GLYCERIN MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics:

• Refined grade glycerin is used in pharmaceutical as well as home care and cosmetic products. Glycerin is used to increase density, viscosity, and freezing point of product formulations. Growth of end-use industries of refined glycerin globally is in turn expected to boost demand for glycerin over the forecast period. For instance, according to Consulate General of Israel, Mumbai-Economic Department of Government of India, Indian beauty and personal care industry was valued at about US$ 7.0 billion in 2014 and is expected to reach about US$ 10.0 billion by 2021.
• However, stringent government regulations imposed on glycerin production in order ensue safety and quality is expected to negatively impact growth of glycerin market over the forecast period. For instance, glycerin intended for pharmaceutical applications should meet regulatory requirements set by different pharmacopeia such as USP (United States Pharmacopeia) and EP (European Pharmacopoeia), whereas glycerin intended for food applications should meet criteria of various authorities such as ‘Food Codex’, ‘Food Safety and Standards Authority of India’, and Food Chemicals Codex standards.