Guanylic Acid Market Expected to Reach $2.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Guanylic Acid Market," The guanylic acid market was valued at $1.4 billion in 2021, and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

Guanylic acid is a nucleotide used in RNA as a monomer. Guanylic acid is also referred as Guanosine monophosphate (GMP). It is a phosphoric acid ester with the nucleotide guanosine. GMP contains a phosphate group, the pentose sugar ribose, and the nucleobase guanine; hence, it is a ribonucleoside monophosphate. Guanosine monophosphate is commercially generated through microbial fermentation.

Guanosine monophosphate has the reference number E626. In the form of its salts, food additives such as disodium guanylate (E627), dipotassium guanylate (E628), and calcium guanylate (E629) are employed as umami flavor enhancers. It is frequently used in association with disodium inosinate to create disodium 5′-ribonucleotides. Instant noodles, potato chips and snacks, savory rice, canned veggies, cured meats, and packet soup frequently include disodium guanylate.

Globalization and modernization are major contributors to the growing demand for flavor enhancer compounds, and this has led to a global increase in the use of dipotassium guanylate. The altering lifestyles of consumers have an impact on their dietary preferences. Spices and natural herbs have been widely utilized in cooking for decades, and this has steadily necessitated the development of technology to accommodate large food processors. These factors are driving the guanylic acid market. However, most of the tastes are country- and region-specific, and the major market players are always attempting to raise their market share and expand their footing by investing heavily in R&D and market innovations. However, rise in health consciousness is one of the most significant market limitations for artificial flavorings and hence, can restrain the guanylic acid market.

The guanylic acid market is segmented into salt type, application, end-use industry, and region. Depending on salt type, the market is bifurcated into disodium guanylate, dipotassium guanylate, and calcium guanylate. On the basis of application, it is categorized into flavoring agent, taste enhancer, and others. On the basis offend-use industry, it is categorized into cosmetics, food & beverage, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global guanylic acid market are AFINE CHEMICALS LIMITED, AHH Chemical Co., Ltd., AK Scientific Inc., Alichem Inc., Anhui BBCA Pharmaceutical Co., Ltd., BOC Sciences, Chemspace, Conier Chem & Pharma Limited, DAYANG CHEM (HANGZHOU) CO., LTD., Hubei ipure Biotech Co., Ltd., Hunan Huateng Pharmaceutical Co., Ltd., Jinan Shangbo biotech Co, Ltd., Merck KGaA, Phenomenex Inc., and Zhejiang Chengyi Pharmaceutical Co. Ltd.

Other players operating in the guanylic acid market are YAMASA CORPORATION. Zhejiang, Qucheng Chemical Co., Ltd.

Key findings of the study

• The report outlines the current guanylic acid market trends and future scenario of the market from 2022 to 2031 to understand the prevailing opportunities and potential investment pockets.
• The market size is provided in terms of revenue and volume.
• On the basis of salt type, the disodium guanylate segment is expected to grow at a CAGR of 5.5%, in terms of revenue, during the forecast period.
• On the basis of application, the taste enhancer segment is expected to grow at a CAGR of 5.6%, in terms of revenue, during the forecast period.
• Depending on end-use industry, the others segment is expected to grow at a CAGR of 5.5%, in terms of revenue, during the forecast period.
• By region, Asia-Pacific dominated the market with highest revenue shares of $520.2 million in 2021.

Japan and South Korea Overview

• In the Asia-Pacific area, demand for guanylic acid products is rising in Japan due to the country's strong need for savory flavors, followed by South Korea, which has the highest demand in the food and beverage flavor enhancer industry.
• Japan and South Korea are anticipated to see a high growth rate in the global guanylic acid market due to the high demand for guanylic acid as additives in the food and beverage industry.
• Changing consumption patterns, rapid urbanization, growing population, substantial economic development, and rising per capita income are the primary factors influencing the market's expansion.

IMPACT OF COVID-19 ON THE GLOBAL GUANYLIC ACID MARKET

• COVID-19 has spread across the globe and effected almost all aspects of life.
• As a result of the COVID-19 pandemic, the guanylic acid market was negatively impacted.
• During the COVID-19 pandemic, pharmaceutical, cosmetic, food and beverage, and other sectors were shut down. This decreased the demand for guanylic acid, which affected the guanylic acid market.
• The COVID-19 pandemic resulted in the implementation of lockdown, which restricted the production of guanylic acid and disrupted the global supply chain, resulting in a decline in market demand for guanylic acid.
• However, after the pandemic, as the supply chains return to normal after the restrictions were lifted, market participants in this market have explored for measures to minimize the pandemic's impact on their business.