LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global monosodium glutamate (MSG) market report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The global MSG market is likely to grow at a significant growth rate during the forecast period. The market witnessed an increasing demand from APAC both in terms of consumption and production. The growth in the market is propelled by booming demand for fast foods and Chinese food products from several regions such as Oceania, Indian subcontinent, and Southeast Asia.
Competitive vendor landscape
According to the report, the vendors operating in the global MSG market compete based on quality, price, service, and distribution. Corn kernels have the largest share in the MSG cost structure. To survive and succeed in this competitive environment, it is imperative for vendors in the market to distinguish their product offerings through a clear and unique value proposition.
“The increasing vendor competition leads to price reduction that could negatively affect vendor margins and the market growth. The current market includes companies of varying sizes, some being more specialized than others with respect to a production process, while others have larger financial resources,” says Ajay Adhikari, a lead specialty chemicals research analyst from Technavio.
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Top five MSG market vendors
AJINOMOTO
AJINOMOTO offers MSG under the tradename AJI-NO-MOTO to be used as a food ingredient. The company manufactures MSG with the help of amino acids. It is focusing toward abundant supply and sustainable production of amino acids with the help of domestic agricultural raw materials and by recycling resources in bio-cycles. It has amino acid production plants globally such as in Europe, Asia, and the Americas.
COFCO (China National Cereals, Oils and Foodstuffs Corporation)
COFCO offers MSG and feed ingredients for various food industries worldwide. It offers MSG through its biochemical business that also includes cornstarch, sweeteners (fructose syrup, maltodextrin, maltose syrup, and other sweeteners), MSG feed ingredients, and crude corn oil. The company witnessed increased corn processing capacity in 2015 and had eight factories in Heilongjiang, Jilin, Shanghai, Hebei, and Sichuan.
FUFENG GROUP
FUFENG GROUP manufactures amino acid to be used in the manufacturing of MSG. It self-supplies the glutamic acid as raw material for its own MSG production. The company offers MSG under the amino acid segment. The company maintained its leadership position in the MSG business by applying strong production capacity, maintaining competitive pricing, and increasing marketing efforts.
Lotus Health Industry Holding Group Company
Lotus Health Industry Holding Group Company offers MSG under the brand name Lotus Flower. The company is among the first to win ISO9001 Quality System Certification for gourmet powder in China. It has a leading position in the local seasoning market. It has successfully exported MSG to more than 70 countries all over the world. The demand for local MSG is surpassing supply in China.
Meihua Group
Meihua Group offers high-quality amino acid for manufacturing MSG. It manufactures MSG for various industries including medicine, food, feed, cosmetics, and health products. Its MSG is prominently used in gourmet powder and is increasingly finding application in the feed additive industry to enhance the quality of meat, increase the feeding efficiency, promote animal growth, and offer a stable supply of poultry, eggs, and meat products.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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