Glycerol Market Expected to Witness High Growth Owing to Wide Applications across Industries

Glycerol, also known as glycerin, is a simple polyol compound. It is colorless, odorless, and viscous liquid which is derived from vegetables and animal fats as a by-product of soap manufacture and biodiesel production. Glycerol has wide applications across various end-use industries such as food & beverage, pharmaceutical, personal care, and others. It acts as a humectant in toothpaste, mouthwashes, lozenges, and cough drops. Further, glycerol enhances food texture and acts as a vehicle for flavors and active ingredients in confectionery products. These versatile properties stimulate the demand for glycerol globally.

The Global Glycerol Market Share is estimated to be valued at US$ 3.63 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.

Key Takeaways
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. These players are engaged in expanding their production capacities and geographical presence throughout the globe to leverage new opportunities.

The global glycerol market provides several growth opportunities such as its increasing applications in personal care & pharmaceutical products. There has been a rising demand for natural and organic personal care products that use glycerol as a key ingredient owing to its humectant and hydrating properties. Further, glycerol acts as an active pharmaceutical agent and excipient which stimulates its demand from the pharmaceutical industry.

The major players are focused on tapping markets in Asia Pacific and South America for global expansion of their glycerol business. Countries like China, India, Brazil, and others provide lucrative prospects owing to the developments across end-use industries and growing per capita expenditure on personal care and food products. Additionally, setting up production facilities near consumer bases enables reliable supplies and better serves regional needs.

Market Drivers:
Wide range of applications across industries is one the major drivers augmenting the glycerol market growth. It is used as an additive, solvent, and humectant in food & beverages, personal care products, pharmaceuticals, and other industries.

Market Restrains:
Presence of substitute products can restrain the glycerol market growth. Alternative moisturizing ingredients like propylene glycol, sorbitol are used as substitutes to glycerol in cosmetics, food, and other applications.
Segment Analysis
The glycerol market is segmented into crude and refined. The refined glycerol segment is dominating owing to its wide applications in food and beverages, pharmaceuticals and personal care industry. Refined Glycerol has low acid value and more clarity compared to crude glycerol. It finds extensive usage in variety of applications requiring high purity glycerol like in pharmaceuticals, food and beverages.

Global Analysis
The North America region holds the largest share in the glycerol market owing to high consumption from food and beverage industry. The region witnesses high usage of glycerol as humectant, solvent and sweetener in variety of food products. The Asia Pacific region is the fastest growing market for glycerol. Countries like China, India, Malaysia, Indonesia are witnessing significant growth owing to expansion of personal care and cosmetics industry. Growing incomes and changing lifestyles have boosted demand for personal care products in the Asia Pacific region making it most lucrative market for glycerol producers.