Glutamic Acid Pricing Report

Glutamic Acid Prices December 2023

Glutamic acid prices in China to 2510 USD/MT in Q4 2023, owing to economic development, higher consumer spending, and mounting ocean freight costs along with labor shortages. Regardless of constraints in the domestic manufacturing sector and sluggish retail sales, industry players stacked their inventories to balance supply and demand.

In addition, enterprises suffered financial strain as a result of the Chinese yuan's depreciation against the US dollar, which increased manufacturing costs and raised domestic commodity prices.

Glutamic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Glutamic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of glutamic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing glutamic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Glutamic Acid Market Analysis

The global glutamic acid market size reached US$ 11.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 20.2 Billion, at a projected CAGR of 6.30% during 2023-2032.

• The global glutamic acid market is primarily driven by the burgeoning demand from the thriving food industry, particularly for flavor enhancers like monosodium glutamate (MSG).
• In the ready-to-eat (RTE) market, the number of users is expected to amount to 64.1m users by 2029. This rising popularity of processed foods and RTE meals across the world is acting as another significant growth-inducing factor.
• The widespread adoption of glutamic acid in pharmaceuticals, particularly in the production of drugs for neurological disorders is providing an impetus to the market.
• Furthermore, the expanding animal feed industry, driven by growing meat consumption and the need for high-quality feed additives, is boosting the demand for glutamic acid.
• Another key driver is the growing application of glutamic acid in the production of industrial chemicals and biodegradable polymers, driven by the growing emphasis on sustainability and eco-friendly alternatives. According to UNEP forecasts, the adoption of a new circular plastics economy might result in an 80% decline in plastic pollution by 2040, which could translate into up to 32.5% economic savings and environmental advantages.
• Significant advancements in biotechnological processes for glutamic acid production, including microbial fermentation techniques, thereby enhancing production efficiency are positively impacting the market growth.
• Concurrently, the burgeoning demand for glutamic acid in cosmetics and personal care products, owing to its moisturizing and anti-aging properties, is creating a favorable outlook for market expansion.
• In addition to this, increasing research and development (R&D) activities aimed at exploring novel applications of glutamic acid in various industries, such as agriculture and textiles, are bolstering the demand and sales of glutamic acid.
• Furthermore, the growing prevalence of chronic diseases globally, coupled with the increasing awareness regarding the health benefits of glutamic acid supplementation, are presenting lucrative opportunities for market expansion. Based on the findings from a survey conducted by the Centers for Disease Control and Prevention in February 2021, Among U.S. citizens aged 20 and over, 57.6% used dietary supplement in the past 30 days
• Apart from this, favorable regulatory policies and initiatives promoting the use of glutamic acid in food, pharmaceutical, and industrial applications are propelling the market forward by fostering a conducive business environment for market players.

Glutamic Acid News

The report covers the latest developments, updates, and trends impacting the global glutamic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in glutamic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the glutamic acid industry:

• In June 2023, Evonik sold its chemical site in Lülsdorf, Germany, along with its cyanuric chloride business in Wesseling, to ICIG, following regulatory approvals. ICIG will retain over 600 employees and all production facilities and plans to expand both sites further.
• In November 2022, Kyowa Hakko Bio, a Kirin Holdings subsidiary, completed a human milk oligosaccharides (HMOs) production facility in Thailand. The company commenced its production in 2022, targeting sales to formula manufacturers by 2023.
• In July 2021, Ajinomoto launched Nou-Katsu Seven Amino, an amino acid supplement targeting cognitive decline in middle-aged and elderly individuals. Ajinomoto aims to tackle cognitive degression and reduce the healthcare burden, with an expected sales target of JPY 300 million for FY 2021.

Product Description

Glutamic acid or monosodium glutamate (MSG) refers to an inessential amino acid that the human body is capable of producing on its own. It is a crucial neurotransmitter in the central nervous system and has an array of physiological effects, including enhancing nerve impulse transmission, which supports memory, learning, and cognitive function.

In addition, this compound acts as a fundamental component in the synthesis of proteins. It can be found in a range of foods high in protein, such as seafood, poultry, eggs, and dairy products, as well as certain plant-based sources like soybeans and seaweed.

Popularly known as umami, glutamic acid is a widely employed taste enhancer in the food sector. It improves the savory taste of meals and is used in an array of processed foods, spices, and restaurant cuisines across the world. Glutamic acid's numerous functions show its importance in both biological processes and culinary uses.

Regional Coverage

The report provides a detailed analysis of the glutamic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends. 

Global Glutamic Acid Price

The report offers a holistic view of the global glutamic acid pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

Europe Glutamic Acid Price

The European market for glutamic acid saw fluctuating prices in Q4 2023 as a result of rising local demand, importation status, bulk orders, and freight expenses. Trade barriers between China and Europe, as well as reduced marine congestion, had an influence on market dynamics. In December, sodium bicarbonate prices fell due to year-end destocking and consistent downstream demand. These considerations emphasize the intricate interaction between domestic and global market forces.

This analysis can be extended to include detailed glutamic acid price information for a comprehensive list of countries.

North America Glutamic Acid Price

In Q4 2023, the North American market for glutamic acid saw price changes due to increased demand from local markets and rising expenses in exporting countries. Trade barriers between China and the US reduced marine congestion, and increased freight costs all contributed to the market's strength. The Panama Canal port bottleneck and missile assaults exacerbated the issue.

Specific data on glutamic acid prices within the United States and Canada can also be provided.

Middle East and Africa Glutamic Acid Price

The report explores the glutamic acid pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on glutamic acid prices for countries can also be provided.

Asia Pacific Glutamic Acid Price

The APAC glutamic acid market encountered challenges in Q4 2023 due to economic expansion, higher consumer expenditure, and labor constraints. The Chinese domestic market had both strengths and weaknesses, including a contraction in manufacturing and a slowdown in retail sales. Despite these hurdles, the market outlook remained favorable as industry participants replenished stockpiles. Moreover, the weakening of the Chinese yuan increased financial pressure, resulting in higher domestic commodity prices.

This analysis can be further extended to include detailed glutamic acid prices for a comprehensive list of countries within the region.

Latin America Glutamic Acid Price

The analysis of glutamic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of glutamic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting glutamic acid price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the glutamic acid industry.