Chemicals and Advanced Materials

Polyglycerol Market Analysis by Type (Polyglycerol Polyricinoleate, Polyglycerol Esters, and Others); by Application (Emulsifiers, Food Additives, Surfactants, and Others); by Product (PG-2, PG-3, PG-4, PG-6, and PG-10); and by End-Use (Food & Beverage, Cosmetics & Personal Care, Pharmaceuticals, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4624 | Published On: Jan 30, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Koninklijke DSM N.V. (DSM) to announce its strategic choice to devote all of its expertise and resources to addressing the pressing socio-economic and environmental issues related to how people produce and consume food worldwide.

  • Merck KGaA to acquire M Chemical Inc. and the chemical business of Mecaro. This acquisition is based on the semiconductor solution portfolio of the company and to expand Merck KGaA’s global and regional capabilities.  


Global Polyglycerol Market Definition

Polyglycerol is made from fatty acids and glycerol and is known as an emulsifier. The fatty acids used in the production of polyglycerol are derived from soybeans, castor beans, and others. Polyglycerol is marketed under the CAS number 29894-35-7 and is also designated as propanetriol, homopolymer, and others. It is used in chocolates and other substances such as lecithin since it can reduce viscosity. To make polyglycerol, glycerol is heated at 200 °C along with an alkaline catalyst in a reactor. Fatty acids are prepared separately at a similar temperature to create ricinoleic fatty acids and then mixed together.

Polyglycerol is highly used in chocolates to improve the coating process when they are near the melting point. It also enhances the shapes and the performance of the equipment used in the production of molded products. Polyglycerol improves the flow of the chocolate batter and releases the trapped air. Polyglycerol polyricinoleate dangers include mild hazards such as, skin irritation, which is very rare. Polyglycerol esters as emulsifiers are used in the plastic, food, and cosmetics industry.

Polyglycerol is approved by the FDA, hence, it can be used as an emulsifying food additive in chocolates and salad dressings to decrease the viscosity. Furthermore, polyglycerol also comprises skin conditioning agents, therefore, it is highly used in cosmetic products. It is insoluble in ethanol and water and is a viscous liquid & yellowish substance.


Global Polyglycerol Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Polyglycerol Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global polyglycerol market is estimated to garner a revenue of ~USD 8 billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 billion in the year 2022. The growth of the market can be attributed to the increasing export volume for polyglycerol esters of fatty acids (PEFA) (E475) as well as its use in various industries such as food and cosmetics. The global export value for PEFA (E475) in 2021 was USD 43,837,884 thousand, up from USD 38,010,778 thousand in 2020, with an annual growth value of 16% from 2020-2021.

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Polyglycerol is one of the polymeric condensation products of glycerol. It is typically produced from natural glycerol, a substance derived from vegetable oils. Polyglycerol is the raw material for food additives and cosmetics, acting as a moisture-retaining agent and thickener for cosmetics. Furthermore, polyglycerol esters of fatty acids (PEFA) (E 475) have been widely used as a food additive. The mean and 95th percentile levels of daily exposure to PEFA utilized as a food additive in children were, respectively, 2.6 and 6.4 mg/kg BW in the non-brand loyal scenario. Global polyglycerol market trends such as higher utilization of polyglycerol as an alternate energy source in the feed of poultry, ruminants, and pigs, and research, are further expected to influence the market’s growth positively over the forecast period. This utilization is also spurred by the escalated consumption of poultry meat globally. As of 2022, approximately 4000 metric tons of poultry meat were solely consumed in India.


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Global Polyglycerol Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Utilization of polyglycerol in the Pharmaceutical Industry – Polyglycerols are extensively employed as drug carriers in the pharmaceutical business and in the biomedical industry for regenerative treatments. The surge in the sale of pharmaceuticals is expected to escalate the polyglycerols market in the upcoming years.

It was found that the total global pharmaceutical sales in 2018 were USD 972.5 billion which rose to USD 1,187 billion in 2021 globally.

  • Rising Demand from Poultry Sector to be Mixed in Animal Feed – It is predicted that more than 1 billion tons of compound feed are generated globally each year. Around USD 400 billion in revenue is reportedly generated annually by the production of commercial feeds worldwide.

  • Increasing Inclination towards Fast Food – In 2020, the fast food industry reached around USD 400 million in China alone, while adults aged between 18 to 25 are observed to eat outside once a week. Additionally, the entire fast food sector in the United States was estimated to exhibit a total revenue of USD 300 billion in 2022.

  • Growing Demand for Polyglycerol in the Cosmetics Products - PEFA(E475) is frequently employed in the production of secure and eco-friendly cosmetic and personal care products. Polyglycerol ranks third among ingredients in cosmetics. Over 15,655 goods have polyglycerol in them.

  • Escalated Sales and Production Volume of Chocolate Globally – For instance, approximately 7 million metric tons of chocolate are consumed by the global population every year across the globe. Additionally, nearly 18% of the world’s chocolate is consumed in the United States, while nearly 45% of the retail sales of chocolate occur in Europe.

Challenges

  • Stability Challenge of Lipid-based Excipients (LBEs) - for drug delivery affecting the stability of the pharmaceutical product. The unstable solid state of a number of polyglycerol moieties limits their preference for different pharmaceutical applications. Hence, this factor may limit the growth of the market over the forecast period.
  • Adoption of Substitutes for Polyglycerols
  • Fluctuating Prices of Raw Materials


Market Segmentation

The global polyglycerol market is segmented and analyzed for demand and supply by product into PG-2, PG-3, PG-4, PG-6, and PG-10. Out of these sub-segments, PG-3 is estimated to gain the largest market share over the projected time frame. This can be attributed to the segment’s vast applications in the personal care and cosmetic industries, it is anticipated to remain at the top during the forecast period. Moisturizers, foundation, anti-aging serums, lip gloss, and hair conditioners are all made with PG-3 in the personal care business. The personal care industry is growing rapidly on account of the higher inclination of the global population towards the use of cosmetic products for skin & hair care. For instance, considering the European cosmetic industry, with 841 small and medium-sized businesses (SMEs) in the cosmetics manufacturing sector, France led all of Europe, followed by Italy with 736 SMEs as of 2020.

The global polyglycerol market is also segmented and analyzed for demand and supply by end-use into food & beverage, cosmetics & personal care, pharmaceuticals, and others. Amongst these segments, the food & beverage segment is expected to garner a significant share. Polyglycerol is significantly used in the food industry as an emulsifier, colorant, texture stabilizer, preservative, and others, especially in food production. For instance, in 2020, the total value of labeled packaged food was estimated to increase to approximately USD 850 billion up from USD 700 billion in 2015 worldwide. It can increase the shelf-life of foods such as, cake, meat, biscuits, and others by preventing starch aging. As of 2021, the meat industry across the globe was expected to hit approximately USD 900 billion and is projected to reach around USD 1 trillion by 2027.

Our in-depth analysis of the global polyglycerol market includes the following segments:

            By Type

  • Polyglycerol Polyricinoleate
  • Polyglycerol Esters
  • Others

           By Application

  • Emulsifiers
  • Food Additives
  • Surfactants
  • Others

            By Product

  • PG-2
  • PG-3
  • PG-4
  • PG-6
  • PG-10

            By End-Use

  • Food & Beverage
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Others


Global Polyglycerol Market Regional Synopsis

The Asia Pacific polyglycerol market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising use of medicines & drugs, significant expansion of pharmaceutical manufacturing operations, as well as wider application of polyglycerol esters in the pharmaceutical industries, which are regarded as edible ingredients. For instance, comparing 2018 to 2019, the pharmaceutical market in China witnessed a 4% growth. Over USD 276 billion worth of pharmaceutical products were produced in China in 2019. Furthermore, the global polyglycerol market in the Asia Pacific is further expected to witness noteworthy growth on the back of higher consumption of meat and junk food. As mentioned above, polyglycerol is used in food to prevent starch from aging, hence, fast food can last longer for consumption without going contaminated. The consumption of meat is growing at a rapid pace in the region. For instance, the demand for meat is expected to grow by 30% by 2030, and by 2050, it is estimated to rise by approximately 75% in the region.

Polyglycerol-Market-regional-image

Polyglycerol-Market-regional-image
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Top Featured Companies Dominating the Global Polyglycerol Market

    • Koninklijke DSM N.V.

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Merck KGaA
    • Taiyo Kagaku Co., Ltd.
    • Estelle Chemicals Pvt. Ltd.
    • BASF SE
    • Spell Organics Ltd.
    • DuPont de Nemours, Inc.,
    • Spiga Nord S.p.A
    • Croda International Plc
    • Sakamoto Yakuhin Kogyo Co., Ltd.

     


Key Questions Answered in the Report

1) What are the major factors driving the growth of the polyglycerol market?

Ans: Growing utilization of polyglycerol in the pharmaceutical industry is the major factor driving the market growth.

2) What would be the CAGR of polyglycerol market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the polyglycerol market growth?

Ans: The stability challenges of lipid-based excipients (LBEs) are estimated to be the growth-hindering factors for market expansion.

4) Which region will provide more business opportunities for growth of polyglycerol market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the polyglycerol market?

Ans: The major players in the market are Merck KGaA, Taiyo Kagaku Co., Ltd., Estelle Chemicals Pvt. Ltd., BASF SE, Spell Organics Ltd., DuPont de Nemours, Inc., Spiga Nord S.p.A, Croda International Plc, Sakamoto Yakuhin Kogyo Co., Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the polyglycerol market?

Ans: The market is segmented by type, application, product, end-use, and by region.

8) Which segment captures the largest market size in the product segment?

Ans: The PG-3 segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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