North America Glycerol Market Size, Share & Trends Analysis Report By Type (Refined, Crude), By Raw Material (Biodiesel, Fatty Acids, Soap, Fatty Alcohols), By Source (Plant, Animal, Synthetic), And Segment Forecasts, 2023 - 2033

North America Glycerol Market Size, Share & Trends Analysis Report By Type (Refined, Crude), By Raw Material (Biodiesel, Fatty Acids, Soap, Fatty Alcohols), By Source (Plant, Animal, Synthetic), And Segment Forecasts, 2023 - 2033

North America Glycerol Market Growth & Trends

The North America glycerol market size is expected to reach USD 1.94 billion by 2033, registering a CAGR of 5.0% from 2023 to 2033, as per the new report by Grand View Research, Inc. The growth is majorly driven by its increasing application in numerous industries, such as personal care, pharmaceuticals, and food & beverages, thereby leading to a significant rise in its demand in North America. In the personal care & cosmetics industry, glycerol is widely utilized in skin care products, shaving creams, hair care products, soaps, water-based personal lubricants, etc. It is also increasingly being used in cosmetics owing to the growing awareness among customers regarding personal health and hygiene.

Moreover, the product is also widely used as a flavoring agent in beverages and as a softening agent in confectionaries in the food & beverages industry. It is used as an artificial sweetener owing to the presence of high-calorie content. The U.S. FDA has approved the use of the product as a caloric macronutrient. Favorable government regulations in North America, coupled with flourishing end-use industries, are expected to augment the demand for glycerol in the region over the forecast period. C3H8O3 is an environment-friendly product as it is derived from natural sources, such as animal fats and plant oils. In addition, the product has lower toxicity than its substitutes (such as diethylene glycol, ceramides, and propylene glycols) and organic solvents (such as C6H14) owing to its high LD50.

The higher the LD50 dose, the less toxic the chemical developed, and vice-versa. The non-toxic nature of the product makes it preferable for use in the food & beverages industry. The market is highly competitive, with companies engaged in expanding their production capacity along with enhancing regional presence. Companies are also adopting strategies, such as partnerships and acquisitions, to gain a competitive edge in the market. For instance, in February 2023, KLK OLEO entered into an agreement to acquire Italy-based Temix Oleo. This acquisition is expected to help KLK Oleo strengthen its oleochemicals division, which includes the production of glycerin

North America Glycerol Market Report Highlights

• The bio-diesel raw material segment dominated the market with the highest revenue share of 55.7% in 2022 due to the high consumer awareness regarding naturally sourced products and demand for biodiesel
• The refined glycerol segment is projected to grow at the highest CAGR of 5.1% from 2023 to 2033 as a result of its extensive usage as an effective additive in various personal care and home care formulations due to its emulsifying and moisturizing properties
• The plant source segment dominated the market with the highest revenue share of 50.1% in 2022 owing to their renewable and sustainable nature. Vegetable oils, such as soybean and palm oil, are among the most common plant sources of glycerol
• The personal care & cosmetics segment dominated the market with the highest revenue share of 32.1% in 2022 due to high product utilization in enhancing the smoothness of skin care products, shaving creams, hair care products, soaps, water-based personal lubricants, etc.

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