Glycerol Market is to grow at a 7.23 % CAGR, with the United States leading the market through 2030

Glycerol Market is to grow at a 7.23 % CAGR, with the United States leading the market through 2030

The Global Glycerol Market is expected to reach USD 5.18 Bn by 2030. The Global Glycerol Market is driven by the rise in the number of individuals affected by rare diseases.

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Global Glycerol Market to Hit USD 5.18 Bn by 2030

The Global Glycerol Market was USD 3.16 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 7.23 % from 2023 to 2030, reaching USD 5.18 Bn by 2030. Demand for biodiesel and the rise in biofuel production, influenced by initiatives such as the European Union's push for renewable energy, generates a surplus of crude glycerol as a by-product of transesterification, thereby stimulating market expansion. Glycerol's significance extends to the beauty and personal care industry Glycerol's multifaceted applications extend to the food and beverage industry, where it serves as a sweetener, humectant, and stabilizer, responding to consumer preferences for natural and healthier ingredients. For instance, in the production of low-sugar confectionery and baked goods, glycerol acts as a sugar substitute, influencing market growth.

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Global Glycerol Market Segmentation

By Type: The global glycerol market is segmented by type into crude and refined glycerol. The oversupply of crude glycerol from the expanding biodiesel sector has driven innovations in its utilization. On the other hand, refined glycerol undergoes extensive purification for high-end applications in food, pharmaceuticals, and cosmetics. Its widespread use as a sweetener, humectant, and moisturizer, along with the growing demand for personal care and medical products, continues to boost the refined glycerol market.

By Source: Glycerol is primarily derived from biodiesel, fatty acids, fatty alcohols, and the soap. Fatty acid-derived glycerol, obtained from oil and fat hydrolysis, is used in detergents and industrial applications, benefiting from the rising demand for plant-based chemicals. The Soap Industry as a source of glycerol sees applications in skincare products and pharmaceuticals. The comparative analysis underscores the versatility of glycerol from various sources, catering to diverse industries and reflecting unique adoption trends based on its origin.

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Global Glycerol Market Regional Analysis

In North America, The North America glycerol market size was estimated at USD 1.13 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2033. The United States is a key contributor to this growth, with a rising focus on bio-based products and sustainable manufacturing. The expanding biodiesel sector also plays a crucial role in glycerol production, ensuring a steady supply for various industrial applications.

The European In Europe, the glycerol market is expected to grow at a steady compound annual growth rate (CAGR) due to increasing demand from the pharmaceutical, personal care, and food industries. Stringent regulations promoting the use of bio-based chemicals and the region's strong biodiesel production industry significantly contribute to glycerol availability. The rising adoption of natural ingredients in cosmetics and pharmaceuticals further supports market growth in the region.

APAC, Countries like China, India, and Indonesia are key contributors due to their large-scale biodiesel production, growing oleochemical industries, and rising consumer preference for natural and bio-based products. The expanding cosmetics sector, along with increasing applications in healthcare and processed foods, further fuels market growth. Additionally, government initiatives supporting renewable energy and sustainable raw materials contribute to the steady expansion of the glycerol market in APAC.

Global Glycerol Market Competitive Landscape

Archer-Daniels-Midland/Acquisition in São Paulo: On December 5, 2023, Archer-Daniels-Midland Company (ADM) acquired a São Paulo-based refined glycerin manufacturer, enhancing its capacity by approximately 400,000 metric tons per year.

Louis Dreyfus: On July 14, 2023, Louis Dreyfus Company announced the expansion of its refining complex in Lampung, Indonesia, as part of its strategic plans to diversify revenue through value-added products. This development includes the addition of glycerin refining capacity and edible oil packaging capabilities.

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Conclusion

Major industry players, including Archer-Daniels-Midland and Louis Dreyfus, are expanding production capacities through acquisitions and facility upgrades. Innovations in crude glycerol utilization and refined glycerol applications continue to drive market development.
Glycerol's versatility supports its demand across multiple sectors, including food & beverage, pharmaceuticals, personal care, and biofuels, where it functions as a sweetener, humectant, stabilizer, and moisturizer, aligning with consumer preferences for natural and sustainable products.
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