by Glycerol or glycerin is widely used as a humectant in personal care products like soaps, shampoos, creams, lotions and other skincare products to retain moisture in skin and hair. It helps restore hydration, smoothness and protect the skin from environmental damage.
The global glycerol market is estimated to be valued at US$ 3.15 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the personal care industry is one of the major factors driving the growth of the glycerol market. Glycerol is used extensively in personal care products due to its moisture retaining and soothing properties. It helps hydrate and soften the skin and hair. Rising health awareness among consumers has increased the demand for natural and plant-based personal care products. Glycerol derives from vegetable oils and is considered a good alternative to synthetic ingredients. Therefore, the expanding personal care and cosmetics industry especially in emerging nations of Asia Pacific and Latin America is estimated to provide opportunities for glycerol manufacturers over the forecast period.
SWOT Analysis
Strength: Glycerol is widely used in pharmaceuticals, personal care, food and many other industries which drives consistent demand.
Weakness: Volatility in raw material prices especially vegetable oils and fats affects the profitability.
Opportunity: Increasing demand for bio-based and sustainable chemicals offer new opportunities.Cosmetic and personal care segment is expected to grow fastest due to rising income levels.
Threats: Stringent regulations over biodiesel production may impact supply. Dependence on limited raw material sources is a concern.
Key Takeaways
The Global Glycerol Market Scope is expected to witness high growth during the forecast period of 2023 to 2030. Regional analysis comprisesAsia Pacific dominates the global glycerol market owing to strong demand from soap, detergent and oleochemical industries in China and India. The region is expected to continue its dominance in the coming years too led by growth in personal care and food processing industries.
Key players operating in the glycerol market are dbWatch AS, eG Innovations, Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Quest Software Inc., Red Gate Software Ltd., Sematext Group, SolarWinds Worldwide, LLC, and VirtualMetric. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. The glycerol market is characterized by established suppliers focused on research and development to introduce new grades of glycerol for various applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
