May 27, 2024

The Global Glycerol Market Is Driven By Rapid Growth Of Personal Care Industry

Glycerol or glycerin is a colorless, odorless, and viscous liquid that primarily serves as a humectant and emollient in personal care products. It helps retain moisture in skin and hair by drawing water through the skin and into the upper epidermal layers. Glycerol is commonly found in creams, lotions, soaps, shampoos, and conditioners to leave hair and skin feeling hydrated and soft. It also boosts preservatives’ effectiveness in extending shelf life and stability of cosmetic formulations. The glycerol market continues to witness robust demand from the booming personal care sector that is witnessing increasing per capita consumption globally with rising living standards and health awareness.

The global Glycerol Market 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, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:

 

Rising preferences for natural and plant-derived ingredients in personal care products have led glycerol producers to increasingly manufacture it from vegetable oil sources like palm, coconut, soybean, and sunflower oils. Manufacturers also strategically market glycerol as a green and eco-friendly moisturizing ingredient which resonates well with consumers’ evolving priorities around sustainability. Furthermore, glycerol serves as an effective humectant and moisturizer in wipes that witnessed spike in demand amid COVID-19 outbreak. Going forward, expansion of vegan, natural cosmetic ranges should augment glycerol consumption in personal care segment.

 

Porter’s Analysis

Threat of new entrants: The glycerol market requires large capital investments for facilities and equipment, creating significant barriers for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many existing glycerol producers. However, production contracts allow long-term pricing stability.

Bargaining power of suppliers: A few major companies dominate global glycerol production, giving them strong bargaining power over buyers.

Threat of new substitutes: There are limited substitutes for glycerol in its main application areas like personal care products and food & beverage.

Competitive rivalry: The glycerol market is relatively consolidated with major global players competing.

Key Takeaways

The Global Glycerol Market Demand is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis shows that Asia Pacific currently dominates the market and is expected to continue to grow at the fastest pace due to increasing demand from personal care, food & beverage, and pharmaceutical industries in China, India, and other developing nations in the region.

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. These leading players are focused on expanding their production capacities and global footprint through mergers & acquisitions and strategic partnerships.

The glycerol market size was valued at US$ 3.63 billion in 2024 and is projected to reach over US$ 7 billion by 2031, indicating a promising growth outlook. Increased demand from personal care products like skin creams, food & beverage for confectionery products, and pharmaceuticals for drug manufacture and delivery are expected to drive market revenues over the forecast period.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it