Polyglycerols (PGs) are inter-molecular glycerol ethers formed by the condensation of “n” (two or more) glycerol molecules with elimination of “n-1” water molecules. They are a viscous, slightly hygroscopic liquid. They are also Soluble in water, alcohols and glycerol in all proportions.
Increase in demand for low fat foods is expected to supplement the growth of polyglycerol market in the next few years. Ongoing product innovation, consumer preferences for high-quality products, along with increasing government food regulations are expected to aid the growth of the polyglycerol market.
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Fluctuation in the price of raw materials due to variation in their availability is anticipated to impact the final price of polyglycerols, thereby posing as a major obstacle for the polyglycerol market.
The polyglycerol market can be segmented based on application (personal care, food & beverage, pharmaceutical, textile, etc.), products (PG-2, PG-3, PG-4, PG-6, PG-10, etc.), and region (North America, Asia, Europe, Middle East & Africa, and Latin America).
Personal care was the largest application segment, accounting for the dominant share of the global polyglycerol market in 2014. The global personal care industry is expected to witness high growth in the near future owing to the rise in demand for body lotions and moisturizers coupled with increase in consumer awareness and high disposable income.
Extensive consumption of emulsifiers in food products such as salad dressings, peanut butter, chocolate, margarine, and frozen desserts is expected to propel the demand for polyglycerol market during the forecast period. In terms of volume, demand for polyglycerol in the pharmaceutical industry is anticipated to rise at a significant CAGR globally. Increase in the need for pharmaceutical grade creams and other medicines as antibiotics to heal new diseases and the ongoing extensive research in the field are expected to augment the demand for polyglycerols during the forecast period. Furthermore, steady growth of the textile industry in China, India, and other emerging markets has been a key factor driving the polyglycerol market owing to its use as textile lubricant.
PG-2 (di glycerol) and PG-3 (tri glycerol) esters that are extensively used in the food industry, especially in ice-creams, margarines, cakes, baked products, chocolates, and in fat substitution applications, are expected to boost the growth of the polyglycerol market.
PG-4 (tetra glycerol) used as a surfactant in the detergents industry helps in improving texture, fragrance, and softness of the product.
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Asia Pacific was the largest region, accounting for the dominant market share of the global polyglycerol market in 2014. This can be ascribed to the positive outlook of the personal care industry in China, India, and Japan in light of rising consumer spending coupled with research and development in new personal care formulations undertaken by several companies. Europe was the next leading market of polyglycerol volume after Asia Pacific. Extensive usage of polyglycerol in the food & beverage industry in Germany and the U.K. is expected to be a key driver of the polyglycerol market in the region. Companies in North America are making huge investing in research and development for producing efficient polyglycerol and are trying to maximize the yield. Latin America is expected to witness significant growth in the polyglycerol market on account of the growing food & beverage industry.
Top global players present in the polyglycerol market include Procter & gamble, SOLVAY, Unilever Holdings, Godrej Industries Ltd., and Dow Chemical Company.