Global glycerol market was worth USD 2.6 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 4.0%) between 2020 and 2027. It is expected that the market will grow due to its growing demand from the food, pharmaceutical and nutraceutical sectors. It is used in many food products, including bakery products, condensed milk and processed meats. It is used commercially as a byproduct of biodiesel manufacturing. Many countries, including South Korea, U.S. Germany and Indonesia, have implemented biodiesel mandates. A certain amount of biodiesel can be included in traditional fuel. The demand for biodiesel is rising around the world, which is expected to increase its production. This will in turn create an unaffected raw material supply.
The product as a crude form is obtained from biodiesel manufacturing. These impurities are further removed by several purification methods, including distillation, chemical treatment and extraction. You can combine the above techniques to achieve high purity products.
Because of its low cost and adaptability to different products, distillation is a common method to purify products. Due to the product's high specific heat, distillation of crude glucoserol can be energy-intensive and requires a large energy input. Manufacturers are now looking for alternative purification methods that require less capital and are less energy-intensive.
In 2019, the biodiesel segment had the highest revenue share at over 59.1%. Glycerol can be derived from both natural and synthetic sources, but the increasing consumer awareness about the benefits of using biodiesel in transport fuels and the increased demand for it has made it one the most prominent sources of glycerol. In 2019, the revenue share was over 59.1%. It is obtained by transesterification when sourcing biodiesel.
It can also be made using hydrolysis of oils or fats, as well as saponification. The commercial soap-making process uses saponification, which yields glycerol at about 10.0% of its value. Biodiesel production yields about 60.0% to 70%.
In 2019, the 65.1% revenue share was held by the refined glycerol segment. It is expected to continue its dominance of the glycerol market during the forecast period. It can be used in many applications, including pharmaceutical, food, beverage, nutraceutical and cosmetics. Purified glycerol can be purchased commercially in a variety of grades, including pharmaceutical, food, or cosmetic. End-use applications determine the quality and purity of the product. Glycerol for pharmaceutical formulations must be 99.0% pure. The purification process must be taken into consideration in order to meet all quality standards, from pharmaceutical to food.
There are many new uses for crude glycerol, including animal feed and production of docosahexaenoic, citric acid, and 1, 3-propanediol. This product is rapidly gaining popularity as an animal feed component. It has the potential to replace corn in diets. It is likely that the presence of dangerous impurities in crude glucoserol will be a significant barrier to its use. The impurities in crude glycerol may affect the conversion of glycerol to other products.
In 2019, the personal care and cosmetics sector accounted for 36.0% of the revenue share. It is used in many cosmetic and personal care products, including toothpaste, moisturizers, shampoos and hair conditioners. It is used in moisturizing creams to help smoothen the skin and add moisture to the skin's surface. It is also used in eye drops and shaving creams. The product is approved in the United States for use in skin-care products. It is regulated by FDA as GRAS.
Glycerol can be found in many dairy products as well as canned, processed, and functional foods. Glycerol can be added to food formulations as a thickener or sweetener and humectants. Glycerol is a food additive that has been Generally Recognized as Safe (GRAS), by the U.S. Food and Drug Administration. Glycerol can also be made from animal and vegetable sources, such as soybean, palm, coconut, and soya oil, as well as animal fats like beef and tallow. It can also be synthesized from propylene.
Asia Pacific held a 21.7% revenue share in 2019. It is expected to grow at a CAGR of 4.2% during the forecast period. This is due to increased consumer spending, growing acceptance of healthy lifestyles, and the expansion of end-use industry such as nutraceutical and pharmaceutical, personal care and cosmetics. Due to increased production of epichlorohydrin, countries like India and China are expected to see an increase in glycerol intake. Global demand for glycerol will grow due to increased use of cosmetic and pharmaceutical products that contain it.
Europe held a market share of more than 28.9% in 2019, thanks to the increased demand for personal care, pharmaceuticals and food and beverage products. This region is a major market for nutraceutical and pharmaceutical products. These sectors are a major source of product demand.
The COVID-19 epidemic has severely affected the region. Additionally, the worst-hit countries are Italy and the U.K., which has resulted in several manufacturing companies being shut down. This will have a significant impact on the supply chain for glycerol and could negatively affect market growth in the region. Low biodiesel production and slow imports have resulted in a shortage of glycerol, which has in turn affected its prices.
The market is fragmented by the presence of long-standing, established players. To increase their product portfolios and meet growing end-use market demand, these players are focusing on expansion, acquisition, and investment strategies. The following are some of the most prominent players in the global glycerol market:
Cargill, Incorporated
BASF SE
Kao Corporation
Oleon N.V.
KLK Oleo
Up Market Research published a new report titled “Glycerol Market research report which is segmented by Source (Soap, Fatty Alcohols, Fatty Acids, Biodiesel), by End Use (Food & Beverage, Pharmaceutical), by Type (Refined, Crude), By Players/Companies Kao Corporation, BASF SE, Cargill Incorporated, KLK Oleo, Oleon NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Glycerol Market Research Report |
By Source | Soap, Fatty Alcohols, Fatty Acids, Biodiesel |
By End Use | Food & Beverage, Pharmaceutical |
By Type | Refined, Crude |
By Companies | Kao Corporation, BASF SE, Cargill Incorporated, KLK Oleo, Oleon NV |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 232 |
Number of Tables & Figures | 163 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Source (Soap, Fatty Alcohols, Fatty Acids, Biodiesel), by End Use (Food & Beverage, Pharmaceutical), by Type (Refined, Crude).
Glycerol Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Glycerol Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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