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 known as glycerol, is a chemical compound characterized by its sweet taste, transparent appearance, thick texture, lack of odor, and non-toxic nature. It is obtained through the hydrolysis of natural oils and fats found in both plants and animals. Several techniques such as saponification, hydrolysis, and transesterification of triglycerides are employed to manufacture glycerin. This versatile substance offers numerous advantages, including aiding in weight loss, enhancing exercise performance, and promoting healthy skin. It is utilized as a treatment for various medical conditions, such as ear infections, obesity, constipation, stroke, and other ailments. Additionally, it serves multiple functions as a humectant, plasticizer, emollient, sweetener, and filler in low-fat food products.
Glycerin Market Trends and Drivers:
There has been a significant increase in the use of glycerin as a solvent to enhance flavor and sweetness in a wide variety of food products and beverages. Glycerin is now commonly employed in the production of energy bars, cake icings, soft candies, chewing gum, creams, diet foods, dried fruits, fondant, fudge, and marshmallows. This surge in utilization can be attributed to the growing consumer preference for low-fat food and beverage options, which is a major driver behind the global expansion of the market.
Moreover, glycerin has found extensive application in the pharmaceutical industry as an excipient in medications such as cough syrups and tablets. This usage in medicines has had a positive influence on the market, as its adoption continues to grow. Additionally, the personal care and cosmetic product manufacturing sectors have increasingly relied on glycerin, leading to favorable market growth in this industry as well.
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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