The glycerol market has witnessed significant growth over the past few years due to increasing application of glycerol in various end use industries such as pharmaceuticals, personal care & cosmetics, food & beverage, and others. Glycerol acts as an humectant, solvent and thickening agent and finds wide application in drugs, ointments, lotions, soaps, toothpastes and other products. It helps retain moisture, control texture and acts as sweetener in several confectionery and beverage products.
The global Glycerol Market is estimated to be valued at Us$ 3.63 Bn in 2024 and is expected to exhibit a CAGR Of 10% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The use of glycerol has witnessed a strong surge in the pharmaceutical industry over the past few years. Glycerol is widely used as an excipient in medicine formulations to increase bioavailability and improve texture, viscosity and stability. It is commonly used as a carrier/solvent for active pharmaceutical compounds. Additionally, rising glycerol demand from skin & hair care products is also propelling the market growth. Glycerol acts as a humectant when added to soaps, lotions and creams to retain moisture on skin surface and prevent itching and flaking. It also helps to retain moisture in hair and improve the texture and shine.
SWOT Analysis
Strength: Glycerol is used as a building block in many industrial and consumer applications. It is a natural product obtained during biodiesel production.
Weakness: Fluctuations in raw material prices can impact glycerol production costs. High dependency on limited raw material sources for its production.
Opportunity: Growing uses of glycerol in pharmaceutical, personal care and food industries offer new opportunities. Increasing biodiesel production is augmenting glycerol supply.
Threats: Stagnant growth of core end-use industries can lower glycerol demand. Development of substitutes threatens glycerol dominance in certain applications.
Key Takeaways
The Global Glycerol Market Demand is expected to witness high growth over the forecast period. Glycerol demand is increasing across various end-use segments including food & beverage, pharmaceutical, and personal care industries. It provides functional benefits as humectants, solvents, and soothing agents.
Regional analysis:
North America dominates the global glycerol market currently due to well-established personal care and pharmaceutical industries in the region. The market is projected to grow at a high rate in Asia Pacific driven by evolving industrial activities and rapidly expanding end-user industries in China and India.
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 companies are focusing on new product launches and capacity expansions to fulfill the growing glycerol demand.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
