Glycerin Market Report

Global Glycerin Market:

The global glycerin market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032. The increasing demand for personal care products with moisturizing properties is stimulating the market.

Glycerin Market Analysis:

• Major Market Drivers: The growing use of glycerin in the pharmaceutical industry for medicine and capsule production is propelling the market.
• Key Market Trends: The rising demand for glycerin as a sweetener and preservative in the food industry is acting as a significant growth-inducing factor.
• Competitive Landscape: Some of the major market companies include Archer-Daniels-Midland Company, Avril Group, BASF SE, Cargill Incorporated, Croda International PLC, Emery Oleochemicals (PTT Global Chemical Public Company Limited), Godrej Industries Limited, IOI Corporation Berhad, Kao Corporation, Kuala Lumpur Kepong Berhad, Louis Dreyfus Company B.V., The Procter & Gamble Company, and Wilmar International Limited, among many others.
• Geographical Trends: Asia Pacific, Europe, and North America, fueled by growth in personal care, pharmaceutical, and food sectors. Meanwhile, Latin America and the Middle East & Africa are experiencing gradual expansion, particularly in healthcare and industrial applications.
• Challenges and Opportunities: The dependence on biodiesel production is hindering the market. However, exploring alternative production methods like synthetic glycerin and promoting its diverse applications in various industries to ensure a steady supply will continue to strengthen the market over the forecast period.
   

Glycerin Market Trends:

Increasing Demand for Biobased Glycerin Alternatives

The global shift toward sustainability is driving demand for biobased glycerin, which is offering a renewable alternative to petrochemical-derived products. In contrast, industries are increasingly adopting biobased glycerin due to its environmental benefits, helping to reduce carbon footprints and support the circular economy, especially within chemical production processes. For instance, in October 2024, Argent Energy launched Europe's largest facility for producing biobased, technical-grade glycerin at the Port of Amsterdam. This 50,000-ton capacity refinery upgrades crude glycerin into 99.7% pure glycerin, providing the chemical industry with a sustainable alternative to petrochemicals, supporting the circular economy, and elevating the glycerin market share.

Growing Usage of Skincare Products

The skincare industry relies on glycerin for its hydrating and moisturizing properties. Moreover, its ability to lock in moisture and improve skin texture makes it an essential ingredient in many products. As consumer demand for skincare solutions rises, so does the market's reliance on glycerin as a key component, thereby escalating the glycerin market share. For instance, in January 2024, Bubble Skincare launched two new serums. Both products feature glycerin as a key ingredient, aiding in soothing and hydrating the skin while maintaining the natural moisture barrier and reducing irritation.

Rising Preference for Sustainable Chemical Feedstocks

Industries are focusing on more sustainable inputs to reduce their dependence on fossil fuels. In addition, glycerin, a versatile and eco-friendly feedstock, is gaining traction in this context. Also, its ability to replace petrochemical-based raw materials is appealing to companies looking to align with environmental goals and reduce ecological impact, thereby driving glycerin market growth. For instance, in July 2024, Shiseido's Maquillage announced the expansion of its dramatic essence liquid foundation line with a cushion format. The formula includes glycerin, which helps improve skin texture and hydration. This development highlights glycerin's role in enhancing skincare products within the beauty industry.

Global Glycerin Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on process, grade, source, and application.

Breakup by Process:

• Transesterification
• Saponification
• Fat Splitting
   

The report has provided a detailed breakup and analysis of the market based on the process. This includes transesterification, saponification, and fat splitting.

Transesterification, saponification, and fat splitting are key processes for glycerin production. On the contrary, transesterification converts fats into biodiesel and glycerin, saponification produces soap and glycerin, while fat splitting separates fatty acids and glycerin using high-pressure steam.

Breakup by Grade:

• USP Grade
• Technical Grade
   

The report has provided a detailed breakup and analysis of the market based on the grade. This includes USP grade and technical grade.

USP grade glycerin is a high-purity form used in pharmaceuticals, food, and personal care products, meeting strict quality standards. In contrast, technical grade glycerin is less pure, often used in industrial applications like antifreeze and chemical manufacturing.

Breakup by Source:

• Biodiesels
• Fatty Acids
• Others
   

The report has provided a detailed breakup and analysis of the market based on the source. This includes biodiesels, fatty acids, and others.

Glycerin, a byproduct of biodiesel production, is derived from the transesterification of fats and oils. It is produced when fatty acids are converted into biodiesel, making it an essential source for various applications in cosmetics, pharmaceuticals, and more.

Breakup by Application:

• Pharmaceuticals
• Food and Beverages
• Personal Care and Cosmetics
• Industrial Chemicals
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes pharmaceuticals, food and beverages, personal care and cosmetics, industrial chemicals, and others.

Glycerin finds diverse applications across industries, including pharmaceuticals for formulations, food and beverages as a sweetener and preservative, personal care and cosmetics for moisturization, and industrial chemicals as a solvent, which is elevating the glycerin market share. In addition, it also serves various purposes in other sectors like textiles and tobacco.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The market outlook report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

The glycerin market size is experiencing growth across regions, with Asia Pacific, Europe, and North America showing significant demand due to expanding applications in pharmaceuticals, food, and personal care industries. In contrast, Latin America is also seeing increased use in industrial applications, while the Middle East and Africa are witnessing steady development, particularly in the cosmetics and healthcare sectors. Overall, each region’s growth is shaped by its unique industry dynamics and consumer demand.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all market companies have also been provided. Some of the key players in the market include:

• Archer-Daniels-Midland Company
• Avril Group
• BASF SE
• Cargill Incorporated
• Croda International PLC
• Emery Oleochemicals (PTT Global Chemical Public Company Limited)
• Godrej Industries Limited
• IOI Corporation Berhad
• Kao Corporation
• Kuala Lumpur Kepong Berhad
• Louis Dreyfus Company B.V.
• The Procter & Gamble Company
• Wilmar International Limited
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Glycerin Market Recent Developments:

• October 2024: Argent Energy launched Europe’s largest facility for producing biobased, technical-grade glycerin at the Port of Amsterdam. This 50,000-ton capacity refinery upgrades crude glycerin into 99.7% pure glycerin, providing the chemical industry with a sustainable alternative to petrochemicals.
• July 2024: Shiseido’s Maquillage announced the expansion of its dramatic essence liquid foundation line with a cushion format. The formula includes glycerin, which helps improve skin texture and hydration.
• January 2024: Bubble Skincare launched two new serums. Both products feature glycerin as a key ingredient, aiding in soothing and hydrating the skin while maintaining the natural moisture barrier and reducing irritation.

Glycerin Market Report Scope:

Key Questions Answered in This Report

• How has the global glycerin market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global glycerin market growth?
• What are the key regional markets?
• What is the breakup of the market based on the process?
• What is the breakup of the market based on the grade?
• What is the breakup of the market based on the source?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global glycerin market, and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the glycerin market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global glycerin market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the glycerin industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.