Glycerine Market to Grow at a CAGR of 5.2% over 2024 to 2032; Glycerine’s Exceptional Moisturizing Properties to Propel Market Growth

The global glycerine market size was valued at USD 3.79 billion in 2023. The market is projected to grow from USD 2.95 billion in 2024 to USD 4.42 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Glycerine Market Size, Share & Industry Analysis, By Grade (USP Grade and Technical Grade), By Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, and Others), and Regional Forecast, 2024-2032”.

Glycerine, a colorless and odorless liquid, plays diverse role in industries. It acts as a solvent and sweetener in food, a moisturizer in cosmetics, and an ingredient in pharmaceutical. Its ability to preserve foods and use in e-liquids illustrate its broad utility. The market is expected to ramp up owing to rising production of biodiesels.

The COVID-19 pandemic caused significant disruptions to global economies, affecting product production and supply chains. Lockdown measures hindered manufacturing and logistics, creating shortages of raw materials and labor. Despite initial setbacks, demand for product surge as industries resumed operations post-pandemic.

Oleon NV Invested nearly USD 50 Million to Expand their presence

A subsidiary of Avril group, Oleon NV invested nearly USD 50 million in December 2022 to acquire a blending plant in Texas, expending their presence in the oleochemicals business, including glycerin production.

Increased Demand in Personal Care and Pharmaceutical Industry to Bolster Market Growth

Glycerine’s exceptional moisturizing properties make it indispensable in haircare, skincare, and personal hygiene products, catering to a growing consumer preference for effective anti-aging solutions and skin barrier enhancement. Moreover, in the pharmaceutical sector, product’s role as a solvent and sweetening agent in formulations such as cough syrups underscores its therapeutic versatility, driving glycerine market growth.

However, shortages in vegetable oils disrupt biodiesel production, reducing product supply and increasing prices, which hinders market growth by limiting availability and predictability.

Key Players are Seeking Expansion Opportunities to Strengthen their Market Share

The intensity of market competition depends on growth rates, product uniqueness, and capacity utilization. Slow growth leads to fierce competition, while growing markets or specialized glycerine applications witness reduced rivalry. Major players in the market are Wilmar International Ltd, IOI Corporation Berhad, P&G Chemicals, and Avril Group are looking for expansion to boost their market share.

List of Key Players Mentioned in the Report:

• Wilmar International Ltd (Singapore)
• Cargill Inc. (U.S.)
• Emery Oleochemicals (U.S.)
• IOI Corporation Berhad (Malaysia)
• Kao Corporation (Japan)
• Godrej Industries Limited (India)
• Croda International Plc (U.K.)
• P&G Chemicals (U.S.)
• KLK OLEO (Malaysia)
• CREMER OLEO GmbH & Co. KG (Germany)
• GLACONCHEMIE GmbH (Germany)
• Timur Network Sdn Bhd (Malaysia)
• Sakamoto Yakuhin Kogyo Co. Ltd (Japan)
• Twin Rivers Technologies, Inc. (U.S.)
• Avril Group (France)

Key Industry Development:

• October 2021: A new 110,000 MT/year capacity oleochemical plant was launched by IOI Corporation Berhad Company in Penang. This plant is useful for meeting the demand for glycerine and palm and palm kernel-based fatty acids, which are the key raw materials for cosmetic products and personal care.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/glycerine-market-102168

Further Report Findings:

• Asia Pacific secured the largest market share in 2023 due to the growing pharmaceutical industry, utilizing product in various drug formulations, contributing to increased product demand and market growth.
• Europe's commitment to renewable energy, particularly through biodiesel production, ensures a stable glycerine supply. This facilitates its widespread application across industries, driving market growth aligned with sustainability goals and consumer preferences for eco-conscious products.
• On the basis of grade, the market is divided into technical grade and USP grade. USP Grade captured the largest market share in 2023. The increasing preference for plant-based ingredients in “clean beauty” products favors USP grade glycerine, enhancing its demand in the skincare industry amidst growing demand for natural alternatives.
• On the basis of application, the market is divided into food & beverages, pharmaceuticals, polyether polyols, chemical intermediate, tobacco, personal care, and others. The personal care segment captured the largest glycerine market share in 2023. Growing consumer interest in natural and sustainable ingredients with personal care formulations supports product’s popularity, sourced predominantly from plant-based origins.

Table of Segmentation