Glycerin Market - Forecasts from 2022 to 2027

The global glycerin market is projected to grow at a CAGR of 7.88% to reach US$4.436 billion by 2027, from US$2.608 billion in 2020.

Product Offerings by Major Market Players in the Glycerin Market

The market players are active in the market by offering and making available a variety of glycerin, including crude and refined products with enhanced and advanced features in order to cater to the rising demand. This, in turn, enables them to improve their market position.

Some of the examples of product offerings are as follows:

Oleon NV, which is considered one of the leading companies that are involved in the manufacture and provision of oleochemicals, offers different types of glycerin products under its product portfolio to cater to the demands of various end-users. Some of the products it offers are Glycerin 4813, Glycerin 4818, Glycerin 4823, and Glycerin 4808/4808K, among others. Glycerin 4813 is a product that is mixed glycerin and is in a highly purified form for industrial purposes. Glycerin 4818 is also a product that is mixed glycerin and is in a highly purified form for industrial purposes. Glycerin 4823 is a mixed glycerin product and has about 82%-86% for industrial uses, and Glycerin 4808/4808K is a product that contains glycerin content of more than 99.7%, is a vegetable type glycerin, and is FSSC 22000 CERTIFIED for use in food.

Kao Corporation, involved in the manufacture of different types of chemicals, offers different types of glycerin products under its product portfolio. It offers cosmetic grade glycerin, food additive grade glycerin, refined glycerin, and JP grade glycerin, among others. The cosmetic grade glycerin contains more than 98.5% glycerin and is produced in the Asia Pacific region. The food additive grade glycerin contains more than 98.5% glycerin and is produced in the Asia Pacific region. The refined glycerin contains more than 98.5% glycerin and is produced in the Asia Pacific region. Lastly, the product JP grade glycerin is used for applications such as pharmaceuticals, surface-active agents, and paints, among others, and contains about 84-87% glycerin.

Personal care and cosmetics are estimated to grow at a significant pace over the forecast period owing to the growing efforts by the manufacturers to improve their product offerings, while the pharmaceutical industry is estimated to hold a considerable share over the forecast period.

The pharmaceutical industry is estimated to hold a significant share over the forecast period owing to the fact that the share is rising in usage in different applications such as using glycerin as a sweetener in syrups, lozenges, and as an excipient compound in various eyewash solutions. In addition, small amounts of glycerin are also used in eardrops, topical creams, and gel capsules, among others, apart from the fact that it can be used as an ophthalmic agent and an osmotic diuretic. Personal care and cosmetics are estimated to grow at a significant pace over the forecast period as the demand for more enhanced and refined personal care products is increasing among the different sections of society, mostly women. Glycerin is being increasingly used in different cosmetic products as it acts as a humectant and has moisturizing properties. This helps the skin stay supple and does not let it dry.

The Asia Pacific region is estimated to hold a considerable share in the forecast period owing to the fast-growing cosmetics and personal care industry in countries such as China and India

The Asia Pacific region is estimated to hold a considerable share in the forecast period owing to the fact that the cosmetics industry and personal care products manufacturing is increasing due to the rising demand from the population. In addition, the low cost of manufacturing associated with it is furthering the demand for the chemical glycerin and bolstering the growth in the region.

In addition, the North American region is expected to show considerable growth over the forecast period, which is attributable to the fact that chemical and petrochemical, as well as food and beverage industries, are also contributing to the market position of the region.

Key Developments in the Market:

In January 2022, Tara Sutaria, a young icon, was named as the brand ambassador for ITC Savlon's Savlon Glycerin Soap, a unique solution that fulfils the dual needs of soft skin and germ protection. Amidst the growing attention to the importance of personal cleanliness during the pandemic, ITC Savlon has led with innovation and a consumer-centric approach to create superior hygiene solutions to satisfy increasing consumer needs while fighting the pandemic on the front lines.

In February 2022, SUGAR Cosmetics, one of India's fastest-growing premium cosmetic companies, debuted India's first-ever powder lipstick, Air Kiss Powder Lipstick. Glycerin and silica are included in UGAR Air Kiss Powder Lipstick to help keep your lips soft and hydrated.

COVID-19 Impact

COVID-19 had a significant impact on the global glycerin market. The mandated lockdown and exponential surge in active cases across the globe led to the closure of production facilities, retail outlets, and travel restrictions, among several other factors that disrupted the supply and demand chain in the market. Nevertheless, amidst the pandemic, the demand for glycerin increased in the pharmaceutical and cosmetic segments owing to the increased consumption of sanitizers and usage of glycerin in handwash products and skincare soaps.

Segmentation:

By Grade

• Crude Glycerin
• Refined Glycerin

By Source

• Biodiesels
• Fatty Acids
• Fatty Alcohols
• Other Sources

By Application

• Pharmaceuticals
• Food and Beverage
• Personal Care and Cosmetics
• Industrial Chemicals

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Spain
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Indonesia
• Taiwan