The global vegetable glycerin market is experiencing unprecedented growth, fueled by the burgeoning demand for natural and sustainable products across various industries. As consumers increasingly prioritize health and wellness, the market for vegetable glycerin, a versatile and environmentally friendly ingredient, continues to expand rapidly.
Future Market Insights’ research indicates that over the projected period, the vegetable glycerin market is expected to grow at a compound annual growth rate (CAGR) of 5.3%. The industry is expected to increase in value from US$ 1,306.6 million in 2022 to US$ 2,190.0 million in 2032. The market for vegetable glycerin was estimated to be worth US$ 1,245.6 million at the end of 2021.
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Key Trends Driving Market Growth:
- Rise in Consumer Awareness: Heightened awareness regarding the adverse effects of synthetic chemicals has led consumers to seek out natural alternatives. Vegetable glycerin, derived from plant-based sources such as soy, palm, or coconut oil, has emerged as a preferred choice due to its organic nature and minimal environmental impact.
- Growing Demand in Food and Beverage Industry: The food and beverage industry is witnessing a surge in demand for healthier and cleaner label products. Vegetable glycerin serves as a natural sweetener, humectant, and solvent, making it an ideal ingredient for a wide range of food and beverage applications, including confectionery, bakery, dairy, and beverages.
- Expansion of Personal Care and Cosmetics Sector: With the rising trend towards natural and organic skincare and personal care products, vegetable glycerin has found extensive usage as a moisturizing agent and emollient in creams, lotions, soaps, and cosmetics. Its ability to attract and retain moisture makes it a sought-after ingredient in the formulation of skin-friendly products.
- Increasing Applications in Pharmaceuticals: Vegetable glycerin’s non-toxic nature and solubility in both water and alcohol have positioned it as a preferred choice in the pharmaceutical industry. It is widely utilized in cough syrups, expectorants, pharmaceutical formulations, and as a carrier in herbal extracts and tinctures.
- Surge in E-cigarette and Vaping Products: The popularity of e-cigarettes and vaping products has soared in recent years, driving demand for vegetable glycerin as a primary component of e-liquids. Its ability to produce vapor, coupled with its non-toxic and odorless properties, has made it indispensable in the vaping industry.
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Global Vegetable Glycerin Market: Key players
Some of the key players operating in global vegetable glycerin market are Procter & Gamble, NOW Foods, VVF L.L.C., Cargill, Incorporated, Dutch Glycerin Refinery (DGR), The Dow Chemical Company, Parchem fine & specialty chemicals , Avril Group, Essential Depot, Inc. among others.
The Report covers exhaustive analysis on
- Global Vegetable Glycerin Market Segments
- Market Dynamics of Global Vegetable Glycerin Market
- Historical Actual Market Size, 2013-2015 for Global Vegetable Glycerin Market
- Global Vegetable Glycerin Market Size & Forecast 2016 to 2026
- Value Chain
- Global Vegetable Glycerin Market Current Trends/Issues/Challenges
- Competition and Companies involved in Global Vegetable Glycerin Market
- Global Vegetable Glycerin Market Drivers and Restraints
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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