by The global glycerol market is estimated to be valued at US$ 2.91 billion in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Glycerol, also known as glycerin, is a viscous liquid that is widely used in various industries such as pharmaceuticals, food and beverages, personal care, and chemicals. It is used as a moisturizer, emollient, and thickening agent in cosmetic and personal care products. Glycerol also has applications in the production of food and beverages, as a sweetener and humectant. The demand for glycerol is driven by its versatile properties and increasing consumer awareness regarding the benefits of glycerol-based products. The glycerol market is expected to witness high growth due to the rising demand from the cosmetics and personal care industry.
Market Key Trends:
The key trend driving the glycerol market is the increasing demand from the cosmetics and personal care industry. Glycerol is widely used in skincare and haircare products due to its moisturizing and emollient properties. It helps in retaining moisture, making the skin soft and supple. Glycerol is also used in shampoos and conditioners to improve the texture and manageability of the hair. With the growing demand for natural and organic products, the use of glycerol derived from plant-based sources has increased. This trend is expected to continue in the forecast period, driving the growth of the glycerol market.
In conclusion, the Glycerol Market Growth is projected to experience significant growth in the coming years, driven by the increasing demand from the cosmetics and personal care industry. The versatility and benefits of glycerol-based products make it a valuable ingredient in
PEST Analysis:
Political: Governments around the world are implementing regulations and policies to promote sustainability and reduce carbon emissions. This has a direct impact on the glycerol market as it is widely used in the production of biofuels and renewable chemicals. Furthermore, political stability and trade policies also play a crucial role in the global glycerol market.
Economic: The glycerol market is expected to witness significant growth due to the increasing demand for biofuels, personal care products, and pharmaceuticals. With a CAGR of 7.4%, the market is projected to reach a value of US$ 2.91 billion by 2023. Economic factors such as disposable income, consumer spending habits, and overall economic growth also influence the demand for glycerol.
Social: Changing consumer preferences towards natural and organic products have driven the demand for glycerol in the personal care industry. Glycerol is widely used in skincare, cosmetics, and hair care products due to its moisturizing properties. The growing awareness of sustainable and eco-friendly products has also contributed to the demand for glycerol.
Technological: Advancements in technology have led to the development of new and innovative methods for the production of glycerol. There is a continuous focus on improving the efficiency and sustainability of glycerol production processes. Technological advancements also play a crucial role in the extraction and purification of glycerol from various sources.
Key Takeaways:
The global glycerol market is expected to witness high growth, exhibiting a CAGR of 7.4% over the forecast period of 2023-2030. This growth is primarily attributed to the increasing demand for biofuels, personal care products, and pharmaceuticals. Glycerol’s versatile applications in various industries make it a key ingredient in the production of a wide range of products.
In terms of regional analysis, the Asia Pacific region is projected to be the fastest-growing and dominating region in the glycerol market. Rapid industrialization, urbanization, and increasing disposable income in countries like China and India have led to a surge in demand for glycerol-based products. Additionally, supportive government policies and a rising awareness of sustainable products are driving the glycerol market in the region.
Key players operating in the glycerol market include Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group. These key players contribute significantly to the global glycerol market through their extensive product portfolios, research and development activities, and strategic partnerships.
Overall, the glycerol market is expected to experience substantial growth in the coming years due to the increasing demand for sustainable products and advancements in technology. The market presents immense opportunities for key players to expand their presence and cater to the evolving needs of consumers in various industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
