Q4 2024 saw a sharp glycerine price rise (+26% YoY Dec) on demand & global shifts. H2 2025 may see softening on ample supply & stable palm oil.

Why did the Glycerine Price Change in July 2025? Glycerine Spot Price showed an overall upward trajectory in Q2 2025, with crude glycerine averaging a 1.86% month-on-month rise and refined USP 99.5% averaging a 1.69% monthly increase; June saw spot prices at USD 446/MT for crude (up 1.13% from May) and USD 1,938/MT for refined (up 3.3% from May).

Get the latest insights on price movement and trend analysis of Glycerin in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global Glycerine market stood at approximately 4442 thousand tonnes in 2024 and is expected to grow at a CAGR of 5.42% during the forecast period until 2035.

In 2025, the global food-grade glycerine market is projected to reach approximately USD 404.7 million, with expectations to grow to around USD 474.3 million by 2035, reflecting a Compound Annual Growth Rate (CAGR) of 1.6% during the forecast period.

Key Market Metrics

Metric	Value
Market Size in 2025	USD 404.7 Million
Projected Market Size in 2035	USD 474.3 Million
CAGR (2025 to 2035)	1.6%

Country-wise Outlook

Country	CAGR (2025 to 2035)
USA	1.8%

Country	CAGR (2025 to 2035)
UK	1.5%

Country	CAGR (2025 to 2035)
EU	1.4%

Country	CAGR (2025 to 2035)
Japan	1.6%

Country	CAGR (2025 to 2035)
South Korea	1.5%

Competitive Outlook

Company/Organization Name	Estimated Market Share (%)
Cargill, Incorporated	18-22%
Dow Chemical Company	14-18%
BASF SE	12-16%
Wilmar International Limited	10-14%
Emery Oleo chemicals	8-12%
Others	26-32%

The global glycerine market value was approximately USD 3.35 Billion in 2024. The market is projected to grow at a CAGR of 3.00% between 2025 and 2034, reaching a value of around USD 4.50 Billion by 2034.

The Glycerin Market Report Segments the Industry by Grade (Crude Glycerin and Refined Glycerin), Source (Biodiesel, Fatty Acids, Fatty Alcohols, and Other Sources), Application (Personal Care and Cosmetics, Pharmaceuticals, Food and Beverage, Polyether Polyols, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

In 2024, the Malaysian crude glycerol market decreased by -5.6% to $18M, falling for the second year in a row after two years of growth. In general, consumption showed a mild descent. Over the period under review, the market reached the maximum level at $25M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Glycerine Market was valued at $3.47 Billion in 2024, and it is projected to reach $5.86 Billion by 2030, driven by the growth in personal care sector globally.

The global glycerin market size was over USD 3.84 billion in 2024 and is expected to grow at a CAGR of over 6.6%, surpassing USD 8.81 billion by 2037. The vegetable oils segment is expected to register significant growth, driven by increasing use of vegetable oil glycerin due to its lower impurity levels and hydrolysis process.

Refined Glycerine Market Outlook

The global refined glycerine market size was estimated to be USD 3.5 billion in 2023, and it is anticipated to reach around USD 5.8 billion by 2032, growing at a steady CAGR of approximately 5.5% during the forecast period. This robust growth is primarily driven by the rise in demand from various end-use industries such as personal care, pharmaceuticals, and food and beverages. Increasing awareness regarding personal hygiene and skincare regimens, coupled with the rising population, has significantly augmented the consumption of products containing refined glycerine. Additionally, the pharmaceutical industry's expansion, driven by an aging population and increasing health awareness, further fuels the demand for refined glycerine as a vital component in drug formulations.

The personal care industry serves as a significant growth factor for the refined glycerine market. Refined glycerine is a key ingredient in many personal care products due to its moisturizing properties, making it indispensable in the formulation of lotions, creams, and soaps. As consumer preferences shift towards more natural and organic personal care products, the demand for refined glycerine, especially that derived from plant sources, is expected to rise. The growing middle class in emerging economies has further intensified the demand for a broader range of personal care products, thus driving the market. Furthermore, increasing consumer awareness regarding the benefits of glycerine in skincare, such as enhanced moisture retention and improved skin texture, is likely to sustain its demand in this segment.

In the pharmaceutical sector, refined glycerine is highly valued for its role as an excipient in various formulations, including syrups, elixirs, and vaccines. The pharmaceutical industry is experiencing rapid growth due to advancements in medical technology and a heightened focus on healthcare initiatives worldwide. This growth directly influences the refined glycerine market, as pharmaceutical companies seek high-quality excipients to ensure the efficacy and stability of their products. Additionally, the expansion of generic medicine production, along with increased governmental support for healthcare infrastructure, further amplifies the demand for refined glycerine. The substance's versatility and effectiveness in stabilizing active ingredients and maintaining moisture content are crucial attributes that bolster its application in this sector.

The food and beverage industry's inclination towards natural additives is another pivotal factor contributing to the refined glycerine market's growth. As a humectant, sweetener, and preservative, refined glycerine is extensively used in various food products, ranging from baked goods to beverages. The rising trend of health-conscious consumers seeking low-calorie and sugar-free options is fostering the use of refined glycerine as a sugar substitute. Additionally, its status as a generally recognized as safe (GRAS) ingredient by food safety authorities ensures its continued acceptance and utilization in food and beverage manufacturing. This trend is expected to be further supported by stringent food safety regulations and the continuous innovation of healthier food alternatives, thus propelling the market forward.

Food Glycerol plays a crucial role in the food and beverage industry, serving as an effective humectant, sweetener, and preservative. Its ability to retain moisture makes it an ideal ingredient in baked goods, confectioneries, and beverages, ensuring products remain fresh and appealing for longer periods. As consumers increasingly seek healthier and more natural food options, the demand for food glycerol is expected to rise. This trend is further supported by its status as a generally recognized as safe (GRAS) ingredient, which bolsters its acceptance in food manufacturing. Moreover, food glycerol's versatility in enhancing texture and sweetness without adding calories makes it a preferred choice for low-calorie and sugar-free products, aligning with the growing health-conscious consumer base.

Regionally, Asia Pacific is expected to dominate the refined glycerine market, owing to the rapid industrialization and urbanization in countries such as China and India. The burgeoning population in these regions, coupled with increasing disposable incomes, has resulted in a higher demand for personal care and pharmaceutical products, thereby boosting the market for refined glycerine. North America and Europe are also significant contributors to the market, with a

Global Glycerine market size 2025 was XX Million. Glycerine Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

Refined Glycerine Market size was valued at USD 2.04 Billion in 2023 and is projected to reach USD 2.96 Billion by 2031, growing at a CAGR of 5.25% from 2024 to 2031.

Key Market Drivers: Personal Care Products Demand: Demand for refined glycerine is driven mostly by its broad use in personal care and cosmetic goods. Glycerine is an important element in soaps, lotions, creams, and shampoos because of its moisturizing and hydrating characteristics. It helps to keep the skin's moisture balance making it a common ingredient in skincare and haircare products. According to the American Chemistry Council, the worldwide personal care business is steadily expanding with an expected annual growth rate of 4.5%. Pharmaceutical Industry Growth: Another key driver is the expansion of the pharmaceutical industry. Refined glycerin is utilized in medication formulations as a solvent, humectant, and preservative. The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) predicts that the global pharmaceutical business would be worth USD 1.5 trillion by 2023. As the demand for drugs and healthcare items grows, so does the requirement for refined glycerin. Rising Biodiesel Production: The biodiesel industry's expansion greatly boosts the Refined Glycerine Market. Glycerine is a byproduct of biodiesel production which converts vegetable oils or animal fats into biodiesel by transesterification. With rising environmental concerns and a push for alternative energy sources, biodiesel production is increasing. According to the International Energy Agency (IEA), global biodiesel output is predicted to increase by 5% annually.

The global Glycerin Market size is expected to reach USD 4.81 Billion in 2032 registering a CAGR of 6.1%. Our report provides a comprehensive overview of the industry, including key players, market share, growth opportunities and more.

The U.S. crude glycerol market reached $230M in 2024, leveling off at the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Crude glycerol consumption peaked at $260M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Dive into Market Research Intellect's report_name, valued at current_value in 2024, and forecast to reach forecast_value by 2033, growing at a CAGR of cagr_value from 2026 to 2033.

• The global industry was valued at US$ 249.7 Mn in 2023
• It is estimated to grow at a CAGR of 5.5% from 2024 to 2034 and reach US$ 446.0 Mn by the end of 2034

Market Introduction

Attribute	Detail
Drivers	Surge in Demand for Natural and Organic Glycerine in Cosmetics Products Growth in Emphasis on Clean Beauty without Harmful Chemicals

Regional Outlook of Organic Glycerine for Cosmetics Industry

Attribute	Detail
Leading Region	Asia Pacific

Organic Glycerine for Cosmetics Market Snapshot

Attribute	Detail
Market Value in 2023 (Base Year)	US$ 249.7 Mn
Market Forecast Value in 2034	US$ 446.0 Mn
Growth Rate (CAGR)	5.5%
Forecast Period	2024-2034
Historical Period	2020-2022
Quantitative Units	US$ Mn for Value and Thousand Tons for Volume
Market Analysis	Global qualitative analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, PESTEL analysis, etc. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis.
Competition Landscape	Prominent Players - Competition Dashboard and Revenue Share Analysis 2023 Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
Regions Covered	North America Europe Asia Pacific Middle East & Africa South America
Market Segmentation	Product Source Palm Coconut Soybeans Karanja Others (Mustard, etc.) Purity <99.5% >99.5% Application Skin Care Products Cleanser Moisturizer Face Oil Cream Others (Face Serum, etc.) Hair Care Products Shampoo Conditioner Hair Oil Others (Hair Serum, etc.) Body Care Products Soaps Oils Others (Shower Gel, etc.) Other Products (Makeup Toner, etc.) Distribution Channel Direct Sales Indirect Sales
Companies Profiled	AIPRIME NUTRITIONS PVT.LTD. AromaMusk Botanic Planet Canada Inc. EnviroChem International Pty Ltd. GEO-FRESH ORGANIC Hyjiva Healthcare Private Limited Manorama Industries Limited. Organic Netra Vegetable Glycerin Syscom Organic World Private Limited Wildorganic Other Key Players
Customization Scope	Available upon Request
Pricing	Available upon Request

According to Cognitive Market Research, the global Glycerin market size will be USD 2.0 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. Market Dynamics of Glycerin Market

Key Drivers for Glycerin Market

Expanding Demand from the Personal Care and Cosmetics Industry

Glycerin is a widely used ingredient in personal care and cosmetic products due to its excellent moisturizing, humectant, and skin-soothing properties. As global consumer demand for skincare, haircare, and hygiene products continues to rise especially in emerging economies the need for high-quality, plant-based and non-toxic ingredients like glycerin is growing steadily. The clean beauty trend further amplifies this demand, as brands seek safe, natural, and sustainable ingredients to align with eco-conscious consumer preferences. This robust uptake from the personal care sector remains one of the strongest growth engines for the glycerin market.

Increasing Utilization in Pharmaceutical and Food Industries

Glycerin is gaining widespread application in the pharmaceutical and food & beverage sectors due to its non-toxic, sweet-tasting, and solvent-like qualities. In pharmaceuticals, it is used as a carrier in syrups, lozenges, and capsules, while in food, it acts as a humectant, preservative, and low-calorie sweetener. The surge in demand for processed foods, oral medications, and wellness supplements especially in the wake of growing health awareness has led to increased industrial consumption of refined glycerin. As regulatory bodies approve glycerin for diverse end uses, its importance as a versatile, functional ingredient continues to grow.

Key Restraints for Glycerin Market

The availability and development of synthetic glycerin alternatives hinder the Glycerin industry growth

One major restraint in the glycerin market is the increasing availability and adoption of synthetic alternatives, which are chemically engineered to replicate the properties of natural glycerin. These synthetic versions, often derived from petrochemical sources or advanced bio-engineering processes, can offer greater consistency, purity, and tailored functionality depending on the end-use application. Industries such as pharmaceuticals, cosmetics, and personal care may prefer synthetic variants for applications requiring strict formulation control or allergen-free standards. As research and innovation in synthetic substitutes advance, they present a growing competitive threat to natural glycerin reducing its demand and putting pressure on pricing and market share for traditional glycerin producers.

The market also faces significant difficulties related to fluctuating raw material prices

Another critical restraint is the high volatility in raw material prices, particularly those linked to biodiesel production and vegetable oils like palm, soybean, or coconut key feedstocks for natural glycerin. Since glycerin is often a byproduct of biodiesel manufacturing, its supply and cost are tightly linked to biodiesel market dynamics and global oilseed crop yields. Any disruption in agricultural output due to weather, geopolitical factors, or trade policies can lead to sharp price swings. This unpredictability affects manufacturers' ability to plan, price competitively, and maintain stable margins. As a result, cost instability discourages long-term investment and creates operational challenges for businesses reliant on glycerin as a core ingredient.

Key Trends of Glycerin Market

Surge in Bio-based and Sustainable Glycerin Production

Driven by growing environmental awareness and demand for renewable alternatives, manufacturers are increasingly producing bio-based glycerin derived from vegetable oils and biodiesel by-products over petroleum-based synthetic versions. This shift supports circular economy principles, reduces carbon emissions, and aligns with consumer and regulatory preferences for green ingredients. It’s also prompting major investments in refining infrastructure, such as the expansion of biobased glycerin facilities in Europe, making high-purity, eco-friendly glycerin more accessible across industries.

Rising Use in Personal Care, Food & Specialty Applications

Glycerin is seeing increased integration into personal care, food, pharmaceutical, and specialty chemical products, thanks to its moisturizing, humectant, and stabilizing pro...

Global Refined Glycerine market size 2025 was XX Million. Refined Glycerine Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

Food Glycerine Market Outlook

The global food glycerine market size was valued at approximately USD 3.5 billion in 2023 and is projected to reach around USD 5.7 billion by 2032, growing at a CAGR of 5.5% during the forecast period. The market is witnessing significant growth due to the increasing demand for glycerine in food and beverages, pharmaceuticals, and personal care applications. This versatile compound is known for its humectant, solvent, and sweetening properties, making it an essential ingredient in various consumer goods. The primary growth driver for the food glycerine market is the rising consumption of processed and convenience foods, along with the expanding pharmaceutical and personal care industries, which increasingly rely on glycerine for its functional benefits.

One of the core growth factors contributing to the expansion of the food glycerine market is the increasing consumer awareness and preference for natural and clean-label products. As consumers become more health-conscious and informed about the ingredients in their food and personal care products, the demand for food-grade glycerine, derived from natural sources such as vegetable oils, is on the rise. This trend is further bolstered by the expanding vegan and vegetarian population, who prefer plant-based ingredients. Additionally, the versatility of glycerine as a multi-functional ingredient that enhances moisture retention, texture, and sweetness in food products is driving its demand in the food and beverage sector.

The burgeoning personal care and cosmetics industry also acts as a significant catalyst for the food glycerine market's growth. Glycerine is widely used in skincare and haircare products due to its hydrating and moisturizing properties. It acts as a natural humectant, drawing moisture into the skin, which is highly beneficial in personal care formulations. With the increasing consumer focus on skincare and personal grooming, the demand for glycerine in personal care products is expected to grow substantially. Moreover, the rise of e-commerce platforms has made it easier for consumers to access a wider range of personal care products, further fueling the demand for glycerine.

Another pivotal factor is the expanding pharmaceutical sector, which relies on glycerine as an excipient in various formulations. Glycerine is used to improve the texture and stability of medicines, making it an indispensable component in the pharmaceutical industry. The continuous advancements in drug development and the increasing prevalence of chronic diseases drive the demand for pharmaceutical products, thereby boosting the need for glycerine. Additionally, the development of new applications and technologies in the pharmaceutical sector presents lucrative opportunities for glycerine manufacturers.

Glycerol, a simple polyol compound, plays a pivotal role in the formulation of pharmaceutical products due to its unique properties. It is widely used as a solvent, sweetener, and preservative in various medicinal formulations. The pharmaceutical industry values glycerol for its ability to enhance the solubility of active ingredients, thereby improving the efficacy and stability of medications. As the demand for innovative drug delivery systems grows, glycerol's role in enhancing bioavailability and patient compliance becomes increasingly significant. Its non-toxic nature and compatibility with a wide range of pharmaceutical ingredients make it an indispensable component in the development of safe and effective medicines.

Regionally, the Asia Pacific dominates the food glycerine market, accounting for a significant share of the global consumption. The region's growth is driven by rapid urbanization, increasing disposable incomes, and changing lifestyle patterns, which lead to higher consumption of processed and convenience foods. North America and Europe also hold substantial shares in the market, supported by the well-established food and beverage and personal care industries. The Middle East & Africa and Latin America are emerging markets with significant growth potential, fueled by increasing consumer preference for natural and organic products and the expansion of the food processing industry.

Grade Analysis

The food glycerine market is segmented by grade into food grade, pharmaceutical grade, and industrial grade. Food-grade glycerine is the most prominent segment, owing to its extensive use in the food and beverage industry. This grade is highly sought after for its abili