The food-grade glycerin market is likely to capture a lower CAGR of 2.0% during the forecast period. The market is anticipated to hold a revenue of USD 389 million in 2023 while it is anticipated to cross a value of USD 498 million by 2033.
The research report on the food-grade glycerin market states that the long range of beverages, cake icing, nutrition & energy bars, chewing gum, condiments, creams, diet foods, and dried fruits. The medicinal benefits of food-grade glycerine include the reduction of constipation, a boost in hydration, and athletic performance. The rising trend over biodiesel fuels is expected to market products such as vegetable oils used as cooking oil etc. New glycerin products like coconut glycerin food-grade, a glycerin food additive is garnering market growth. It further creates higher amounts of food-grade glycerine. The restoration of the food industry along with the increased per capita income of end users in European and Asian economies. Furthermore, the advanced properties and the growing awareness around glycerine's usage as a sweetening and moistening agent are garnering market growth. The advent of food-grade vegetable glycerin is also in trend and gaining traction in the market.
Food-grade liquid glycerin is used as the basic ingredient in heart medication, pharmaceuticals, and others. Even, toothpaste has some amount of glycerin in it as it prevents the toothpaste from hardening and drying. Furthermore, it is used in personal products such as soaps, candles, lotions, and makeup products. This diverse and long range of applications is likely to fuel the demand for food-grade glycerin across the region. Lately, consumers switched to ready-to-eat foods that needed preservatives, and growth eventually accelerated. In addition, the increased production of hand sanitizers has increased demand for organic food-grade glycerin, an important raw material, and potential disinfectant. Recently, sales of self-made hand sanitizer kits containing glycerin have increased dramatically.
The food-grade glycerin market outlook explains that glycerin and its products have recently gained popularity. Glycerin has been used in the food industry for many years, but its popularity is increasing due to its perceived health benefits. Some people believe that glycerin can help lower blood sugar levels, improve heart health, and promote weight loss. However, there is no scientific evidence to support these claims.
Despite its lack of scientific evidence, glycerine's popularity continues to increase due to its perceived health benefits and its low cost.
| Attributes | Details |
|---|---|
| Food-grade Glycerin Market CAGR (2023 to 2033) | 2.0% |
| Food-grade Glycerin Market Size (2023) | USD 389 million |
| Food-grade Glycerin Market Size (2033) | USD 498 million |
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Short-term Growth (2023 to 2026): Glycerin is a colorless, odorless, and syrupy liquid that is widely used in the food industry. It is often used as a sweetener and thickener, and it can also help to preserve foods. In addition, glycerin can be used as a solvent or preservative in many different types of food products. Therefore, the market is expected to hold USD 389 million in 2023 while it is anticipated to reach USD 412.81 million by 2026.
Mid-term Growth (2026 to 2029): This period is likely to witness growth through experimentation. Several companies have launched new food products that contain glycerin. For example, Nestle has announced the launch of a new line of ice cream bars that contain glycerin. The bars are designed to help keep the ice cream cold for longer periods, which should make them more appealing to consumers. From USD 412.81 million in 2026, the market is expected to land at a value of USD 423.64 million in 2029.
Long-term Growth (2029 to 2033): The use of glycerin in food products has increased in recent years due to its growth potential. This growth is being driven by the increasing demand for healthier foods and the growing popularity of functional foods and beverages. Thus, the market is anticipated to thrive at a steady CAGR of 2.0% between 2023 and 2033.
Organic food-grade glycerin is gaining attention due to the growing awareness of the benefits of consuming natural products. By 2019, more than two-fifths of Western European consumers have admitted that organic foods are much healthier than they were 31% before 2017.
As a result, glycerin from vegetable oils is becoming more and more popular. Vegetable glycerin is also an effective alternative to table sugar due to its relatively low-calorie content. In addition, Kosher and Halal grade glycerin is also a popular choice for people. These trends help shape the future of organic food-grade glycerin.
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Nearly 70% of global crude glycerin is derived from biodiesel industries. More than 75 countries today have a biodiesel glycerin production mandate. Indonesia, for instance, has a B30 mandate, meaning 30% of their diesel fuel must be bio-based. Such trends also tie in with the global sustainability agenda.
For every 100 pounds of biodiesel produced, nearly 10 pounds of crude glycerol is created. This high volume of biodiesel production is expected to provide a significant boost to the food-grade glycerin market.
| Regions | CAGR (2023 to 2033) |
|---|---|
| China | 6.0% |
| India | 6.8% |
| United Kingdom | 4.1% |
Varied Application, Cheaper Rates, and Growing Awareness about its Medicinal Benefits fuels the Market Growth
| United States Market Value Share (2022) | 13.4% |
|---|
As per FMI’s analysis, the United States food-grade glycerin market held a market value share of 13.4% in 2022. The growth is attributed to the expanding food and beverage industry. Alongside, this experimentation regarding food choices in helping enhance and preserve the flavor. It helps in retaining moisture and preventing sugar crystallization while adding smoothness, softness, texture, and sweetness. Furthermore, the expanding cosmetic business also fuels the demand for food-grade glycerin.
The advent of Bio Oils as an Alternative makes way for Food-grade Glycerin Production
| India Market CAGR (2023 to 2033) | 6.8% |
|---|
Demand in India is expected to rise at a CAGR of 6.8% over the forecast period. India is probably the second most profitable market due to the increasing use of cosmetics and personal care products. A good business environment, backed by affordable labor and raw material costs, attracts many food-grade glycerin manufacturers throughout the Asia Pacific region. Key players, including P & G, Indus Chemicals, and Solvay, have strongly conquered the Asian market. Indus Chemicals is India's leading distributor of glycerin, producing variants of Moon K and Superol glycerin.
| United Kingdom Market CAGR (2023 to 2033) | 4.1% |
|---|
The United Kingdom’s market thrives on a CAGR of 4.1% between 2023 and 2033. It is one of the profitable markets in the nation thanks to the growing health, personal care, food and beverage, and pharmaceutical industries. Increased production of glycerol to epichlorohydrin is expected to have a significant impact on the country’s future growth.
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The global glycerin market is categorized into vegetable oils, biodiesel, soaps, synthetic oils, and more. The growing interest in biodiesel fuels made from renewable vegetable oils used in cooking oils and beef tallow is producing huge amounts of food-grade glycerin.
Menthol is added to the oil source to make biodiesel. The fatty acid portion of the molecule is esterified to biodiesel, producing glycerin as a by-product. Raw glycerin is distilled and purified with an ion exchange resin to a possible purity of 99.5 percent. The manufactured glycerin is suitable for food, personal care, cosmetics, pharmaceuticals, and other special applications.
Food-grade Glycerin vendors are focusing on effective saturation and clean-label products. The food-grade glycerin for specific applications is another factor that the competitors focus on. Furthermore, the key players merge, collaborate, and acquire companies.
Market Developments
The primary consumer for food-grade glycerin is the food and beverage industry.
The key players are Cargill,Archer Daniels Midland,and Wilmar International.
The market is estimated to secure a valuation of USD 389 million in 2023.
The food-grade glycerin market is estimated to reach USD 498 million by 2033.
The personal care and cosmetics sector holds high revenue potential in the market.
1. Executive Summary | Food-grade Glycerin Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Vegetable Oils 5.2. Biodiesel 5.3. Soap 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Bakery 6.2. Confectionery 6.3. Beverages 6.4. Dairy Products 6.5. Processed Foods 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Wilmar International Ltd. 15.2. Emery Oleochemicals 15.3. IOI Oleochemicals 15.4. Croda International PLC 15.5. P&G Chemicals 15.6. KAO Corporation 15.7. Avril Group 15.8. Cremer Oleo GmbH & Co KG 15.9. Vitusa Products Inc. 15.10. Sakamoto Yakuhin Kogyo Co Ltd 16. Assumptions & Acronyms Used 17. Research Methodology
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Food-grade Glycerin Market
