Vegetable Glycerin: Market outlook
Food industry drives on innovations owing to consumers changing taste preferences and demands. Development in global travel and tourism have played a significant part in the transformation of the global food industry. Application of food-grade vegetable glycerin as a natural thickener in the preparation of bakery and dairy products is popular worldwide. Its natural thickening property is also utilized in the processed food industry. Vegetable glycerin has become one of the popular additives in the food preparation owing to its properties of thickening and suspending agent. In addition, consumer preference for natural and plant-derived products is fueling the global vegetable glycerin market. In the global food and beverage industry, the demand for vegetable glycerin is also increasing as a low-calorie sweetener alternative owing to its lower glycemic value than table sugar. Along with the food and beverage industry, the demand for vegetable glycerin is flourishing among pharmaceutical manufacturers and personal care manufacturers. In personal care, vegetable glycerin is used in various moisturizing skincare products. In the global vegetable glycerin market, North America and Europe hold the major share in production and consumption owing to the presence of major global players in the region. Unique promotional activities and strategies applied by manufacturers in these regions bring awareness among the manufacturers and consumers. With the increasing demand for vegetable glycerin in the various industrial sector is anticipated to propel the growth of vegetable glycerin market over the forecast period.
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Rising Demand for Vegetable Glycerin in Pharmaceutical and Nutraceutical Industry
Vegetable glycerin is extracted from various sources such as coconut oil, soy, and palm oil. Vegetable glycerin is extracted by heating of triglyceride-rich vegetable oil and it is colorless and odorless but sweet in taste. Vegetable glycerin market is growing at a robust growth rate in the food and beverage industry and also in personal care and cosmetic industry. In the global food and beverage industry, vegetable glycerin is used as a food additive to mix water and oil-based ingredients. It is also used in moistening and sweetening the final products. In the cosmetic industry, vegetable glycerin is used as a humectant as it gets easily absorbed in the skin. In addition, vegetable glycerin helps to heal minuscule cracks on the skin and help in retaining moisture into the skin. Vegetable glycerin is used in the manufacturing of moisturizers, lotions, creams, soaps and various other products. A plethora of cosmetic products are launched every year, which significantly propel the growth of vegetable glycerin market. In the pharmaceutical industry, vegetable glycerin is used to make ointments, creams, and other lubricants. Rising dermal issues among population bolstering the demand for vegetable glycerin, paving the way for the robust growth of the vegetable glycerin market in the coming future.
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Global Vegetable Glycerin: Market Segmentation
On the basis of grade, the global vegetable glycerin market can be segmented as:
- Food Grade
- Pharma Grade
- Industrial Grade
On the basis of source, the global vegetable glycerin market can be segmented as:
- Soy Oil
- Palm Oil
- Coconut Oil
On the basis of end-use, the global vegetable glycerin market can be segmented as:
- Food and Beverages
- Personal Care
Global Vegetable Glycerin: Key Players
Key players operating their business in global vegetable glycerin market are Dutch Glycerin Refinery (DGR), Avril Group, NOW Foods, Cargill Incorporated, Procter & Gamble, VVF L.L.C., Parchem fine & specialty chemicals, The Dow Chemical Company, Essential Depot, Inc. and others.
Opportunities for Market Participants:
Focus on physical and facial appearance leads to resilient demand for cosmetics, especially among teenagers and women, providing a good opportunity for the growth of vegetable glycerin market. On the other hand, increasing application of natural ingredients in nutraceutical to boost the athlete's endurance spurring good opportunity for vegetable glycerin market growth. Apart from all the above-mentioned factors, increasing awareness among manufacturers and consumers about the benefits and application of vegetable glycerin. Increasing awareness leads to an increase in the application of vegetable glycerin which provides a great opportunity for manufacturers to bring vegetable glycine in their production line to cater to increasing demand with utmost satisfaction.
The vegetable glycerin market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the Vegetable glycerin market, including but not limited to: regional markets grade, source and end use.
The study is a source of reliable data on:
- Vegetable glycerin market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The vegetable glycerin market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the vegetable glycerin market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Vegetable glycerin market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the vegetable glycerin market
- Recommendations to companies for strengthening their foothold in the vegetable glycerin market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.