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South Korea Monosodium Glutamate Market Share, Size, Growth, Analysis, Trends, Forecast: By Source: Sugar Cane or Molasses, Tomatoes, Cheese, Others; By Application: Additives, Preservatives, Flavor Enhancers, Acidity Regulators, Others; By End-Use: Food Processing, Medical or Pharmaceutical, Others; Competitive Landscape; 2023-2028

South Korea Monosodium Glutamate Market Outlook

The South Korea monosodium glutamate market is expected to grow at a CAGR of 5.1% between 2023 and 2028. The changing perception of consumers is boosting its demand, especially in the food processing and cosmetics industry. The growing demand for processed meats is also driving its demand in the market.

 

Key Trends in the South Korea Monosodium Glutamate Market

Glutamate is created when maize, bacteria, or sugarcane are broken down and converted into smaller bits. Fish, meats, nuts, tomatoes, mushrooms, seaweed, and the majority of dairy products all contain glutamate, a naturally occurring amino acid that is also present in the human body. The outcome is a white crystal, which is subsequently combined with salt to produce monosodium glutamate or MSG. 

 

Wide Usage of Monosodium Glutamate as a Flavour Enhancer is Boosting its Demand in the Country

In order to make items like cheeses, sauces, meat and dairy products, and baked goods, monosodium glutamate is utilised as a flavour enhancer and in food additives, which is bending the market success curve exponentially. These factors, together with the fact that monosodium glutamate is used to make milk products last longer on the shelf, are what causing the monosodium glutamate market to grow. Monosodium glutamate is highly demanded by food service industries, food processors, and the retail sector for the manufacture and production of packaged meals, instant functional foods, and soups, which is fueling market expansion over the anticipated period.

 

The Ongoing Research is Improving the Image of Monosodium Glutamate in the Food Industry, which is Bolstering its Market in South Korea

MSG is becoming increasingly popular with the general population owing to the ongoing work of academics and scientists over the past few years. About two decades ago, numerous businesses began promoting the lack of MSG in their products in an effort to project an image of being chemical-free and gain market dominance. This grew the notion that MSG was dangerous. There have been several reports of MSG-related obesity, headaches, or indigestion. MSG is a safe food ingredient, according to the local Food Safety Ministry, which doesn't even include a daily intake recommendation. There are daily intake recommendations for salt and sugar, which are frequently used in cooking.

 

The High Demand for Processed and Ready-to-Eat Food Items is Leading to the Expansion of the Monosodium Glutamate Industry in South Korea

Due to MSG's extensive use in the production of processed foods, monosodium glutamate volume has skyrocketed. Another significant reason driving both production and demand of MSG is a rise in the consumption of prepared foods and other processed meals. These days, the "Ready-to-eat" and "Ready-to-cook" food industries are open to many huge corporations and new-age producers since customers are time-constrained and want to buy simple, fast and easily available items. In order to generate such pre-cooked ready-to-eat meals and associated possibilities in the Market, key companies have started to enter further into potential prospects of the food industry. They are doing this by fostering innovation, adapting to quality measures, and boosting usability.

 

Market Analysis

Based on Source, the South Korea monosodium glutamate market is segmented into sugarcane or molasses, tomatoes, and cheese, among others. On the basis of application, the monosodium glutamate market of South Korea is bifurcated into additives, preservatives, flavour enhancers, and acidity regulators, among others. Based on end-use, the South Korea monosodium glutamate market is divided into food processing, medical or pharmaceutical, livestock, and cosmetic among others.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea monosodium glutamate market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • Ajinomoto Co., Inc
  • CJ CheilJedang Corp
  • Daesang Corporation
  • COFCO International
  • Others

 

Market Share by Source

Based on sources, cheese, tomatoes, sugarcane, or molasses, among others, are all the sources from which MSG is extracted. With increased consumer awareness that monosodium glutamate is not harmful to health, its market has been greatly impacted positively, and to meet the rising demand, all segments are expected to secure a considerable share of the market. The continuous research and development work by researchers and academicians in the field is greatly helping in improving the image and breaking myths regarding monosodium glutamate among the general public.

 

Market Share by Application

Over the course of the projection period, it is anticipated that the country's rising meat consumption will raise demand for monosodium glutamate, a substance used in animal feed. Additionally, it is anticipated that the livestock segment would grow during the projection period due to increased per capita income in the country and a growing preference for frozen meat products, especially among the working population. Moreover, factors like the improved and easy accessibility of ready-to-eat and processed food items have greatly increased the market for preservatives, additives, acidity regulators, and flavour enhancer segments, which ultimately proliferate the monosodium glutamate (MSG) market in South Korea.

 

Market Share by End-Use

In the food processing sector, MSG-containing meals are becoming more and more well-liked because consumers believe they are more savoury and appetising than dishes without MSG. This factor has helped this segment secure a significant share of the market.

 

MSG, often known as monosodium glutamate, is sodium 2-aminopentanedioate. It is essentially the sodium salt of glutamic acid, an amino acid that occurs naturally. The molecular formula for it is C5H8NO4Na. MSG is produced commercially by fermenting a suitable sugar source with the intention of using it as a medicinal excipient. Moreover, MSG is used to treat free glutamic acid that has been released from proteins during the production of many cosmetics and other related goods. MSG has also been used in vaccinations as a stabiliser and preservative to keep vaccines potent over a wide range of temperatures and shelf lives. The demand among these and several other end-users bolsters the market for monosodium glutamate in South Korea.

 

Competitive Landscape

Ajinomoto Co., Inc- Producing meals, bioscience fine chemicals, medicines, and health items are the company's main areas of concentration. It conducts research, develops, and produces sauces and seasonings and offers quick-nourishment items such as Knorr cup soup, coffee beverages, bakery, processed, edible oil, frozen, and amino acid products for food and medicines, among others. Additionally, Ajinomoto offers speciality chemicals, functional materials, and biopharma services. Under the brand names amino VITAL, AJI-NO-MOTO, Birdy, HON-DASHI, Cook Do,  AjiPro, Knorr, Blendy, Masako, and Glyna, the corporation sells its goods. Its goods are used in the restaurant and catering sectors. The corporation has activities in Africa, the USA, Europe, and Asia-Pacific. The headquarters of Ajinomoto is in Tokyo, Japan.

 

COFCO International- Since its founding in 1949, COFCO Corporation (COFCO) has dominated China's agricultural and food sectors. It is also one of the largest agri-product merchants globally, with a fully integrated value chain. Agri-products are the centre of COFCO's primary business, with a particular emphasis on grain, oil, sugar, cotton, meat, and dairy products. Three other important auxiliary industries are food, finance, and real estate.

 

COFCO has RMB 686.0 billion in total assets as of the end of 2021, RMB 664.9 billion in total operating revenue, and RMB 23.8 billion in total profit. On a global scale, COFCO has been proactively developing international markets and enhancing G&O logistics and storage capacity globally to guarantee a reliable international supply chain.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Source
  • Application
  • End-Use
Breakup by Source
  • Sugar Cane or Molasses
  • Tomatoes
  • Cheese
  • Others
Breakup by Application
  • Additives
  • Preservatives
  • Flavor Enhancers
  • Acidity Regulators
  • Others
Breakup by End-Use
  • Food Processing
  • Medical or Pharmaceutical
  • Livestock
  • Cosmetic
  • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ajinomoto Co., Inc.
  • CJ CheilJedang Corp.
  • Daesang Corporation
  • COFCO International
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    South Korea Monosodium Glutamate Market Overview

    8.1    Key Industry Highlights
    8.2    South Korea Monosodium Glutamate Historical Market (2018-2022) 
    8.3    South Korea Monosodium Glutamate Market Forecast (2023-2028)
9    South Korea Monosodium Glutamate Market by Source
    9.1    Sugar Cane or Molasses 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022)
        9.1.3    Forecast Trend (2023-2028)
    9.2    Tomatoes
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022)
        9.2.3    Forecast Trend (2023-2028)
    9.3    Cheese
        9.3.1    Market Share
        9.3.2    Historical Trend (2018-2022)
        9.3.3    Forecast Trend (2023-2028)
    9.4    Others
10    South Korea Monosodium Glutamate Market by Application
    10.1    Additives
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Preservatives
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    Flavor Enhancers
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Acidity Regulators
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    South Korea Monosodium Glutamate Market by End-Use
    11.1    Food Processing
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Medical or Pharmaceutical
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    Livestock
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    Cosmetic
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
    11.5    Others
12    Market Dynamics
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    Key Indicators for Demand
    12.4    Key Indicators for Price
13    Value Chain Analysis
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Company Profiles 
        15.2.1    Ajinomoto Co., Inc.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    CJ CheilJedang Corp.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Daesang Corporation
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    COFCO International
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    South Korea Monosodium Glutamate Market: Key Industry Highlights, 2018 and 2028 
2.    South Korea Monosodium Glutamate Historical Market: Breakup by Source (USD Billion), 2018-2022 
3.    South Korea Monosodium Glutamate Market Forecast: Breakup by Source (USD Billion), 2023-2028
4.    South Korea Monosodium Glutamate Historical Market: Breakup by Application (USD Billion), 2018-2022 
5.    South Korea Monosodium Glutamate Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    South Korea Monosodium Glutamate Historical Market: Breakup by End-Use (USD Billion), 2018-2022 
7.    South Korea Monosodium Glutamate Market Forecast: Breakup by End-Use (USD Billion), 2023-2028
8.    South Korea Monosodium Glutamate Market Structure

Key Questions Answered in the Report

The monosodium glutamate market is projected to grow at a CAGR of 5.1% between 2023 and 2028.

Increasing demand for flavour enhancers in the food processing industry, rising disposable income, increased consumer awareness, continuous research and development by researchers and academicians, and its application in various industries are the major drivers of the market.

The increasing demand for ready-to-eat and processed food and their improved accessibility is the key trend of the South Korea monosodium glutamate market.

The dominant type of monosodium glutamate in the industry are sugarcane or molasses, tomatoes, and cheese, among others.

The major players in the industry are Ajinomoto Co., Inc, CJ CheilJedang Corp, Daesang Corporation, and COFCO International, among others.

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