Vegetable Glycerin: Market outlook
Food industry drives on innovations owing to consumers changing taste preferences and demands. Development in global travel and tourism have played a significant part in the transformation of the global food industry. Application of food-grade vegetable glycerin as a natural thickener in the preparation of bakery and dairy products is popular worldwide. Its natural thickening property is also utilized in the processed food industry. Vegetable glycerin has become one of the popular additives in the food preparation owing to its properties of thickening and suspending agent. In addition, consumer preference for natural and plant-derived products is fueling the global vegetable glycerin market. In the global food and beverage industry, the demand for vegetable glycerin is also increasing as a low-calorie sweetener alternative owing to its lower glycemic value than table sugar. Along with the food and beverage industry, the demand for vegetable glycerin is flourishing among pharmaceutical manufacturers and personal care manufacturers. In personal care, vegetable glycerin is used in various moisturizing skincare products. In the global vegetable glycerin market, North America and Europe hold the major share in production and consumption owing to the presence of major global players in the region. Unique promotional activities and strategies applied by manufacturers in these regions bring awareness among the manufacturers and consumers. With the increasing demand for vegetable glycerin in the various industrial sector is anticipated to propel the growth of vegetable glycerin market over the forecast period.
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Rising Demand for Vegetable Glycerin in Pharmaceutical and Nutraceutical Industry
Vegetable glycerin is extracted from various sources such as coconut oil, soy, and palm oil. Vegetable glycerin is extracted by heating of triglyceride-rich vegetable oil and it is colorless and odorless but sweet in taste. Vegetable glycerin market is growing at a robust growth rate in the food and beverage industry and also in personal care and cosmetic industry. In the global food and beverage industry, vegetable glycerin is used as a food additive to mix water and oil-based ingredients. It is also used in moistening and sweetening the final products. In the cosmetic industry, vegetable glycerin is used as a humectant as it gets easily absorbed in the skin. In addition, vegetable glycerin helps to heal minuscule cracks on the skin and help in retaining moisture into the skin. Vegetable glycerin is used in the manufacturing of moisturizers, lotions, creams, soaps and various other products. A plethora of cosmetic products are launched every year, which significantly propel the growth of vegetable glycerin market. In the pharmaceutical industry, vegetable glycerin is used to make ointments, creams, and other lubricants. Rising dermal issues among population bolstering the demand for vegetable glycerin, paving the way for the robust growth of the vegetable glycerin market in the coming future.
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Global Vegetable Glycerin: Key Players
Key players operating their business in global vegetable glycerin market are Dutch Glycerin Refinery (DGR), Avril Group, NOW Foods, Cargill Incorporated, Procter & Gamble, VVF L.L.C., Parchem fine & specialty chemicals, The Dow Chemical Company, Essential Depot, Inc. and others.
Opportunities for Market Participants:
Focus on physical and facial appearance leads to resilient demand for cosmetics, especially among teenagers and women, providing a good opportunity for the growth of vegetable glycerin market. On the other hand, increasing application of natural ingredients in nutraceutical to boost the athlete’s endurance spurring good opportunity for vegetable glycerin market growth. Apart from all the above-mentioned factors, increasing awareness among manufacturers and consumers about the benefits and application of vegetable glycerin. Increasing awareness leads to an increase in the application of vegetable glycerin which provides a great opportunity for manufacturers to bring vegetable glycine in their production line to cater to increasing demand with utmost satisfaction.