Food Grade Glycerin Market: Snapshot
The surging demand for glycerin by various end use industries across the world is prognosticated to help the global food grade glycerin market gain significant revenue in the forecast period, 2023-2030. Food grade glycerin or vegetable glycerin is a clear liquid made out of coconut, palm oils, or soybean and has a milk sweet taste. It is also used in food as an ingredient that prevents the crystallization of sugar in beverage products. Unlike most alcohol with sugar content, glycerin is about 60 to 70% as sweet, the reason expected to aid in favor of the overall food grade glycerin market.
The report offers market dynamics in the form of growth boosters, repellers, challenges, and opportunities. It also includes regional and national level analysis with insights such as recent innovations, current trends, and upcoming growth opportunities. The report further describes the impact of COVID-19 pandemic on the market and what strategies can be adopted by manufacturers to attract revenue in the years to come. The table of segmentation with names of leading segment and its attributed factor is also described in the report.
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The global market for food grade glycerin is widespread into the categories of process, source grade, and application. In terms of process, the market is grouped into fat splitting, saponification, and transesterification. The third section is further divided into base catalyzed transesterification, enzymatic catalyzed transesterification, and acid catalyzed transesterification. With respect to segmentation by source, the market is classified into synthetic, soaps, biodiesel, and vegetable oils. Based on grade, the market is bifurcated into pharmaceutical grade, and technical grade. In terms of application, the market is divided majorly into industrial application, and chemical intermediate, that have further categorizations. The chemical intermediate section includes glycol substitute, glycerol carbonate, acrolein, propanediol, epichlorohydrin, and propylene glycol. The industrial application section includes further categories such as tobacco, alkyd resins, polyether polyols, auytomotive, personal care, food & beverage, and pharmaceutical & healthcare.
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Food Grade Glycerin Market: Competitors of the Market
Vendors of the global food grade glycerin market are focusing on tapping arising economies, attributable to the predominance of a huge client base and improving ways of life. These players depend on key coordinated efforts, acquisitions, consolidations and item arrangements to stay above water. For example, Kuala Lumpur Kepong Bhd (KLK) is purchasing Emery Oleochemicals GmbH’s oleochemicals resources and business in Düsseldorf, Germany for 40.5 million euros.
Companies like P&G, Solvay, and Indus Chemicals has progressed significantly in the Asian market. Indus Chemicals is the biggest wholesaler of glycerine in India, fabricating the Moon K and Superol Glycerine variations separately.
Players of this market include Kao Corporation, Croda International Plc , Wilmar International, Emery Oleochemicals, Avril Group, IOI Oleochemicals, Godrej Industries, P&G Chemicals, KLK Berhad, Cargill Incorporated, and others. These makers are focusing on the expansion of their local presence by attempted joint ventures, consolidations and acquisitions, and new item advancements methodologies.
Food Grade Glycerin Market: Industrial Insights
Glycerin for food has high demand from the food and drink industry as a low-calorie wellspring of lecithin on account of its broad useful advantages. It helps in decreasing the consistency, replaces more costly fixings, controls sugar crystallization, helps in the homogeneous blending of fixings and above all improves timeframe of realistic usability of items. The expanding number of diabetic patients internationally is relied upon to additional push assembling of food items for the use of glycerin.
Food Grade Glycerin Market: Geographic Segmentation
Geographically, Asia Pacific is holding the largest food grade glycerin market share on account of high demand for glycerin from the pharmaceutical and healthcare sector. Europe ranks second on account of the increasing application of glycerin in food and beverage products. Furthermore, the market in North America is likely to gather notable revenue from North America on account of the increasing use of glycerin in personal care and beauty products.