The Global Monoammonium Glycyrrhizinate Market is poised for significant growth, with an estimated value of US$ 72.99 million in 2023. Projections indicate a substantial surge, reaching US$ 121.69 million by 2030, driven by a commendable Compound Annual Growth Rate (CAGR) of 7.39% during the forecast period from 2024 to 2030.
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Regional Analysis:
North American Market:
- Current Valuation: The North American market for Monoammonium Glycyrrhizinate is valued at $2.83 million in 2023.
- Future Projections: Anticipated to grow significantly, reaching $4.56 million by 2030.
- CAGR: This growth is expected at a CAGR of 6.56% during the forecast period from 2024 to 2030.
China Market:
- Current Valuation: The Chinese market for Monoammonium Glycyrrhizinate is robust, standing at $53.99 million in 2023.
- Future Projections: Estimated to soar to $94.05 million by 2030.
- CAGR: Reflecting a remarkable CAGR of 8.13% during the forecast period from 2024 to 2030.
Monoammonium glycyrrhizinate is a salt derived from glycyrrhizic acid, which is a natural compound found in licorice root (Glycyrrhiza glabra). It is commonly used as a sweetener and flavoring agent, as well as in traditional medicine and cosmetic products due to its various biological activities. Some key facts about monoammonium glycyrrhizinate include:
- Chemical structure: Monoammonium glycyrrhizinate has a molecular formula of C42H65NO16 and a molecular weight of 823.96 g/mol. It is an ammonium salt of glycyrrhizic acid, which is a triterpenoid saponin.
- Taste: Monoammonium glycyrrhizinate is known for its intense sweetness, which is approximately 50 to 100 times sweeter than sucrose (table sugar). It also has a characteristic licorice-like flavor.
- Applications: It is used in various applications, including:
- Food and beverage industry: As a natural sweetener and flavor enhancer, particularly in confectionery, beverages, and chewing gum.+ Pharmaceutical industry: As a flavoring agent and excipient in medications, and as a potential treatment for ailments such as liver diseases, gastric ulcers, and inflammation.
- Cosmetics industry: As an ingredient in personal care products, such as toothpaste, mouthwash, and skin-lightening creams.
- Safety: Monoammonium glycyrrhizinate is generally recognized as safe (GRAS) by the U.S. Food and Drug Administration (FDA) when used in accordance with good manufacturing practices.
Potential health benefits: Some studies suggest that monoammonium glycyrrhizinate and its related compounds possess various biological activities, including anti-inflammatory, antioxidant, antimicrobial, and hepatoprotective properties. However, more research is needed to fully understand its potential health benefits and appropriate usage.
Market Dynamics:
- Revenue Concentration: In 2023, the top three global vendors collectively accounted for approximately 45.52% of the total revenue in the Monoammonium Glycyrrhizinate market.
This report aims to provide a comprehensive presentation of the global market for Monoammonium Glycyrrhizinate, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Monoammonium Glycyrrhizinate.
The Monoammonium Glycyrrhizinate market size, estimations, and forecasts are provided in terms of output/shipments (MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Monoammonium Glycyrrhizinate market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Monoammonium Glycyrrhizinate manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.
Market Segmentation
By Company
- VITAL-CHEM Zhuhai
- Sabinsa
- Alchem International
- Shaanxi Fujie Pharmaceutical
- MAFCO Worldwide
- Alps Pharmaceutical
- BGG World
- Qingdao Taitong Pharmaceutical
- Cokey
- Jiangsu Tiansheng Pharmaceutical
- Shaanxi Jintai Biological Engineering
- Qinghai Lake Pharmaceutical
Segment by Type
- Pharmaceutical Grade
- Food Grade
- Other
Segment by Application
- Food Beverages
- Nutraceuticals
- Pharmaceuticals
- Cosmetics
- Other
Production by Region
- North America
- Europe
- China
- Japan
Consumption by Region
- North America
- USA
- Canada
- Asia-Pacific
- China
- Japan
- Korea
- Southeast Asia
- India
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Latin America, Middle East Africa
- Mexico
- Brazil
- Turkey
- GCC Countries
key trends in the Monoammonium Glycyrrhizinate market:
Growing demand from the food and beverage industry: Monoammonium Glycyrrhizinate (MAG) is widely used as a natural sweetener and flavor enhancer in various food and beverage products, such as confectionery, bakery items, beverages, and dairy products. The increasing consumer preference for natural and healthier alternatives to artificial sweeteners is driving the demand for MAG in this industry.
Expansion in dietary supplements and nutraceuticals: MAG is finding applications in dietary supplements and nutraceuticals due to its potential health benefits, such as anti-inflammatory, antioxidant, and anti-viral properties. The growing health consciousness and demand for functional ingredients are fueling the use of MAG in this sector.
Pharmaceutical applications: MAG is being explored for its potential therapeutic applications in the pharmaceutical industry. It has shown promising results in treating certain conditions, such as liver diseases, ulcers, and respiratory disorders. Research and development activities in this area are expected to drive the market growth.
Shifting consumer preferences towards natural products: The increasing consumer preference for natural and plant-based products has led to a surge in demand for MAG, which is derived from licorice root. Consumers are seeking natural alternatives to synthetic chemicals, driving the popularity of MAG in various industries.
Product innovation and new formulations: Manufacturers are continuously developing new formulations and product variants containing MAG to cater to diverse consumer preferences and applications. This includes the development of liquid and powder forms, as well as combinations with other natural ingredients.
Regulatory landscape and quality standards: As MAG is a natural ingredient, its production and use are subject to regulatory guidelines and quality standards. Manufacturers need to comply with these regulations, which may vary across different regions, influencing the market dynamics.
Sustainable sourcing and supply chain management: With the growing demand for MAG, there is an emphasis on sustainable sourcing practices and effective supply chain management to ensure a consistent and reliable supply of high-quality licorice root, the primary source of MAG.
Geographical expansion and emerging markets: While the demand for MAG is currently concentrated in certain regions, such as Asia-Pacific and Europe, there is potential for market expansion in emerging economies as consumer awareness and purchasing power increase.
Research and development efforts: Ongoing research and development efforts are focused on exploring new applications and potential health benefits of MAG, as well as improving extraction and purification processes to enhance product quality and yield.
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