The latest report by IMARC Group, titled “Glycerin Market Report by Process (Transesterification, Saponification, Fat Splitting), Grade (USP Grade, Technical Grade), Source (Biodiesels, Fatty Acids, and Others), Application (Pharmaceuticals, Food and Beverages, Personal Care and Cosmetics, Industrial Chemicals, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market. The global glycerin market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.
Industry Trends and Drivers:
- Growing demand in food and beverage industry:
The food and beverage industry represents another critical driver for the glycerin market. Glycerin is used as a humectant, sweetener, and preservative in a wide range of food products, including baked goods, beverages, processed foods, and confectionery items. Its ability to retain moisture and improve texture makes it a valuable additive in maintaining the shelf life of food products. As consumer preferences shift toward convenience foods and packaged goods, the demand for glycerin in the food industry is rising. The food industry also favors glycerin due to its classification as a generally recognized as safe (GRAS) ingredient by regulatory authorities. This status encourages its use in a variety of formulations, helping manufacturers meet consumer expectations for taste and texture while ensuring product safety and stability.
- Rising usage in cosmetic industry:
The expanding personal care and cosmetics industry is a significant factor driving the glycerin market. Glycerin is widely used in products such as lotions, creams, shampoos, and soaps due to its moisturizing properties and ability to retain moisture. As consumers become more conscious of skin hydration and overall appearance, the demand for glycerin-based skincare products is increasing. Additionally, the trend toward natural and organic beauty products is amplifying the use of glycerin, as it is a plant-based and safe ingredient. Major cosmetics companies are incorporating glycerin in their formulations to meet this consumer demand for gentle and effective skincare solutions. This rise in glycerin use in personal care products is further supported by growing urbanization, increasing disposable incomes, and the willingness of consumers to invest in premium, high-quality cosmetic products.
- Increasing biodiesel production:
The rise in biodiesel production is significantly impacting the glycerin market, as glycerin is a byproduct of the biodiesel manufacturing process. The global push for renewable energy sources, driven by environmental concerns and government regulations promoting cleaner fuels, has increased biodiesel production in recent years. This surge has led to an abundant supply of glycerin as a co-product, further boosting its availability for use in various industries. With biodiesel production expected to continue growing, particularly in regions like North America and Europe, the glycerin market is set to benefit from this increased supply. Additionally, research into refining crude glycerin from biodiesel production into higher-quality glycerin suitable for industrial applications is expanding the market for glycerin.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
- 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
- Wilmar International Limited.
Glycerin Market Report Segmentation:
Breakup By Process:
- Transesterification
- Saponification
- Fat Splitting
Based on the process, the market has been divided into transesterification, saponification, and fat splitting.
Breakup By Grade:
- USP Grade
- Technical Grade
On the basis of the grade, the market has been bifurcated into USP grade and technical grade.
Breakup By Source:
- Biodiesels
- Fatty Acids
- Others
Based on the source, the market has been divided into biodiesels, fatty acids, and others.
Breakup By Application:
- Pharmaceuticals
- Food and Beverages
- Personal Care and Cosmetics
- Industrial Chemicals
- Others
On the basis of the application, the market has been classified into pharmaceuticals, food and beverages, personal care and cosmetics, industrial chemicals, and 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
Region-wise, the market has been divided into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
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