Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Global Glycerol Monostearate Market: Analysis By Purity, By Type, By Application, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
In 2023, the global glycerol monostearate (GMS) market was valued at US$1.63 billion, and is probable to reach US$2.09 billion by 2029. The global glycerol monostearate (GMS) market value is projected to grow at a CAGR of 4.22%, during the forecast period of 2024-2029.
Global glycerol monostearate (GMS) market is fragmented. Market players have implemented sustainable growth techniques in the market. To strengthen their position in the market, some of the leading competitors are pursuing various growth methods such as mergers, acquisitions, collaborations, and agreements.
The glycerol monostearate market would witness a significant growth and evolving trends in the future driven by various factors such as increasing demand from the food and beverage industry, rising awareness regarding the benefits of glycerol monostearate in cosmetics and personal care products, and expanding applications in pharmaceuticals. Moreover, the trend towards functional foods and nutraceuticals, which offer health benefits beyond basic nutrition, would also fueled the demand for GMS. It is used in the production of dietary supplements, sports nutrition products, and functional beverages where its emulsifying and stabilizing properties are valuable for creating formulations with consistent texture and appearance.
Asia Pacific glycerol monostearate (GMS) market enjoyed the highest market share in 2023, as glycerol monostearate (GMS) finds extensive application across various sectors in Asia Pacific, including pharmaceuticals, textiles, and paints & coatings. The region's remarkable industrial and economic growth, led by powerhouse economies such as India, China, and Japan, as well as emerging markets like Bangladesh and Vietnam, has bolstered the demand for GMS in Asia Pacific.
North America glycerol monostearate (GMS) market is expected to grow with the fastest CAGR, due to the growing demand for personal care products in the region. In North America, glycerol monostearate is widely used in the manufacturing of organic and chemical-free personal care & cosmetic products such as creams, shampoos, soaps, and more. Additionally, the rising number of the working population present in the region is predicted to raise the demand for glycerol monostearate in the forecast period.
The US glycerol monostearate market is expected to augment as consumers are increasingly seeking products with clean and transparent labels, which has led to a shift away from synthetic additives. GMS, being a naturally derived compound from fats and oils, fits well into this trend.
Market Segmentation Analysis:
Less than 90% segment acquired majority of share in the market in 2023, as owing to the less than 90% glycerol monostearate finds applications in the food industry as it helps improve the texture, consistency, and shelf life of food products. Whereas, more than 90% segment would have the fastest growing CAGR in the future, as it is widely utilized across an array of industries including food, pharmaceuticals, and cosmetics, it fulfills essential roles as a stabilizer, thickening agent, and emulsifier.
Emulsifier segment acquired majority of share in the market in 2023, as they are widely used in the food, agricultural, and pharmaceutical industries, as well as hair care products, cosmetics, paints, inks, and other products. Whereas, thickening segment would have the fastest growing CAGR in the future, because GMS has excellent thickening properties, especially in water-based systems. It forms stable emulsions and helps improve the viscosity and texture of products, making them more appealing to consumers.
Food and beverage segment acquired majority of share in the market in 2023, due to its emulsification and stabilizing properties, GMS helps extend the shelf life of many food products. By preventing ingredients from separating or deteriorating, manufacturers can offer products with longer expiration dates, reducing waste and improving consumer satisfaction. Whereas, personal care segment would have the fastest growing CAGR in the future, because GMS is primarily utilized as a thickening agent, enhancing the texture and consistency of products such as lotions, creams, and moisturizers. By providing a thicker and more luxurious feel, GMS contributes to the stability and aesthetic appeal of these formulations.
Competitive Landscape and Recent Developments:
The key players are constantly investing in strategic initiatives, such as new launches, mergers & acquisitions, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in in February 2023, Palsgaard, a supplier of plant-based additives for plastics, conducted a study in Malaysia to qualify its Einar 201 mold release agent for automotive PP applications. Einar 201, derived from renewable sources, offers excellent performance, denesting, and sustainability benefits, contributing to reduced carbon footprints in the plastics industry.
Market Dynamics
Growth Drivers
- Growing Demand in the Cosmetic and Personal Care Industry
- Rising Demand of Glycerol Monostearate (GMS) in Chemical Industry
- Increasing Demand in Foods and Convenience Products
- Amplified Disposable Income
Challenges
- Availability of Substitutes
- Stringent Regulations
Market Trends
- Development of Clean-label Plant-based Alternatives
- Surging Awareness and Investments
Key Players
- Evonik Industries AG
- BASF SE
- Wilmar International Limited
- Croda International Plc
- Kao Corporation
- Stepan Company
- Nouryon
- Loba Chemie Pvt Ltd
- Aseschem
- Guangzhou Cardlo Biochemical technology Co., Ltd.
- Estelle Chemicals Pvt Ltd
- Alpha Chemicals Private Limited
- ACM Chemicals
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