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Refined Glycerin Market Segmented By Purified Glycerin Product in Pharmaceutical, Biocides, Food and Beverages, Coatings and paints, Cosmetics and Personal care, Textiles Application
According to latest research, The Refined glycerin market is projected to expand between 4.0% and 6.0% CAGR during the assessment period 2021-2031. The growth of the market can be attributed due to the steady demand from pharmaceutical sector across the globe. It has various application in cosmetics, food industry and in paints and coating industry also.
Increase in the usage of glycerin in food industry is going to boost the demand of refined glycerin across the globe. The growing demand for improved properties and quality is expected to provide growth opportunities for the products market.
Major factors driving the market are the growing demand from the Cosmetics and personal Care Sector. Glycerin acts as one of the major ingredient in the composition of many cosmetics and personal care products as it has a property of acting as humectant i.e. to retain moisture when added to these cosmetics items.
High economic growth and increase in population are expected to drive this personal care sector, thereby propelling the demand for refined glycerin in cosmetic and personal care applications.
In the food and beverages sector, with shifting lifestyle preferences people also changing their eating habits especially in the developing countries like India. The people are demanding more of this fast food and convenience food then the natural food.
Thus rise in the demand of these fast foods is going to increase the demand of refined glycerin as this glycerin acts as a sweeteners, solvents and preservatives for many food and beverage Products. Growth in demand for processed foods and beverages is a major factor estimated to drive the market in the near future.
Increasing demand from the pharmaceutical industries is one of the major factors driving the world’s refined glycerin market. As we know the global healthcare landscape has been changing rapidly since COVID-19, with people getting more health conscious and the increasing ageing population, the demand of advanced pharmaceutical products has been increasing rapidly around the globe, which in turn has led to increased consumption of pharmaceutical ingredients and raw material.
Thus this pharmaceutical industry is demanding more of the raw material and excipients and this glycerin is considered as a predominant excipients for pharmaceutical products.
APAC is estimated to be the largest market for refined glycerin in forecasted period. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC. According to the World Bank, APAC is the fastest-growing region in terms of both population and economy.
The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. Asia pacific market is forecasted to generate the highest revenue of Revenue of USD 1.6 Billion in the year 2026 due to the extensive demand in consumer goods such as cosmetics, personal care and others.
North America is also expected to witness significant market growth of this compound on account of rising production in food and cosmetic industries over the forecast period.
However, Demand in this region is supposed to grow at a steady pace due with significant traction from the food, cosmetics, personal care as well pharmaceutical sectors. The capacity additions in the region of US and Canada are predicted to increase the market call over the outlook period.
Some of the leading manufacturers and suppliers include
Several key market participants are focusing on new & innovative product development to cater the growing demand from the end use sector. Key players are investing an enormous amount in research and development to introduce new products and they are also investing to manufacture products in a sustainable way, to decrease the carbon emission.
Key players are also focusing on acquisitions of small and medium size players and collaborations with other market participants either for the R&D or to manufacture the product at a large scale.
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The Refined Glycerin report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.