Glycerin Market Overview 2023-2028
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.
Glycerin, also called glycerol, is a chemical compound with a sweet taste, transparent appearance, thick texture, no odor, and non-toxic properties. It is derived from the hydrolysis of natural oils and fats found in both plants and animals. Various methods like saponification, hydrolysis, and transesterification of triglycerides are used to produce it. Glycerin offers several benefits including aiding in weight loss, enhancing exercise performance, and promoting healthy skin. It is used as a treatment for conditions like ear infections, obesity, constipation, stroke, and other medical ailments. Additionally, it serves as a humectant, plasticizer, emollient, sweetener, and filler in low-fat food products.
Glycerin Market Trends and Drivers:
The utilization of glycerin as a solvent for enhancing flavor and sweetness in a wide range of food products and beverages has seen a significant surge. It is now being commonly used in the preparation of energy bars, cake icings, soft candies, chewing gum, creams, diet foods, dried fruits, fondant, fudge, and marshmallows. This trend is driven by the growing consumer preference for low-fat food products and beverages, which is a major factor contributing to the market's expansion worldwide.
Furthermore, glycerin has found extensive application in the pharmaceutical industry as an excipient in drugs like cough syrups and tablets. This use in medicines has a positive impact on the market, as it continues to gain adoption. Additionally, the manufacturing of personal care and cosmetic products has also witnessed an increasing reliance on glycerin, leading to favorable market growth in this sector.
Global Glycerin Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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.
The report has segmented the market on the basis of region, process, grade, source and application.
Breakup by Process:
- Transesterification
- Saponification
- Fat Splitting
Breakup by Grade:
- USP Grade
- Technical Grade
Breakup by Source:
- Biodiesels
- Fatty Acids
- Others
Breakup by Application:
- Pharmaceuticals
- Food and Beverages
- Personal Care and Cosmetics
- Industrial Chemicals
- Others
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
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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