Published : 3 years ago, on 20/01/2022

The food grade glycerin market is slated to exceed a multi-billion dollar estimation in 2020, and is projected to grow at a sturdy pace throughout the forecast period, 2020-2030. Widespread application all over pharmaceuticals to production of creams, lubricants and ointments is boosting the market growth.

Increased hand sanitizers production to combat the pandemic has resulted in spiking glycerin sales in recent months. For instance, in the U.K, hand sanitizer sales swelled by over 250% in February 2020, while sales in Malaysia hit nearly US$ 237 thousand in January. Therefore, food grade glycerin market will surge impressively.

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“Leading players are looking to aim emerging economies to capture a broader consumer based and increase revenue prospects,” states the FMI analyst.

Organic Trends Boosts Profile

Organic food grade glycerin is acquiring significant traction, attributed to heightened awareness about the benefits of consuming naturally derived products. Until 2019, over two-fifths consumers in Western Europe admitted that organic food products are much healthier, representing an increase from the earlier 31% in 2017.

Consequently, glycerin derived from vegetable oils is acquiring surging popularity. Vegetable glycerin is also considered an effective alternative to table sugar as it possesses comparatively lesser calories. Furthermore, kosher and halal-grade glycerin are also garnering significant popularity. Such trends are helping shape the future of organic food grade glycerin.

Biodiesel Glycerin Gains Traction

Nearly 70% of global crude glycerin is derived from biodiesel industries. More than 75 countries today have a biodiesel glycerin production mandate. Indonesia, for instance, has a B30 mandate, meaning 30% of their diesel fuel must be bio-based. Such trends also tie in with the global sustainability agenda.

For every 100 pounds of biodiesel produced, nearly 10 pounds of crude glycerol is created. This high volume of biodiesel production is expected to provide significant boost to the food grade glycerin market.

Food Grade Glycerin Market- Important Highlights

• South & East Asia will emerge as lucrative regions due to flourishing pharmaceutical, food & beverages, personal care and healthcare sectors.
• Biodiesel glycerin is anticipated to gains traction as around 70% of worldwide crude glycerin is sourced from biodiesel sector.
• Processed foods is anticipated to be the fastest growing segment due to increasing demand for clean-label foods.

Food Grade Glycerin Market – Drivers

• Organic food grade glycerin is gaining notable traction due to increased awareness concerning the advantages of consuming naturally sourced products.
• Halal and kosher-grade glycerin are further gaining significant popularity encouraging the market growth.
• Suring demand for hand sanitizer owing to the change in consumers behavior amid COVID-19 is positively impacting the global market.

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Food Grade Glycerin Market – Restraints

• Strict food regulations by FDA might hamper growth throughout the forecast period.

Coronavirus Impact on Food Grade Glycerin Market

The global market for food grade glycerin has foreseen a slight slowing down on the onset of the pandemic, on the back of worldwide shutdowns. However, FMI in its reports states that the market growth will eventually pick up its pace with customers shifting towards uptake of instant foods that necessitates preservatives.

Furthermore, increased production of hand sanitizers to battle the infection spread has ensued in growing glycerin sales in recent months, thus boosting sales of food grade glycerin, globally.

Competitive Landscape

Key players identified in the global food grade glycerin market include Wilmar International Ltd., IOI Oleochemicals, Emery Oleochemicals, P&G Chemicals, Croda International PLC, Avril Group, KAO Corporation, Cremer Oleo GmbH & Co KG, The DOW Chemical Company (Olin Corporation), Vitusa Products Inc., PT Smart TBK, Twin Rivers Technologies Inc., PT Bakrie Sumatera Plantations TBK, Sakamoto Yakuhin Kogyo Co Ltd. and Pacific Oleochemicals Sdn Bhd.

Key Questions Answered in the Report

• How will the food grade glycerin market grow until 2030?
• What drives the global food grade glycerin market?
• How is COVID-19 impacting food grade glycerine market size?
• Which is the largest market for food grade glycerin?
• Which are the prominent food grade glycerin market players?

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