Glycerin is a trihydroxyalcohol, which is also known as glycerol. It is odorless, viscous, and colorless to slight brown colored liquid having sweet flavor. It is majorly produced as a by-product in two different industrial processes, hydrolysis and transesterification of fatty acids. Glycerin is used in a wide variety of applications such as beauty & personal care products and food & beverages as it offers moisturizing, emulsifying as well as sweetening properties to the products.
Refined grade glycerin is used in pharmaceutical as well as home care and cosmetic products. Glycerin is used to increase density, viscosity, and freezing point of product formulations. Growth of end-use industries of refined glycerin globally is in turn expected to boost demand for glycerin over the forecast period. For instance, according to Consulate General of Israel, Mumbai-Economic Department of Government of India, Indian beauty and personal care industry was valued at about US$ 7.0 billion in 2014 and is expected to reach about US$ 10.0 billion by 2021.
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stringent government regulations imposed on glycerin production in order ensue safety and quality is expected to negatively impact growth of glycerin market over the forecast period. For instance, glycerin intended for pharmaceutical applications should meet regulatory requirements set by different pharmacopeia such as USP (United States Pharmacopeia) and EP (European Pharmacopoeia), whereas glycerin intended for food applications should meet criteria of various authorities such as ‘Food Codex’, ‘Food Safety and Standards Authority of India’, and Food Chemicals Codex standards.
In foods & beverage industry, glycerin is used as an artificial sweetener, humectant, and as a solvent. Glycerin is also used as a thickening agent in liqueurs and as a filler in commercially prepared low-fat food products. Therefore, growth of food & beverage industry in the region is in turn expected to fuel growth of glycerin market during the forecast period.
On the basis of grade, the global glycerin market is segmented into:
On the basis of application, the global glycerin market is segmented into:
Beauty & Personal Care
Food & Beverage
Others (Animal Feed, Fuel Additive etc.)
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Key players operating in the global glycerin market include Emery Oleochemicals, IOI Oleochemicals, Godrej Industries, Wilmar International, P&G Chemicals, Kao Corporation, Cargill, Incorporated, Avril Group, Croda International Plc, Sakamoto Yakuhin Kogyo Co., Ltd, and Twin Rivers Technologies, Inc.
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