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Glycerol Market to accrue considerable returns from food & beverage applications by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-03 

As per a recent industry report put forward by Global Market Insights Inc., Glycerol Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 5 billion by 2024 with a projected CAGR of 11.9% over 2018-2024.

Surging demand for biofuels owing to rising influence on low VOC content fuels and minimizing emission has led to growth in demand for biodiesel, thus increasing its production which is likely to drive glycerol market. It is primarily obtained from the transesterification process as a byproduct during biodiesel production. Moreover, biodiesel is considered as a cost effective source for commercial production which may act as another contributing factor towards industry growth.

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U.S. glycerol industry from personal care application is anticipated to reach 250 kilo tons by 2024. It has wide application in varied cosmetic formulations including skin care creams, moisturizers, hair conditioners, shampoos owing to its hygroscopic properties, nontoxic & multifunctional nature which may propel industry growth. Moreover, glycerin helps in retaining skin moisture, treat dry skin, maintaining skin water balance and enhances skin appearance.

UK glycerol market from food & beverage application may observe gains at up to 6% by 2024. It is used as a food additive which acts as a humectant , solvent and natural sweetener along with its ability to add bulk and texture to the products, thus promoting industry growth. Glycerin taste sweet but does not metabolizes sugar in the body which makes it suitable for diabetic and low carb dieters. Growing awareness towards health management along with rising occurrence of diabetes will propel product demand.

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Accessibility of potential alternatives including diethyl glycol and ceramides may challenge industry profitability. In addition, vegetable oil serves as a key raw material to produce fatty acids and biodiesel for glycerin production. Scarcity of raw material supply owing to its application in other industries such as chemical processing, food and paints & coatings may affect glycerol market price trends. However, supporting regulatory policies by FDA regarding GRAS approval of glycerol will have positive effect on product demand.

Refined glycerol market size is poised to surpass USD 4.5 billion by 2024. Technological advancements in glycerin purification techniques which is a cost effective, flexible product  and also helps in minimizing energy consumption will favor industry growth. Increasing application range in pharmaceutical, food & beverage, personal  and home care industries will have positive impact on product demand.

India glycerol market size from pharmaceutical application may register gains close to 6% by 2024. High investments in research along with evolving regulatory norms has led to development of novel products and ingredients, thus driving pharmaceutical industry which may stimulate industry demand. Glycerin is widely used in ear drops, eyewash solutions, cough syrups and lozenges thus propelling industry growth.

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France glycerol market size may witness robust growth with gains over 6% by 2024. Easy availability of glycerin to incorporate in cosmetic formulations will favor regional product demand. It retains the skin natural moisturizing factor which makes its suitable for anti- ageing products. Availability of international brands along with increasing product innovation is estimated to accelerate personal care market growth, which may further boost glycerol demand.

Global glycerol market share is competitive and slightly fragmented with key industry participants including Wilmar International, BASF, Solvay SA, P&G Chemicals, ADM, DOW Chemicals, and Godrej Industries. Companies are examining novel applications for crude glycerin supported by development of low-cost purification techniques to produce refined product will propel industry growth.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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