Global Food-grade Glycerin Market is anticipated to cross a worth of US$ 498 Million by 2033 end, at a decent CAGR of 2%, estimates Future Market Insights, Inc.
Food-grade Glycerin Market is Growing Due to Increased Awareness Around Glycerin's Usage in Food and Beverages Industry | FMI Taps a CAGR of 2.0% for 2023 to 2033. India leads the South Asian Food-grade Glycerin Market with a CAGR of 6.8% between 2023 and 2033. The United Kingdom’s market for food-grade glycerin thrives on a CAGR of 4.1% between 2023 and 2033.
NEWARK, Del, March 27, 2023 (GLOBE NEWSWIRE) -- The food-grade glycerin market is anticipated to expand its roots at an average CAGR of 2.0% between 2023 and 2033. The market is anticipated to cross a market share of US$ 498 million by 2033 while it is likely to be valued at US$ 389 million in 2023.
Apart from the skincare benefits of glycerin, food-grade glycerin is helpful in moisturizing and preserving food items.
Using glycerin in food can also help patients that have constipation and other digestion-related diseases. Furthermore, the growing awareness around its health benefits is pushing end users to use glycerin in different food processing operations.
The medicinal aspect of food-grade glycerin includes its usage in heart medication. For example, nitroglycerin sublingual tablets are being used in treating episodes of angina (chest pain) in people who have coronary artery disease. It narrows the blood vessels that supply blood to the heart.
Food-grade glycerin is also used in the production of toothpaste, soaps, and other consumer products while fueling the demand for food-grade glycerin.
Food glycerin’s usage as a sweetening and moisturizing agent is increasing its consumption through the food and beverages end-user segment.
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The United States held 13.4% of the market share in 2022. The growth is attributed to the increased awareness of food-grade glycerin usage. Alongside, the expansion of the food and beverage business is garnering the regional growth
India, on the other hand, holds tons of opportunities as it thrives at a CAGR of 6.8% between 2023 and 2033. Higher consumption, production, and various applications are fueling its growth. Its use in sweets and confectionery products is also increasing its sales in the country.
The United Kingdom thrives on a CAGR of 4.1% between 2023 and 2033. The growth is attributed to the restoration of FMCG businesses. Furthermore, the expansion e-commerce business has given an opportunity for the vendors to extend their sales channel in the region.
The competitors are focusing on producing organic, balanced, and food-friendly glycerin. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
The key players in the market are Wilmar International Ltd., Emery Oleochemicals, IOI Oleochemicals, Croda International PLC, P&G Chemicals, KAO Corporation, Avril Group, The DOW Chemical Company (Olin Corporation), Cremer Oleo GmbH & Co KG, PT Smart TBK, Vitusa Products Inc., PT Bakrie Sumatera Plantations TBK, Twin Rivers Technologies Inc., Pacific Oleochemicals Sdn Bhd, and Sakamoto Yakuhin Kogyo Co Ltd.
Recent Market Developments
PT Bakrie Sumatera Plantations TBK has introduced its food-grade glycerin that is formed through renewable sources of vegetable oil and animal fat. The company has produced both: food and non-food glycerin.
Sakamoto Yakuhin Kogyo Co Ltd. launched organic and natural glycerin for different applications. These applications involve food additives, films, polyurethane, alkyd resins, and toothpaste.
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Others (Synthetic, etc.)
Key Regions Covered:
Asia Pacific Excluding Japan
The Middle East and Africa
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Table of Content
1. Executive Summary | Food-grade Glycerin Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
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About Future Market Insights, Inc.
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