The global food grade glycerin market size was estimated to be USD 3.3 billion in 2017 and is anticipated to grow at a CAGR of 6.1% from 2017 to 2021 valued at USD 4.2 billion in 2022. It is estimated that global food grade glycerin market will reach market value of USD 7.2 billion in 2032
According to the study, as consumers become health conscious, demand for organic grade food glycerin is acquiring immense popularity. Kosher and halal-certified food grade glycerin are becoming highly common, penetrating prospective markets.
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Key Takeaways
- Biodiesel glycerin to acquire major traction, soap-derived glycerin to remain lucrative
- Uptake across pharmaceutical and personal care industry to be more widespread
- Asia-Pacific to retain market lucrativeness, reaching a multi-billion dollar valuation
- Processed foods to register major glycerin application, owing to growing demand for clean-label foods
COVID-19 Impact Insights
The global food grade glycerin market experienced minor deceleration in the initial months of the pandemic, attributed to global shutdowns. However, growth eventually picked up pace with consumers switching over to consumption of instant foods which require preservatives.
Moreover, increasing production of hand sanitizers has spiked demand for glycerin, an important raw ingredient and a potential disinfectant. Recently, sales of make-your-own hand sanitizer kits containing glycerin have climbed across North America.
Competitive Landscape
Prominent players operating in the global food grade glycerin market include Wilmar International Ltd., Emery Oleochemicals, IOI Oleochemicals, Croda International PLC, P&G Chemicals, KAO Corporation, Avril Group, The DOW Chemical Company (Olin Corporation), Cremer Oleo GmbH & Co KG, PT Smart TBK and Vitusa Products Inc. among others.
The aforementioned players rely on strategic collaborations, acquisitions, mergers and product deployments to remain afloat. P&G Chemicals is a leading player in the global food grade glycerin market. Its portfolio includes the Star KPO Glycerin 96%, Superol KPO Glycerin USP/FCC/FP and Star NK Glycerin 96% among others.
In January 2020, the company acquired Billie, a subscription service for shaving and body care products for women. In September 2020, Emery Oleochemicals announced the launch of EMERY® E Fatty Acid Esters Product Line, which offer colour stability, low odour and good biodegradability.
Key Segments
Source
- Vegetable Oils
- Biodiesel
- Soap
- Others (Synthetic, etc.)
End-Use
- Bakery
- Confectionery
- Beverages
- Dairy Products
- Processed Foods
- Others
Region
- North America (U.S & Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru & Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Russia & Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Singapore & Rest of South Asia)
- East Asia (China, Japan & South Korea)
- Oceania (Australia & New Zealand)
- Middle East and Africa (GCC, South Africa, Turkey, Iran, Israel & Rest of MEA)
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Key Questions Answered in the Report
How will the food grade glycerin market grow until 2030?
According to Future Market Insights (FMI), the global food grade glycerin market is expected to soar at a positive CAGR, reaching a multi-billion dollar valuation throughout the 2020-2030 forecast period. In spite of COVID-19 induced slowdown, the market is set to remain largely positive
What drives the global food grade glycerin market?
Heightening applications across the pharmaceuticals and personal care industry is providing maximum traction to the global food grade glycerin market. Growing purchases of lotions, creams and moisturizers is driving growth
Which is the largest market for food grade glycerin?
Asia Pacific is likely to emerge as the most lucrative food grade glycerin market, with India & China pivoting growth in the future. Heightening disposable incomes combined with deep penetration of the personal care industry is expected to steer growth in a positive direction
Which are the prominent food grade glycerin market players?
Prominent players operating in the global food grade glycerin market include Wilmar International Ltd., Emery Oleochemicals, IOI Oleochemicals, Croda International PLC, P&G Chemicals, KAO Corporation, Avril Group, The DOW Chemical Company (Olin Corporation), Cremer Oleo GmbH & Co KG, PT Smart TBK and Vitusa Products Inc. among others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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