Market Overview
The Polyglycerol Market is widely used as in automobile, personal care, healthcare, pharmaceuticals, food & beverage and others. Polyglycerols are extensively used in the processed food and low fat applications. Personal care industry is expected to witness the highest growth during the forecast years. Its growing use in lotions, moisturizers, sun care and other skin care products has contributed substantially to the growth of the segment.
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The Global Polyglycerol Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to be the fastest growing market, owing to the increasing consumption of polyglycerol in the food and beverage, automobile personal care industry among others. It is estimated that the PG3 product segment is set to observe the highest CAGR in the market due to growing demand for polyglycerol as food additive. Moreover, the growing per capita disposable income in the developing region has augmented the demand for homecare and personal care products which is another factor contributing to the growth of the 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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Key Players
- Procter & gamble
- SOLVAY
- Unilever Holdings
- Godrej Industries Ltd
- Dow Chemical Company
- The Lonza Group
- The Hershey Company
- Stepan Company
- Savannah Surfactants
- Palsgaard
Regional Analysis
The North American market is expected to grow at a steady CAGR due to extensive consumption of polyglycerol in the pharmaceuticals and food industry. The fast paced lifestyle has augmented the demand for process and on the go food products, hence, fuelling the market demand owing to the extensive use of polyglycerol as food additives. Moreover, the growing prevalence of lifestyle disease such as obesity has augmented the use polyglycerol in the low fat applications which is also contributing to the market growth.
A steady development is achieved in the European market due to the growing adoption of the product in the automobile and healthcare industry. The growing demand for low fat products has surged the use of polyglycerol in bakery and chocolate manufacturing which is significantly adding to the market growth. In addition to this, polyglycerol is used as emulsifier and food additives and in the automotive industry is rise the demand of the products.
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