Glycerin, also known as glycerol, possesses distinct qualities such as a sweet taste, transparent appearance, thick texture, lack of odor, and non-toxic nature. It is derived from the hydrolysis of natural oils and fats present in both plants and animals. Manufacturers employ various techniques like saponification, hydrolysis, and transesterification of triglycerides to produce glycerin. This versatile substance offers numerous benefits, including aiding in weight loss, improving exercise performance, and promoting healthy skin. It is also utilized in the treatment of diverse medical conditions such as ear infections, obesity, constipation, stroke, and other ailments. Moreover, glycerin serves multiple purposes as a humectant, plasticizer, emollient, sweetener, and filler in low-fat food products.
How Big is the Global Glycerin Market?
The global glycerin market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
Global Glycerin Market Trends:
The utilization of glycerin as a solvent to enhance flavor and sweetness in various food products and beverages has witnessed a significant rise. Glycerin is now widely used in the production of energy bars, cake icings, soft candies, chewing gum, creams, diet foods, dried fruits, fondant, fudge, and marshmallows. This increased usage can be attributed to the global market’s expansion, driven by the growing consumer preference for low-fat food and beverage options.
Furthermore, glycerin has found extensive application in the pharmaceutical industry as an excipient in medications like cough syrups and tablets. This growing adoption of glycerin in medicines has had a positive impact on the market. Moreover, the personal care and cosmetic product manufacturing sectors have increasingly relied on glycerin, contributing to favorable market growth in these industries as well.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Process:
- Fat Splitting
Breakup by Grade:
- USP Grade
- Technical Grade
Breakup by Source:
- Fatty Acids
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Industrial Chemicals
Breakup by Region:
- North America(United States, Canada)
- Asia-Pacific(China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe(Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America(Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Archer-Daniels-Midland Company, Avril Group, BASF SE, Cargill Incorporated, Croda International PLC, Emery Oleochemicals (PTT Global Chemical Public Company Limited), Godrej Industries Limited, IOI Corporation Berhad, Kao Corporation, Kuala Lumpur Kepong Berhad, Louis Dreyfus Company B.V., The Procter Gamble Company and Wilmar International Limited.
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