by The glycerol market is used in a variety of applications ranging from pharmaceuticals, personal care and food and beverages owing to its emollient and humectant properties. Glycerol helps retain moisture and improves the feel and texture of products. It is also used as a sweetener and preservative in food products due to its soothing and thickening qualities. Glycerol serves as an intermediate for manufacturing various chemicals and is also utilized as a carrier medium for drug delivery systems in pharmaceuticals.
The Global Glycerol Market Share is estimated to be valued at US$ 3.63 Billion in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the glycerol market are QIAGEN, Dicerna Pharmaceuticals Inc., Phio Pharmaceuticals Corp., Arcturus Therapeutics, Ionis Pharmaceuticals Inc., Sigma Aldrich (Merck KGaA), Benitec Biopharma Ltd., Silence Therapeutics PLC, SBI Biotech Co. Ltd., Alnylam Pharmaceuticals Inc., and Thermo Fisher Scientific Inc. Growing demand from personal care sector has propelled the glycerol market growth. Its extensive application in cosmetic creams, lotions, soaps and other personal hygiene products has augmented the market size. Further, increased per capita expenditure on personal care is also fueling the glycerol consumption.
The global glycerol market is expanding rapidly driven by burgeoning demand from the Asia Pacific region. China represents largest producer and consumer of glycerol owing to proliferating personal care and food processing industries in the country. Other Asian countries like India and Indonesia are also emerging as prominent markets attributed to changing lifestyles, rising living standards and growing health awareness.
Market key trends
One of the key trends witnessed is the increasing usage of plant-based and synthetic glycerol. Consumers preference for natural and sustainable products has prompted manufacturers to develop plant-derived glycerol from palm oil, soybean oil and coconut oil. Further, technological advancements have enabled production of glycerol through fermentation of renewable feedstock and by synthetic routes which is boosting the supply levels. These plant-based and synthetic sources help address the challenges related to limited availability of crude glycerol obtained as a biodiesel byproduct.
Porter’s Analysis
Threat of new entrants: Medium barrier as capital requirement is moderate for small manufacturers but large companies have advantages.
Bargaining power of buyers: Low as glycerol has few substitute products and buyers have less influence on prices.
Bargaining power of suppliers: Medium because suppliers are fragmented but commoditized raw materials keep prices stable.
Threat of new substitutes: Low as glycerol is unique product with specific functionality in various industries like personal care, food etc.
Competitive rivalry: High as market is growing and attracting new players annually leading to price wars.
Geographical Regions
North America accounts for the largest share of glycerol market due to high demand from personal care, food and beverage industries in the region. USA alone contributes over 30% of global glycerol consumption.
Asia Pacific region is poised to be the fastest growing regional market on back of growing population, increasing disposable incomes and rapid development of personal care industries in countries like China and India. Steady expansion of pharmaceutical industry in China and India is also driving glycerol consumption in Asia Pacific.
