China Monosodium Glutamate (MSG) Market - Growth, Trends, and Forecast (2020 - 2025)
The China monosodium glutamate (MSG) market is projected to register a CAGR of 4.6%, during the forecast period, 2020-2025.
- Monosodium glutamate (MSG) is a synthetic flavor enhancer that belongs to the class, collectively known as glutamates. Technically, MSG is the sodium salt of glutamic acid. The glutamates are present naturally in protein-rich food, such as, meat, fish, eggs.
- Urbanization and improvement in living standards, along with dietary patterns changes, are expected to positively affect the ongoing development of the food processing industry, including catering and restaurant sectors. This is boosting the flavor enhancer market, including MSG.
Key Market Trends
Growing Demand of Processed Foods in the Country
China being one of those most prominent producers, MSG produced in China is exported to countries, such as India, Thailand, and South Africa. With the growing demand of processed foods in developing countries, such as India, the import demand for MSG has witnessed a rise, as MSG is used as a flavor enhancer in food items, such as soups, canned vegetables, and processed meats. Additionally, with the growing demand for flavor enhancers in the developed regions, countries, like the United States and Russia, are among the prominent importing countries of MSG from China.
Meat Products holds Prominent Market Share
Innovation within the chilled meat categories has increased over the years, and China has the highest market share in this category in the Asia-Pacific region. Asia-Pacific was the second most active region, globally, in terms of chilled and frozen processed meat categories. The major companies are promoting the health benefits of animal proteins in countries, like India, to increase the growth of the market. The rising demand for organic livestock is an opportunity for vendors to increase their market share. Moreover, new product development accounts for significant share of the total processed meat product innovations, led by China, Thailand, South Korea, Vietnam, and Philippines.
The China monosodium glutamate (MSG) market is fragmented and competitive. The key companies in the China MSG market are players, such as Shandong Qilu Bio-Technology Group Co. Ltd, COFCO, Meihua Holdings Group Co. Ltd, which are expanding into the untapped potential markets in countries, such as the United States, Russia, Netherlands, by catering to the growing customer demand. These players, along with the other prominent companies, are adopting expansion and investment strategies to strengthen and increase their consumer base. The major strategies adopted by the companies in the China MSG market are expansions, acquisitions, and partnerships.
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