Glycerin Market size is Expected to Reach US$ 10.0 billion by 2021 | Emery Oleochemicals, IOI Oleochemicals, Godrej Industries, Wilmar International

Glycerin Market is rapidly expanding with glycerin continuing to witness high demand across personal care and cosmetic industries

Market Overview

Glycerin is an easy sugar polymer. It's a clear, colorless, sweet-smelling, viscous fluid that is equally as tasty and non-hazardous. Glycerin is often included in skincare products as a humectant and moisturizing agent. Due to the sugar-like nature of glycerin, it makes for a good emollient, which works well when dealing with dry, cracked, or chapped skin. In addition to working as a good moisturizer, glycerin helps to retain moisture in the deeper layers of the skin. Another property of glycerin that makes it useful as an ingredient to include in skincare products is the ability to create a humectant, that is, a substance that allows moisture to be held in the pores of the skin. A humectant allows water to be held tightly in the cells of the epidermis.

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Market Dynamics

Increasing use in personal care and cosmetic products is expected to drive growth of the global glycerin market during the forecast period. Glycerin is widely used across personal care and cosmetics industries as a fragrance ingredient, denaturant, oral care agent, hair conditioning agent, skin protectant, and skin conditioning agent. As a matter of fact, glycerin is used across around 125 baby products including shampoo, soaps, etc. With the rapid growth of the cosmetics industry, the demand for glycerin is expected to surge. For instance, in May 2021, Fenty Skin by Rhianna launched Butta Drop Whipped Oil Body Cream, featuring shea butter, glycerin, and baobab.
However, oversupply of glycerin, low profitability, and availability of alternatives are expected to restrain growth of the global glycerin market during the forecast period.

Impact of COVID-19

The global glycerin market witnessed a significant decline during the COVID-19 pandemic. Many countries implemented strict lockdown policies, in order to constrain the spread of the virus. This resulted in the temporary suspension across manufacturing sectors, rendering a dip in economic growth. Since such policies were adopted by a majority of countries, the global supply chain industry also witnessed a significant negative impact in 2020. However, the global glycerin market is expected to regain its traction with gradual relaxation in the COVID-19 regulations and rollout of vaccines.

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Key Takeaways

• The global glycerin market is expected to witness significant growth, exhibiting a CAGR of XX% over the forecast period. This is owing to increasing demand for biodiesel worldwide.

• Among regions, Asia Pacific is expected to witness significant growth in the global glycerin market during the forecast period. This is owing to changing lifestyle and rising female working population across the region.

• Europe is expected to register lucrative growth, owing to the presence of key companies in the cosmetic sector such as Johnson & Johnson, Olay, Dior, and more

• Key companies involved in the global glycerin market are Archer Daniels Midland Company, Biodex-SA, Cargill Incorporated, Emery Oleochemicals, Godrej Industries Limited, Thai Glycerine Co. Ltd, Munzer Bioindustrie GmbH, Wilmar International Ltd, and Dow.

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