Glycerol Market Growth Accelerated By Increasing Application In Personal Care Products
Glycerol or glycerin is a unique derivative of vegetable and animal fats and oils, which finds wide application in personal care products owing to its moisturizing and humectant properties. Glycerol acts as an emollient in various skin care products, helping retain moisture and providing a smoothing effect to the skin. It is commonly used in products such as soaps, creams, lotions, and other cosmetic products.
The global Glycerol Market is estimated to be valued at Us$ 3.63 Bn in 2024 and is expected to exhibit a CAGR Of 10% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for glycerol from the personal care industry remains one of the key factors influencing growth of the glycerol market. Glycerol aids in improving the texture and increases the viscosity of personal care products. It also enhances the shelf life of cosmetic formulations. Moreover, glycerol is widely used in manufacturing soaps and body washes owing to its ability to impart a better lathering effect. These versatile properties have increased preference for glycerol among personal care product manufacturers. Additionally, growing consciousness regarding one's personal appearance and improved spending capacity on personal care products is expected to drive the consumption of glycerol over the forecast period.
Segment Analysis
The global glycerol market is segmented by source, grade, application and end use industry. By source, the vegetable oils segment is expected to dominate the market over the forecast period. This is because vegetable oils like soybean, palm and coconut are economical sources for commercial production of glycerol.
Key Takeaways
The Global Glycerol Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market is estimated to reach a value of US$ 3.63 Bn by 2024.
Regional analysis:
Asia Pacific is projected to witness fastest growth in the glycerol market during the forecast period. This can be attributed to rapid growth of personal care & pharmaceutical industries in China, India and other developing nations in the region. The region is also a major producer and consumer of vegetable oils globally.
Key players operating in the glycerol market are QIAGEN, Dicerna Pharmaceuticals Inc., Phio Pharmaceuticals Corp., Arcturus Therapeutics, Ionis Pharmaceuticals Inc., Sigma Aldrich (Merck KGaA), Benitec Biopharma Ltd., Silence Therapeutics PLC, SBI Biotech Co. Ltd., Alnylam Pharmaceuticals Inc., and Thermo Fisher Scientific Inc.
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