Global Refined Glycerine Market Size By Product (Refined Glycerine 99.5%, Refined Glycerine 99.7%), By Application (Pharmaceuticals, Food And Beverages, Coating And Paints, Textiles, Cosmetics And Personal Care), By Geographic Scope And Forecast

Refined Glycerine Market Size And Forecast

Refined Glycerine Market size was valued at USD 2.04 Billion in 2023 and is projected to reach USD 2.96 Billion by 2031, growing at a CAGR of 5.25% from 2024 to 2031.

• Natural fats and oils are processed to produce refined glycerine which is a pure, clear liquid. It’s a common element in many ordinary products. Glycerine can be found in both animal fats and vegetable oils. When these fats and oils are treated, the glycerine is isolated and purified to remove contaminants. This makes it safe and appropriate for usage in a variety of industries.
• The food and beverage sector uses refined glycerine. It is commonly used as a sweetener, thickener, and preservative in a variety of food products. For example, it helps to keep baked goods, sweets, and icings moist and extends their shelf life. Refined glycerine is also used as a sugar alternative in low-calorie foods and beverages making it an important ingredient in diet and health-conscious products.
• Refined glycerine’s future applications include the food and beverage sector as well as biofuels. Glycerine is used in food and beverages as a sweetener, preservative, and humectant to assist items to retain moisture. It is widely used in baked products, candies, and beverages. The need for healthier, low-sugar, and natural food products is boosting demand for glycerine as a safer alternative to synthetic additives.

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Global Refined Glycerine Market Dynamics

The key market dynamics that are shaping the global Refined Glycerine Market include:

Key Market Drivers:

• Personal Care Products Demand: Demand for refined glycerine is driven mostly by its broad use in personal care and cosmetic goods. Glycerine is an important element in soaps, lotions, creams, and shampoos because of its moisturizing and hydrating characteristics. It helps to keep the skin’s moisture balance making it a common ingredient in skincare and haircare products. According to the American Chemistry Council, the worldwide personal care business is steadily expanding with an expected annual growth rate of 4.5%.
• Pharmaceutical Industry Growth: Another key driver is the expansion of the pharmaceutical industry. Refined glycerin is utilized in medication formulations as a solvent, humectant, and preservative. The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) predicts that the global pharmaceutical business would be worth USD 1.5 trillion by 2023. As the demand for drugs and healthcare items grows, so does the requirement for refined glycerin.
• Rising Biodiesel Production: The biodiesel industry’s expansion greatly boosts the Refined Glycerine Market. Glycerine is a byproduct of biodiesel production which converts vegetable oils or animal fats into biodiesel by transesterification. With rising environmental concerns and a push for alternative energy sources, biodiesel production is increasing. According to the International Energy Agency (IEA), global biodiesel output is predicted to increase by 5% annually.

Key Challenges:

• Quality Consistency and Purity Concerns: Refined glycerin is widely utilized in industries such as pharmaceuticals, cosmetics, food, and biodiesel production. However, one of the most difficult issues is maintaining consistency in quality and purity. Glycerine is frequently created as a byproduct in biodiesel synthesis, and its quality varies depending on the feedstock utilized and the manufacturing procedure.
• Regulatory and Compliance Issues: Navigating the complex regulatory landscape presents another important hurdle. Different nations have different rules on the manufacturing, labeling, and usage of refined glycerine. For example, the Food and Drug Administration (FDA) in the United States and the European Medicines Agency (EMA) in Europe have stringent requirements for the purity and quality of glycerine used in food and pharmaceutical products.
• Supply Chain Disruptions: Supply chain disruptions might affect the availability and pricing of refined glycerine. Glycerine is frequently generated from vegetable oils or animal fats, and variations in their supply can cause problems. Seasonal variations, crop failures, and changes in agricultural regulations can all have an impact on vegetable oil supplies. Similarly, changes in the meat processing industry may affect the supply of animal fats.

Key Trends:

• Rising Demand in the Personal Care Industry: One of the most significant trends in the refined glycerine industry is its increased use in personal care products. Many skincare and cosmetic products contain glycerine which helps to keep the skin hydrated and smooth. This is particularly significant in moisturizers, lotions, and creams. The global beauty and personal care business is rapidly expanding driven by customer desire for better and more effective products.
• Expansion in the Pharmaceutical Sector: Refined glycerine is becoming increasingly popular in the pharmaceutical business. It is employed as a solvent and sweetener in a variety of medicines, syrups, and ointments due to its safety and effectiveness. Glycerine is also utilized in the formulation of capsules and tablets. Increased healthcare requirements and advances in medical research are driving the pharmaceutical industry’s growth.
• Growth in the Food and Beverage Sector: Another notable development is the usage of refined glycerin in the food and beverage sector. Glycerine serves as a sweetener, preservative, and humectant which helps to keep meals moist. It is used in a wide range of products including baked goods, sweets, and beverages. As people become more health conscious, there is a greater need for natural and safe dietary ingredients.

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Global Refined Glycerine Market Regional Analysis

Here is a more detailed regional analysis of the global Refined Glycerine Market:

Asia Pacific:

• The Asia Pacific region dominates the global Refined Glycerine Market accounting for more than 30% in 2021. This dominance is fueled by rapidly rising glycerine use in nations like India, China, and South Korea particularly for personal care goods.
  The Asia Pacific region’s significant demand for glycerine is driven by the expanding personal care business, particularly in the hair care and oral care segments as well as rising demand from the color cosmetics sector.
• The region’s huge and growing population, rising disposable incomes, and fast urbanization have all contributed to an increase in demand for personal care products which has fueled the use of refined glycerine. The Asia Pacific region has easy access to raw materials and lower manufacturing prices than other regions of the world, making it an appealing hub for glycerine production. China, in particular, has emerged as one of the region’s largest producers and users of refined glycerine capitalizing on its abundant resources and cost-effective manufacturing capabilities to meet rising demand from a variety of end-use industries, including pharmaceuticals, food and beverage, cosmetics, and textiles.
• As a result, the Asia Pacific region is likely to maintain its dominance in the global Refined Glycerine Market throughout the forecast period driven by the continuous expansion of its personal care and industrial sectors.

Europe:

• Europe is the world’s largest customer of crude glycerine accounting for around 28% of total refined glycerine production each year. This high demand is linked to the region’s well-developed personal care, pharmaceutical, and industrial industries all of which require a lot of refined glycerin. For example, the European personal care industry alone will account for more than 30% of worldwide consumption in 2023.
• The strong demand for refined glycerine in Europe is driven by the region’s well-developed sectors particularly personal care, pharmaceuticals, and industrial uses. For example, in 2023, the European personal care market consumed more than 30% of global refined glycerine. Furthermore, the rising automobile sector in Europe which employs glycerine-based gasoline additives is driving up demand for refined glycerine. These considerations, together with Europe’s position as a major producer of crude glycerin from biodiesel production make the region an important player in the worldwide Refined Glycerine Market. 

Global Refined Glycerine Market: Segmentation Analysis

The Global Refined Glycerine Market is segmented on the basis of Product, Application, and Geography.

Refined Glycerine Market, By Product

• Refined Glycerine 99.5%
• Refined Glycerine 99.7%
• Others

Based on Product, The market is segmented into Refined Glycerine 99.5%, Refined Glycerine 99.7%, and Others. In the Global Refined Glycerine Market, Refined Glycerine 99.7% is the dominant product. This dominance is attributed to its higher purity making it more suitable for applications that require stringent quality standards. Industries such as pharmaceuticals, cosmetics, and food and beverages prefer Refined Glycerine 99.7% because its high purity ensures safety and efficacy in products. For example, in pharmaceuticals, it is used in formulations where impurities can affect drug stability and patient safety. Similarly, in cosmetics, the higher purity helps in creating products that are gentle and effective on the skin.

Refined Glycerine Market, By Application

• Pharmaceuticals
• Food & Beverages
• Coating & Paints
• Textiles
• Cosmetics & Personal Care
• Others

Based on Application, The market is segmented into Pharmaceuticals, Food & Beverages, Coating & Paints, Textiles, Cosmetics & Personal Care, and Others. In the global Refined Glycerine Market, the cosmetics & personal care segment is dominant. This dominance is driven by the high demand for glycerine’s moisturizing and skin-protective properties which make it a crucial ingredient in numerous skincare, haircare, and oral care products. The rising consumer awareness about personal hygiene and beauty coupled with increasing disposable incomes, particularly in developing regions boosts this segment’s growth. Additionally, the trend towards natural and organic products further amplifies the demand for refined glycerine in cosmetics.

Refined Glycerine Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, The Global Refined Glycerine Market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Among the geographical regions classified for the global Refined Glycerine Market, Asia Pacific stands out as the dominant region. This dominance is primarily driven by several factors. Countries like China, India, and South Korea within the Asia Pacific region have shown rapid industrialization and urbanization leading to increased consumption of glycerine in various industries such as personal care, pharmaceuticals, and food and beverage. Asia Pacific benefits from lower production costs and abundant access to raw materials compared to regions like North America and Europe. Thus, Asia Pacific maintains its dominance in the global market due to its expanding industrial base and substantial consumer demand across multiple sectors.

Key Players

The “Global Refined Glycerine Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are KLK OLEO, Emery Oleochemicals, Wilmar International, Godrej Industries, P&G Chemicals, Cargill, Kao Chemicals, Vance Bioenergy, Musim Mas, Cremer Oleo, Twin Rivers Technology, Jocil Limited, VVF LLC, Thai Glycerine Co., Ltd., Pacific Oleochemicals, Yangzhou Feiyang.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Refined Glycerine Market Key Developments

• In September 2021, AAK formed a cooperation with Nestle, the world’s largest food and beverage company, and the palm oil giant Musim Mas to combat deforestation outside of palm oil concession areas in Aceh, Indonesia. The five-year program will benefit around 1,000 independent smallholders. Aceh is a priority landscape because the province contains 87% of the Leuser Ecosystem, a protected region significant for biodiversity and carbon storage.
• In October 2021, Kao Corporation and KOSÉ Corporation have committed to collaborate extensively on cosmetics sustainability to create a sustainable society. In the future, both sides will pool their talents to collaborate in a wide variety of disciplines, including people, culture, and the environment, to find solutions in the cosmetics industry that may help the creation of a sustainable society.

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