Polyglycerol Market By Type, Application and Companies Forecast 2022-2027 Market Size, Share & Trends with COVID-19 Impact Analysis
Polyglycerols are used in a
wide range of end-use industry owing to their application as surfactant,
stabilizing and emulsifying agent among others. The rising growth of the
pharmaceutical and cosmetic and healthcare industries across the globe is
substantially affecting the growth of the polyglycerol market.
The global Polyglycerol
Market has been driven by a range of application in the various
end-use industries such as food & beverages, pharmaceuticals, personal care
among others. Moreover, it is estimated that the personal care industry is set
to witness the highest growth due to the growing application of polyglycerols
in moisturizers, hair care and other personal care products.
Market Segmentation:
The global polyglycerol market
is segmented into product type and end-user. On the basis of product type, the
market is segregated into PG2, PG3, PG4, PG6, and PG10. The market by end use
industry is bifurcated into food & beverages, pharmaceuticals, personal
care, others.
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Market Scenario:
The PG3 product segment is
anticipated to observe a higher CAGR during the forecast period. The enhanced
and superior qualities of polyglycerols find their application in the food
& beverage and the detergent industry. PG3 is used in margarines, chocolates,
baked products and in other fat substitution applications. Moreover, it is also
used as surfactant in the detergent industry owing to its improved texture,
softness, and fragrance of the product.
The global polyglycerol market
is spanned across five key regions: Asia Pacific, North America, Europe, Latin
America, and the Middle East & Africa. Among these, Asia Pacific holds a
major share of the market and is expected to be the fastest growing region at
an exponential CAGR. The presence of the most populated countries of the world
such as India and China has augmented the demand for various sectors such as
food and beverage, personal care, home care, and automotive among others,
which, in turn, is anticipated to fuel the demand for polyglycerol in the region.
Moreover, the growing processed food demand mainly in Japan, India and China is
also expected to contribute to the market.
The European region is
estimated to witness a significant growth in the countries owing to burgeoning
personal care and automobile industry. The increasing use of polyglycerol by
the health conscious population owing to the low fat content coupled with the
increased use in food products is expected to be one of the major factors
contributing to growth of the market.
The North American
polyglycerol market is mainly driven by the U.S. and Canada. The presence of
the developed end-user industries coupled with the increasing adoption rate is
contributing significantly to the growth of the market. Moreover, the growing
use in processed food, salad dressings, lotions, detergents, and hair care
among others is fuelling the growth of the polyglycerol market in this region.
Competitive Analysis:
Some of the prominent players
operating in the global polyglycerol market are, Procter & gamble (U.S.),
SOLVAY( Belgium), Unilever Holdings (England), Godrej Industries Ltd (India).,
Dow Chemical Company (U.S.), The Lonza Group (Switzerland), The Hershey Company
(U.S.), Stepan Company(Illinois), Savannah Surfactants (India), and Palsgaard
(Denmark) among others.
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