BANGALORE, India, May 6, 2022 /PRNewswire/ -- Glycerine Market is Segmented by Type - Crude, Refined, by Application - Cosmetics and Personal Care, Food, Tobacco, Polyurethane, Pharmaceutical, Alkyd Resins. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.
Glycerine Market size is estimated to be worth USD 2552 million in 2022 and is forecast to be a readjusted size of USD 3518.8 million by 2028 with a CAGR of 5.5% during the review period.
Major factors driving the growth of Glycerine Market are
Glycerine Market growth is expected to be driven by an increase in demand for natural ingredients in cosmetics and personal care among individuals, as well as an increase in glycerine production in the pharmaceutical industry and an increase in production in the food and beverage industry.
In addition, increased biodiesel production is expected to fuel the glycerin market demand. Furthermore, the Glycerine market is expected to be driven by an increase in the use of glycerin as an alcohol substitute in herbal and botanical tincture preparation, chemical manufacturing, home care, and other specialty applications with other oleochemicals such as fatty alcohols, fatty acids, and esters.
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TRENDS INFLUENCING THE GROWTH OF GLYCERINE MARKET
Increasing demand for Cosmetics and Personal Care is expected to propel the growth of the glycerin market. Glycerol is found in many personal care products, such as toothpaste, hair conditioners, cosmetics, and moisturizers. It's used in skincare products to protect the skin from irritation. It can also help to keep skin smooth by bringing moisture to the skin's surface. For the same reason, it's added to hair conditioners, shaving creams, and eye drops. To keep toothpaste from drying out, it contains vegetable glycerin. As a humectant, it's commonly used in liquid soaps and lotions. Glycerol is used as a humectant, solvent, and lubricant in cosmetics.
Glycerol is a common pharmaceutical ingredient that improves the smoothness and taste of medications. Cough syrups contain glycerol to help prevent throat irritation, which causes coughing. It's also used to make it easier to swallow tablets. Thus the growing use of glycerine in the Pharmaceutical Industry is expected to drive the growth of the glycerin market.
The rising demand for glycerine in Food & Beverage Industry is expected to fuel the glycerin market during the forecast period. Glycerin is used in a variety of food and beverage products to add smoothness, bulk, and sweetness as well as to help retain moisture. Flavors and food colors are dissolved in glycerol. It's also used as a sweetener and as a humectant to keep food moist. Low-fat food products also use glycerol as a sweetener.
The COVID-19 pandemic had a positive overall impact on key players in the pharmaceutical glycerin market. The demand for glycerin has increased as it is used in the production of hand sanitizers, soaps, hand washes, and detergents. Sanitizers have been recommended as an effective tool in the fight against the spread of the coronavirus around the world. In order to make hand rubs, glycerol is used in small amounts. During the pandemic, the World Health Organization recommended combining glycerol with hydrogen peroxide, ethanol, and other chemicals in hand sanitizers, as well as NBSP. As a result of the COVID-19 pandemic, demand for glycerin in hand sanitizer production has increased.
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GLYCERINE MARKET SHARE ANALYSIS
Based on type, Refined glycerol is expected to be the most lucrative segment. It is the preferred choice because of its use in the cosmetics, pharmaceuticals, and food industries. Crude glycerol is used in a variety of applications, including the preparation of animal feed, where it is used to replace corn.
Based on application, the cosmetics and personal care sector is expected to be the most lucrative. Glycerin can be found in a wide range of products, including shampoos, moisturizers, hair conditioners, and toothpaste. It's also a component of eye drops. It is used as an additive in the food industry and is considered safe.
Based on region, Asia-Pacific is expected to be the most lucrative region. China is one of the world's largest glycerin consumers. Cosmetics and personal care are one of the country's fastest-growing industries. Makeup, skincare, haircare, personal hygiene, and fragrances are just a few of the industries covered.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key Companies:
- P and G Chemicals
- Oleon
- KLK OLEO
- Emery Oleochemicals
- IOI Oleochemicals
- Musim MAS
- Dow Chemical
- Wilmar International
- Pacific Oleochemicals Sdn
- Vance Bioenergy
- Cargill
- PT SOCI MAS
- Vantage Oleochemicals
- Godrej Industries
- Hangzhou Oleochemicals
- Qingyuan Futai
- Cambridge Olein
- Shuangma Chemical
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SIMILAR REPORTS:
- The global Organic Personal Care Products Market size is estimated to be worth USD 13670 million in 2022 and is forecast to be a readjusted size of USD 18640 million by 2028 with a CAGR of 5.3% during the review period.
- The global Vegan Cosmetics Market size is projected to reach USD 21780 million by 2028, from USD 15960 million in 2021, at a CAGR of 4.5% during 2022-2028.
- The global Cosmetics Market size was valued at USD 380.2 billion in 2019 and is projected to reach USD 463.5 billion by 2027, registering a CAGR of 5.3% from 2021 to 2027.
- The global Feminine Hygiene Products Market size is projected to reach USD 41860 million by 2027, from USD 31960 million in 2020, at a CAGR of 4.6% during 2021-2027.
- The global Cruelty-Free Cosmetics Market size is estimated to be worth USD 6479.2 million in 2022 and is forecast to be a readjusted size of USD 7919.4 million by 2028 with a CAGR of 3.4% during the review period.
- The global Food Glycerine Market was valued at USD 635 million in 2020 and it is expected to reach USD 899.2 million by the end of 2027, growing at a CAGR of 5.0% during 2021-2027.
- The global Perfume Market size is estimated to be worth USD 43420 million in 2022 and is forecast to be a readjusted size of USD 70830 million by 2028 with a CAGR of 8.5% during the review period.
- The global Consumer Skin Care Devices Market size is estimated to be worth USD 51380 million in 2022 and is forecast to a readjusted size of USD 149630 million by 2028 with a CAGR of 19.5% during the review period.
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