Global Glycerin Market
Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Glycerin Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The global glycerin market is projected to grow at a CAGR of 7.88% to reach US$4.436 billion by 2027, from US$2.608 billion in 2020.
The usage of glycerin is rising in the different end-user industries such as pharmaceuticals food and beverages among others because it has a lot of different properties that make it suitable for use in the end-user industries.
In the food and beverage industry, glycerin is gaining popularity owing to its use as a thickening agent or to control the level of moisture present in the food and stabilize it if the food contains both water and oil. Glycerin is also regarded as a safe additive by the U.S. Food and Drug Administration (FDA).
Moreover, its use in the pharmaceutical industry as an excipient and as a humectant in the cosmetics industry is pushing the market growth over the forecast period. However, the availability of substitutes in the market poses a threat to the market's growth over the forecast period.
There are some end-users, that are still making use of chemicals such as propylene and ethylene glycol for applications, that include antifreeze and de-icing, thus, impacting the market growth.
Product Offerings by Major Market Players in the Glycerin Market
The market players are active in the market by offering and making available a variety of glycerin, including crude and refined products with enhanced and advanced features in order to cater to the rising demand. This, in turn, enables them to improve their market position.
The Asia Pacific region is estimated to hold a considerable share in the forecast period owing to the fast-growing cosmetics and personal care industry in countries such as China and India
The Asia Pacific region is estimated to hold a considerable share in the forecast period owing to the fact that the cosmetics industry and personal care products manufacturing is increasing due to the rising demand from the population. In addition, the low cost of manufacturing associated with it is furthering the demand for the chemical glycerin and bolstering the growth in the region.
In addition, the North American region is expected to show considerable growth over the forecast period, which is attributable to the fact that chemical and petrochemical, as well as food and beverage industries, are also contributing to the market position of the region.
Key Developments in the Market:
In January 2022, Tara Sutaria, a young icon, was named as the brand ambassador for ITC Savlon's Savlon Glycerine Soap, a unique solution that fulfils the dual needs of soft skin and germ protection. Amidst the growing attention to the importance of personal cleanliness during the pandemic, ITC Savlon has led with innovation and a consumer-centric approach to create superior hygiene solutions to satisfy increasing consumer needs while fighting the pandemic on the front lines.
In February 2022, SUGAR Cosmetics, one of India's fastest-growing premium cosmetic companies, debuted India's first-ever powder lipstick, Air Kiss Powder Lipstick. Glycerin and silica are included in UGAR Air Kiss Powder Lipstick to help keep your lips soft and hydrated.
COVID-19 had a significant impact on the global glycerin market. The mandated lockdown and exponential surge in active cases across the globe led to the closure of production facilities, retail outlets, and travel restrictions, among several other factors that disrupted the supply and demand chain in the market.
Nevertheless, amidst the pandemic, the demand for glycerin increased in the pharmaceutical and cosmetic segments owing to the increased consumption of sanitizers and usage of glycerin in handwash products and skincare soaps.
BIODEX TRADING GmbH
Wilmar International Ltd.
Godrej Industries Limited (GIL)
Vance Group Ltd.
Croda International Plc
Procter & Gamble
Wilmar International Ltd
Shanghai Fine Chemical Co., Ltd
Pilot Chemical Company
Louis Dreyfus Company
Key Topics Covered:
1.1. Market Overview
1.2. Covid-19 Impact
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.4. Industry Value Chain Analysis
5. GLOBAL GLYCERIN MARKET ANALYSIS, BY GRADE
5.2. Crude Glycerin
5.3. Refined Glycerin
6. GLOBAL GLYCERIN MARKET ANALYSIS, BY SOURCE
6.3. Fatty Acids
6.4. Fatty Alcohols
6.5. Other Sources
7. GLOBAL GLYCERIN MARKET ANALYSIS, BY APPLICATION
7.3. Food and Beverage
7.4. Personal Care and Cosmetics
7.5. Industrial Chemicals
8. GLOBAL GLYCERIN MARKET ANALYSIS, BY GEOGRAPHY
9. COMPANY PROFILES
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