelating agents is to make products environmentally safe and green and an alternative to phosphates, nitrilotriacetate (NTA) and ethylenediaminetetraacetate (EDTA), biodegradable, and highly soluble.
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The global MSG market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Also, these vendors are increasingly focusing on distinguishing their product offerings through a clear and unique value proposition to survive and succeed in this competitive environment. Moreover, it has been observed that these vendors are increasingly competing against each other based on factors such as quality, price, service, and distribution. Furthermore, they are also focusing on expansion strategies such as the extension of their product lines and adoption of latest technical standards and continuous quality control assurance of all production processes.
Key vendors in this market are -
Other prominent vendors in the market include Fujian Province Jianyang Wuyi MSG, Linghua, Shandong Qilu Biotechnology, and Vedan International.
The food processing industry accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. The increasing demand for MSG consumption in food processing industries from APAC especially countries such as China, Japan, Indonesia, Taiwan, and India will fuel the market segment’s growth in the coming years. Moreover, the growing trend for foreign collaborations, industrial licenses, and joint ventures to boost the growth of the food processing industry will further drive the demand for MSG consumption.
In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market's growth in the region is the increasing disposable income, rising purchasing power and health consciousness, growing demand for packaged and processed foods, rising population in APAC, and increasing number of food manufacturing vendors.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by geography
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Tags: food additives, food ingredients, additives, safety products, chemicals and materials market share, specialty chemicals market analysis,
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