Kenneth Research recently added a report on the Polyglycerol Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
The global polyglycerol market was valued at $2.1 billion in 2018. The growth of this market is attributed towards extensive acceptance of polyglycerol in food industry and incorporation of various favourable regulations being implemented by the government authorities across the globe. Moreover, polyglycerol esters of fatty acids i.e. PGEs are used as an emulsifier in the foods and are considered to be range of synthetic and comprises of non-ionic emulsifier extensively being utilised in cosmetic, pharmaceutical and food industry.
Furthermore, it has been observed that in the food, the polyglycerol esters are being used as a surfactant agent in the production of chewing gum, baked goods and in fats replacement. Additionally, PGEs that are used in polyglycerol industry are permitted to be included to food as an additive and is considered to be fit for human consumption. Besides, these permits are being authorized by FDA in the code of federal regulations that is thereby significantly strengthening the growth of global polyglycerol market.
Increasing adoption of polyglycerol in personal care products is the key factor driving the growth of global polyglycerol market considerably. In promptly evolving world the needs and demands of consumers are constantly altering that thereby stimulates the service providers to launch new offerings in the market. Increasing consciousness among citizens related to personal grooming and appearance, increasing disposable income and increasing demand for organically produced cosmetics is thereby compelling the manufacturers to use polyglycerol emulsifiers in their personal care offerings.
Polyglycerol can be used in various product segments such as sun care, hair care, skin care and color cosmetic products. Additionally, polyglycerol can also be used in styling products and conditioners, facial and several body care products as well thereby propelling the growth of global polyglycerol market. However, launch of substitute of polyglycerol and fluctuating prices of raw materials are the major factors that are expected to hinder the growth of global polyglycerol market.
Polyglycerol market forecast 2019 – 2029 estimates the historical market size in terms of consumption as well as revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the polyglycerol manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Pharmaceuticals, food & beverage, personal care and other industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
The reports provide the analysis based on product and end user segment. On the basis of product, the global polyglycerol market is categorized into PG-2, PG-3, PG-4, PG-6 and PG-10. Of all, PG-3 category is accounted for largest share in 2018. The category is expected to lead throughout the forecast period owing to the widespread uses in personal care as well as in food industry. In personal care industry PG-3 are used in developing moisturizers, foundation, anti-aging serums, lip gloss, and hair conditioners.
Based on end user, the global polyglycerol market is categorized into pharmaceuticals, food & beverage, personal care, and others. Among all the end-users, personal care is expected to hold the largest share in polyglycerol market throughout the forecast period specifically in health and hygiene products, luxury cosmetics, skin care and body care products. Moreover, the increasing demands for luxury cosmetic range products especially from high networth individuals from across the globe are thus escalating the growth of the global polyglycerol market significantly.
The polyglycerol market in North America is anticipated to generate largest revenue throughout the estimated period due to increasing standard of living in the region along with extensive utilisation of polyglycerol in food and personal care industry. The increase in number of working populations in the region are thus propelling the demand for instant and packaged foods and beverages that is further strengthening the growth of polyglycerol market in this region.
Moreover, the ever-increasing population, increasing standard of living and disposable income of citizens, increasing adoption of personal care products and expansive development in manufacturing activities in pharmaceutical domain is thereby driving the growth of polyglycerol market in Asia-Pacific. Furthermore, Asia-Pacific is anticipated to witness highest growth during the forecast period since polyglycerol esters are considered to be an edible ingredient as a result to which it finds greater application in pharmaceutical and food industry. Moreover, the functionality of polyglycerol can be developed into a structure as and when desirable oscillating from making it completely water soluble or oil soluble.
The report also offers the insights for the European, Latin American, and Middle East and African Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
The eminent key players in the global polyglycerol market are undertaking mergers and acquisitions and collaborations in order to expand their product offerings and gaining competitive advantage.
Some of the players having prominent presence in the global polyglycerol market include Savannah Surfactants, Lonza Group, Procter & Gamble, The Hershey Company, Abitec Corporation, The Good Scents Company, A.H.A International Co., Ltd., Solvay Chemicals Inc., Nikko Chemicals Co., Ltd, Stepan Company, Zanis Group, Spiga Nord S.p.A., Cargill, Incorporated, Croda International Plc, and Palsgaard.
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