Glycerol Monostearate Market Size, Share, Growth Report 2032

Glycerol Monostearate Market Size Overview

The global Glycerol Monostearate market size was USD 938.3 million in 2020 and is expected to reach USD 1,147.6 million by 2028, growing at a CAGR of around 2.6% between 2021 and 2028.

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Glycerol monostearate is the glycerol ester of stearic acid and is hygroscopic in nature. Glycerol monostearate is generally used as a food additive such as thickening, anti-caking, emulsifying, and preservative agents. Growing use of glycerol monostearate in the pharmaceutical industry is anticipated to bolster the growth of the glycerol monostearate market in the coming years.

Glycerol monostearate is widely used as a food additive and also used in preservation of food. Glycerol monostearate is also used to provide smooth texture to ice creams and whipped cream.

COVID-19 Impact Analysis:

The restrictions imposed by various nations to contain COVID had stopped the demand and supply resulting in a disruption across the whole supply chain. It has led to either closure or suspension of their production activities in most industrial units across the globe. Furthermore, the global economy was deeply impacted by implementation of lockdown, as many activities came to halt. The Glycerol Monostearate market saw a decline in its growth as the covid-19 outbreak progressed. This is attributed to the fact that research and development activities in the manufacturing plants or development centre were halted as funds were being directed for sustaining economic unrest by many players.

However, the global markets are slowly opening to their full potential and theirs a surge in demand. The market would remain bullish in upcoming year. The Glycerol Monostearate market has been severely impacted by Covid-19 pandemic. This is attributed to stringent regulation of economies across the globe to maintain lockdown, and due to social distancing norms, manufacturer are unable to operate at full strength which has led to decrease in production supply.

Glycerol Monostearate Market Growth Factors

Glycerol monostearate is generally used as an emulsifier and thickening agent in food & beverage industry and cosmetic industry. It is also used as a stabilizer in the pharmaceutical industry. Rapidly escalating food & beverage industry in India is expected to drive the glycerol monostearate market in the coming years. Moreover, the sharp rise in demand for cosmetic products in India is likely to foster the growth of the glycerol monostearate market within the forecast period. There has been a strong growth in the fast food chain which is expected to positively influence the growth of the glycerol monostearate market in the future. On the flip side, availability of various substitutes may limit the growth of the glycerol monostearate market. Nevertheless, increasing glycerol monostearate demand from emerging economies along with ongoing research for untapped applications is expected to aid the growth of glycerol monostearate market in the coming years.

Glycerol monostearate is a glycerol ester of stearic acid used as a food additive. It is a sweet flaky powder that is hygroscopic in nature. Glycerol monostearate occurs in our body as a result of the breakdown of fats by the pancreatic lipase. However, glycerol monostearate is also manufactured commercially and used as an emulsifier.

Glycerol monostearate is widely used in the food industry as an emulsifier and thickening agent. The rapidly growing cosmetics industry is likely to foster the growth of glycerol monostearate market within the forecast period. Furthermore, use of glycerol monostearate as a stabilizer in the pharmaceutical sector is anticipated to boost the glycerol monostearate market growth. However, the presence of several substitutes in the market may obstruct the growth of the glycerol monostearate in the future. Nevertheless, growing food industry is expected to offer ample opportunities for the glycerol monostearate market in the coming years

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Based on applications, the glycerol monostearate market can be segmented as an emulsifier, thickening, anti-caking, stabilizer and others. Emulsifier dominated the glycerol monostearate market in 2016 owing to high usage of glycerol monostearate as the emulsifier in food & beverages and cosmetics industry. Thickening and stabilizer are expected to emerge as potent segments within the forecast period.  The glycerol monostearate is utilized in various end-user industries such as food & beverage, pharmaceutical, cosmetic and another end user. Food & beverage held a remarkable market share in the glycerol monostearate market in 2016. This can be attributed to the use of glycerol monostearate as the emulsifier, thickener, and stabilizer. Glycerol monostearate can also be used as flavor enhancers and anti-caking agents in the food industry. The cosmetics industry is likely to gain traction in the forecast period.

There has been a tremendous rise in food & beverage industry in India which is expected to spur the glycerol monostearate market growth within the forecast period. India held the third-highest share in the pharmaceutical market in terms of volume and fourteenth in terms of value across the globe. This factor is expected to positively impact the growth of glycerol monostearate market in the coming years.  Other factors contributing to the splendid growth of glycerol monostearate in India is the massive consumption of baked products and the sharp rise in the cosmetics industry.

Report Scope:  

Application Segment Analysis Preview  

The glycerol monostearate market can be segmented on the basis of applications into emulsifier, thickening, anti-caking, stabilizer and others. The emulsifier is the leading segment owing to high demand from food and cosmetics industry. Emulsifier accounted for the noteworthy market share in 2020.

End User Segment Analysis Preview  

Glycerol monostearate plays a vital role in food & beverage and cosmetic industry; it acts as an emulsifier for mixing up the oils and water. Food and beverage industry dominated the glycerol monostearate market with the compelling share of the overall glycerol monostearate market. The cosmetics industry is expected to experience huge growth in the forecast period. Pharmaceutical is also expected to propel the market growth within the forecast period owing to the usage of glycerol monostearate as a stabilizer in the manufacturing of drugs.

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Regional Preview

Asia Pacific led the market for Glycerol Monostearate in 2020 and it held more than 35.5% share of the market in 2020. This can be attributed mainly to the growing fascination of western fast food trend in the region. APAC is predicted to hold a major share of the total glycerol monostearate market owing to the sharp rise in dairy industry and the presence of major glycerol monostearate manufacturers in this region.

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Key Market Players & Competitive Landscape

The major players operating Glycerol Monostearate market are

• Volkem Chemical LLP
• Estelle Chemicals Pvt. Ltd.
• Alpha Chemicals Pvt Ltd
• Marathwada Chemicals
• Gujarat Amines
• Liberty Chemicals
• R. M. CHEMICALS
• Maher Chemical Industries
• ACM Chemicals
• Jeevika Yugchem Private Limited
• Mohini Organics Pvt. Ltd
• Techno Phramchem

The presence of several manufacturers in glycerol monostearate market has contributed to the intense competition among the players to sustain in the market.

The global Glycerol Monostearate market is segmented as follows:

By Application

• Emulsifier
• Thickening
• Anti-Caking
• Stabilizer
• Others

By End Users

• Food & Beverage
• Cosmetic
• Pharmaceutical
• Others   

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa