Monosodium Glutamate (MSG) Price Forecast Report 2024-2025 | Price Trend, Latest Prices, Market Analysis, News, Chart, Demand, Extensive Forecast, Historical and Forecast Data

Monosodium Glutamate (MSG) Price Forecast

Monosodium glutamate prices are forecasted to fluctuate going forward in the year 2024. H1’24 presents borderline buoyancy in the pricing outlook; however, a price correction is predicted in the second half of the year. Currently, the markets are witnessing a decline in feedstock corn prices, thereby affecting the price forecast for MSG. However, as the corn stocks backtrack going forward in the winter seasons, both corn and monosodium glutamate prices will likely incline following Q3’24.

Market Dynamics

Global market dynamics for MSG (Monosodium Glutamate) are greatly dependent on the Asian, particularly Chinese MSG markets. China is the biggest manufacturer, consumer, and exporter of MSG. The production is also relatively better facilitated here because of a cheaper workforce and ample feedstock availability. Asia accounted for about 93% of total MSG production globally in 2023. Mainland China, Indonesia, Vietnam, Thailand, and Taiwan are the major Asian players. MSG prices are currently observing a fluctuating trend in the global markets. A supply excess in the corn industry is driving the upstream manufacturing costs for monosodium glutamate down, thereby exerting downward pressure on MSG prices. However, with the recent corrections in corn prices and MSG consumption, the prices are again looking up in the international markets.

Annual Outlook for Monosodium Glutamate (MSG) Industry

The global pricing outlook for monosodium glutamate looks optimistic for the year 2024. After a lukewarm start to the year, the future projections are relatively more promising. MSG continues to see extensive usage in mainland Chinese, Japanese, Thai, Vietnamese, and Korean food markets. It has emerged as a crucial component of East Asian cuisine. Recent studies of MSG helping in reducing sodium content without hampering food’s flavor, are reestablishing MSG as a potent ingredient. The rise in the third cuisine culture is also helping MSG consumption grow. So, the future outlook still looks promising for monosodium glutamate.

The global leader in MSG manufacturing, Ajinomoto, recently announced its goal to cut its environmental impact by half and enhance the healthy life expectancy of one billion people by 2030. The company uses microorganisms to ferment plant material like corn feed or sugarcane molasses. Annually, this process generates 800,000 tons of leftover materials, 93% in the form of liquids from the fermentation process, to make 700,000 tons of MSG. Ajinomoto is trying to convert these organic production wastes into products like fertilizers that can help reduce the waste burden. Ajinomoto also plans to promote Umami tastes like MSG as enhancers of life expectancy by reducing the food’s sodium content. Overall, the global outlook is optimistic for MSG going forward.

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