It is expected that between 2023 and 2033, the food-grade glycerin market would grow at an average CAGR of 2.0%. The market is projected to reach a market share of US$ 498 million by 2033, but it is most likely to be valued at US$ 389 million in that year.
- Apart from the skincare benefits of glycerin, food-grade glycerin is helpful in moisturizing and preserving food items.
- Using glycerin in food can also help patients that have constipation and other digestion-related diseases. Furthermore, the growing awareness around its health benefits is pushing end users to use glycerin in different food processing operations.
- The medicinal aspect of food-grade glycerin includes its usage in heart medication. For example, nitroglycerin sublingual tablets are being used in treating episodes of angina (chest pain) in people who have coronary artery disease. It narrows the blood vessels that supply blood to the heart.
- Food-grade glycerin is also used in the production of toothpaste, soaps, and other consumer products while fueling the demand for food-grade glycerin.
- Food glycerin’s usage as a sweetening and moisturizing agent is increasing its consumption through the food and beverages end-user segment.
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Key Points
- The United States held 13.4% of the market share in 2022. The growth is attributed to the increased awareness of food-grade glycerin usage. Alongside, the expansion of the food and beverage business is garnering the regional growth
- India, on the other hand, holds tons of opportunities as it thrives at a CAGR of 6.8% between 2023 and 2033. Higher consumption, production, and various applications are fueling its growth. Its use in sweets and confectionery products is also increasing its sales in the country.
- The United Kingdom thrives on a CAGR of 4.1% between 2023 and 2033. The growth is attributed to the restoration of FMCG businesses. Furthermore, the expansion e-commerce business has given an opportunity for the vendors to extend their sales channel in the region.
Competitive Landscape
The competitors are focusing on producing organic, balanced, and food-friendly glycerin. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
The key players in the market are 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, Vitusa Products Inc., PT Bakrie Sumatera Plantations TBK, Twin Rivers Technologies Inc., Pacific Oleochemicals Sdn Bhd, and Sakamoto Yakuhin Kogyo Co Ltd.
Recent Market Developments
- PT Bakrie Sumatera Plantations TBK has introduced its food-grade glycerin that is formed through renewable sources of vegetable oil and animal fat. The company has produced both: food and non-food glycerin.
- Sakamoto Yakuhin Kogyo Co Ltd. launched organic and natural glycerin for different applications. These applications involve food additives, films, polyurethane, alkyd resins, and toothpaste.
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Market Segmentation
Source:
- Vegetable Oils
- Biodiesel
- Soap
- Others (Synthetic, etc.)
End Use:
- Bakery
- Confectionery
- Beverages
- Dairy Products
- Processed Foods
- Others
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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