Glycerin Market

Glycerin Market Study by USP and Technical for Pharmaceuticals, Food & Beverages, Alkyd Resins, Tobacco, Personal Care, Polyether Polyols, and Industrial Chemicals from 2024 to 2034

Analysis of Glycerin Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Glycerin Market Outlook (2024 to 2034)

Worldwide revenue from the sales of glycerin is projected to reach US$ 24.64 billion in 2024, as stated in a newly published Fact.MR report. The global glycerin market has been forecasted to expand at 6.9% CAGR and climb to a value of US$ 48.03 billion by the end of the assessment period (2024 to 2034).

As a main component of triglycerides, glycerin is generally found in animal fat, crude oil, and vegetable oil. It is derived from soap or biodiesel production. Glycerin is one of the popular organic alcohol mixtures of sugar and is completely miscible in water. In addition, glycerin similar to water is completely miscible in several compounds and substances.

Glycerin is becoming more popular across several industry verticals. It is used as a thickening agent in foods, cosmetics, and sweetening agents. Moreover, its use as a humectant and emulsifier in cosmetics and plasticizers in the paints, paper, and packaging industries is stimulating its demand. The growing use of glycerin as a preservative in foods & beverages is creating growth prospects for market players.

More people are becoming more conscious of the adverse effects of chemical ingredients and thereby are giving preference to personal care and cosmetic products containing natural ingredients. Thereby, several cosmetic manufacturers, such as Unilever, Johnson & Johnson, L’Oreal, P&G, and others are using natural ingredients, such as glycerol to match increasing global demand. Glycerin is used as an exceptional moisturizer and humectant in toiletries and cosmetics.

Water-solubility, non-toxicity, and eco-friendly nature of glycerin are resulting in its increased consumption. It also functions as a fragrance ingredient, viscosity reducer, and oral care and hair conditioning agent. Thereby, rising demand for cosmetics is leading to increased consumption of glycerin.

  • North America is expected to account for 29.1% of the global glycerin market share by the end of 2034.
  • Demand for glycerin in Canada is forecasted to increase at a CAGR of 7.8% through 2034.
  • Sales of glycerin in Japan are evaluated to rise at 7.8% CAGR from 2024 to 2034.
Report Attributes Details
Glycerin Market Size (2024E) US$ 24.64 Billion
Forecasted Market Value (2034F) US$ 48.03 Billion
Global Market Growth Rate (2024 to 2034) 6.9% CAGR
South Korea Market Growth Rate (2024 to 2034) 7.8% CAGR
East Asia Market Share (2034F) 38.4%
Market Share of Technical Grade Glycerin (2034F) 52%
Key Companies Profiled BASF SE; Wilmar International Ltd.; LG Household & Healthcare Ltd.; DowDupont; SEPPIC S.A.; Croda International Plc; Galaxy Surfactants; Huntsman Corporation; Pilot Chemical Company; Shanghai Fine Chemical Co., Ltd.; Emergy Oleochemicals; Cargill, Incorporated; Kao Corporation; IOI Corporation Berhad; Godrej Industries

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What is Benefitting Glycerin Manufacturers Worldwide?

“Increasing Use of Glycerin in Cosmetics and Personal Care Products”

Steady economic growth in several potentially high growth countries, such as India is contributing to rising expenditure on products used prominently for personal care and grooming, which is resulting in the expansion of the industry. Glycerin is utilized as a lubricant and solvent in personal care products, which is further having a positive impact on the expanding market size going forward.

“Accelerating Demand for Renewable Energy Resources”

Biofuels are gradually being used as an eco-friendly and sustainable source of fuel in the current scenario. Increasing production of biodiesel is positively impacting glycerin market trends. Biodiesel is used as a safe, eco-friendly, and sustainable option as it produces comparatively less pollutants than conventional fuels. Further, it is generally used as a blend with petroleum fuel in several vehicles. Biodiesel prominently acts as a prominent raw procedure for the glycerin production process, which is generally called transesterification. Glycerin is obtained as a by-product in this process.

What is Lowering the Sales Growth of Glycerin to Some Extent?

“High Cost of Refining Procedure”

Glycerin is highly susceptible to price variations and fluctuations. The conventional method of removing glycerol is primarily through gravity separation or centrifugation. This method is generating crude grade glycerin, which contains certain impurities, such as oil, salt, methanol, and other organic procedures, subsequently contributing to increased prices for getting refined glycerol. Moreover, high maintenance costs and capital investment associated with the glycerin production procedures are resulting in increased costs of the product.

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What is the Contribution of Startups to Global Glycerin Market Growth?

“Startups Leveraging Opportunities Created with Growing Consumption of Glycerin in Food & Beverages”

Glycerin is consumed in food & beverage as a humectant, which is used for food preservation. It is also used in dairy and confectionery products as a sweetener and becoming a popular choice among consumers opting for low carbohydrate amounts. So, new market players are expected to leverage opportunities created by the rising demand for glycerin as a sugar substitute.

Country-wise Insights

East Asia is projected to account for a share of 38.4% of the global market by the end of 2034, as revealed in the newly published report by Fact.MR, a market research and competitive intelligence provider. Growing demand for cosmetics and personal care products in the region is contributing to the increased consumption of glycerin as a humectant, thereby creating prospects for market players.

What Makes the United States a Highly lucrative Market for Glycerin Manufacturers?

“Increasing Preference for Natural Ingredient-based Personal Care Products”

Attribute United States
Market Value (2024E) US$ 5.19 Billion
Growth Rate (2024 to 2034) 7.4% CAGR
Projected Value (2034F) US$ 10.57 Billion

The United States is approximated to occupy 75.7% share of North America by 2034. There is a noteworthy increase in the demand for glycerin in several personal care products, such as conditioners, shampoos, lotions, and others because of a growing preference for natural ingredient-based grooming products. In addition, the rising use of biodiesel as a mandatory blending and fuel with petroleum diesel is creating prospects for market players as it results in increasing production of glycerin.

Why is the Glycerin Market Size Expanding at a Healthy Pace in China?

“Steady Growth of Cosmetics and Food Processing Industries”

Attribute China
Market Value (2024E) US$ 5.18 Billion
Growth Rate (2024 to 2034) 7.2% CAGR
Projected Value (2034F) US$ 10.38 Billion

China is forecasted to hold a share of 56.3% of East Asia by the end of 2034. The cosmetic industry in the country is experiencing significant growth owing to the increasing demand for premium products. Moreover, the growing count of working women is leading to the rising sales of personal care and grooming products, which is further resulting in the increased consumption of glycerin in these products for soothing features. Moreover, an expansion of the food processing industry is also pushing demand for glycerin as a sweetener, solvent, thickener, and humectant.

What is the Future of the Glycerin Business in Japan?

“Presence of Well-established Pharmaceutical Industry”

Attribute Japan
Market Value (2024E) US$ 2.4 Billion
Growth Rate (2024 to 2034) 7.8% CAGR
Projected Value (2034F) US$ 5.08 Billion

Japan is analyzed to contribute a share of 27.6% of the East Asian market by 2034-end. The country is one of the prominent pharmaceutical markets in the region, which is stimulating demand for glycerin as one of the vital ingredients. It is used as an excipient in eyewash solutions and a sweetener in lozenges and syrups. Glycerin is utilized as one of the common ingredients in pharmaceuticals as it helps in improving the taste and smoothness of medicines.

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Category-wise Insights

As opined in a newly published report by Fact.MR, biodiesel-sourced glycerin is projected to hold a noteworthy share of the global market by 2034-end. Increasing demand for renewable and sustainable energy resources is contributing to the biodiesel-based glycerin. In addition, the increasing production of diesel is contributing to the easy availability of glycerin.

Why is Technical Grade Glycerin in Such High Demand?

“Technical Grade Glycerin Preferred for Lesser Impurities”

Attribute Technical Grade
Segment Value (2024E) US$ 13.42 Billion
Growth Rate (2024 to 2034) 6.4% CAGR
Projected Value (2034F) US$ 24.98 Billion

Technical grade glycerin is evaluated to possess 52% of global market revenue share by the end of 2034. Glycerin is utilized for manufacturing polyether polyols, epichlorohydrin, alkyd resins, and other chemical products. The increasing popularity of glycerin in pharmaceutical & healthcare, food & beverages, and personal care industries is creating growth prospects for market players. This glycerin type is free from impurities, which is contributing to its widespread use in the abovementioned industries.

Which Application of Glycerin is More Rewarding for Market Players?

“Increasing Use of Glycerin in Personal Care Products for Lubrication and Smoothness”

There is an increased demand for glycerin in personal care products. It is adopted widely in the production of toothpaste, soaps, skincare products, shaving cream, and hair care products. It provides smoothness and lubrication in personal care products. The ability to reduce viscosity, humectant nature, and conditioning of glycerin are playing a vital role in cosmetics, which is leading to its rising consumption. Thereby, the rising use of glycerin in skincare, lip care, baby care, eye care, and other personal care products is widening opportunities for market players.

Competitive Landscape

Key players in the glycerin market are incorporating several initiatives, such as mergers, acquisitions, collaborations, and others for strengthening their position across more regions.

For instance

  • Oleochemical acquired a blending plant in Conroe, Texas, in December 2022. This will help the company strengthen its olechemicals division including the manufacturing of glycerin.

Fact.MR provides detailed information about the price points of key manufacturers of glycerin positioned across the world, sales growth, production capacity, and speculative technological expansion, in this newly published market report.

Segmentation of Glycerin Market Research

  • By Grade:

    • USP
    • Technical
  • By Form:

    • Refined
    • Crude
  • By Source:

    • Biodiesel
    • Soap
    • Fatty Acid & Fatty Alcohol
    • Others
  • By Application:

    • Pharmaceuticals
    • Food & Beverages
    • Alkyd Resins
    • Tobacco
    • Personal Care
    • Polyether Polyols
    • Industrial Chemicals
    • Others
  • By Region:

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • MEA

- FAQs -

What is the market size of glycerin in 2024?

The global glycerin market is expected to reach a value of US$ 24.64 billion in 2024.

What are the sales projections for glycerin by 2034?

Worldwide sales of glycerin are forecasted to reach US$ 48.03 billion by 2034.

At what rate is the global market forecasted to advance?

The global market is projected to expand at a CAGR of 6.9% from 2024 to 2034.

What is the contribution of East Asia to global market revenue?

East Asia is projected to capture a market share of 38.4% by 2034-end.

At what rate is the market projected to expand in South Korea?

Demand for glycerin in South Korea is approximated to increase at a 7.8% CAGR from 2024 to 2034.

What is the market scenario for technical glycerin?

Global sales of technical glycerin are forecasted to rise at 6.4% CAGR and reach US$ 24.98 billion by 2034.

Who are some of the prominent manufacturers of glycerin?

Some of the leading market players are DowDupont, SEPPIC S.A., Galaxy Surfactants, Huntsman Corporation, and Pilot Chemical Company.

What is the profit of glycerin?

Applying glycerin on the skin helps in retaining moisture in the skin and gives a youthful and safe glow.

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