February 15, 2025
Glycerol Market

Glycerol Market Is Driven By Rising Demand From Personal Care Products

Glycerol, also known as glycerin, is a byproduct of biodiesel production and soap making. It is a clear, odorless, viscous liquid that is widely used as a humectant in food, personal care products and pharmaceuticals to retain moisture. Glycerol keeps skin smooth and supple, and is commonly found in creams, lotions, soaps and other skincare products. The global glycerol market has witnessed significant growth in recent times owing to increasing spending on personal grooming and rising disposable incomes. Glycerol effectively moisturizes the skin without leaving an oily or greasy residue. It helps retain hydration and improve skin texture. Glycerol is also used as a base for various oral care products such as toothpastes and mouthwashes due to its soothing properties.

The global glycerol market is estimated to be valued at US$ 3.15 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the key trends driving the glycerol market is its increasing use in pharmaceutical applications. Glycerol is widely used as a moisturizing agent and solvent in various ointments, creams and gels used to treat skin conditions. It helps absorb excess moisture from skin wounds and ulcers and helps maintain a moist healing environment. Glycerol also promotes the absorption of other medicines through the skin. Growing prevalence of chronic diseases and increasing healthcare expenditures are fueling the demand for glycerol in pharmaceutical products. Additionally, glycerol holds promising prospects as a sustainable bio-based substitute for petrochemical-based propylene glycol in antifreeze and deicing solutions, which is another factor propelling the glycerol market growth.

Porter’s Analysis

Threat of new entrants: The global glycerol market has moderate threat from new entrants due to high capital investment requirements for manufacturing facilities.
Bargaining power of buyers: Buyers have moderate bargaining power in the glycerol market due to availability of substitutes.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated nature of raw materials.
Threat of new substitutes: Threat from substitutes is moderate as glycerol has applications across various end use industries.
Competitive rivalry: The global glycerol market witnesses high competition due to presence of numerous regional and global players.

Key Takeaways

The global Glycerol Market Growth is expected to witness high growth over the forecast period.

Regionally, Asia Pacific dominated the global market in 2023 and is expected to maintain its dominance during the forecast period. The growth in Asia Pacific region can be attributed to rising demand for glycerol from personal care & pharmaceutical industries in countries such as China and India.

Key players operating in the glycerol market are QIAGEN, Dicerna Pharmaceuticals Inc., Phio Pharmaceuticals Corp., Arcturus Therapeutics, Ionis Pharmaceuticals Inc., Sigma Aldrich (Merck KGaA), Benitec Biopharma Ltd., Silence Therapeutics PLC, SBI Biotech Co. Ltd., Alnylam Pharmaceuticals Inc., and Thermo Fisher Scientific Inc. Key players are adopting strategies like mergers, acquisitions and new product launches to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →