Global polyglycerol market research report: by product type (PG2, PG3, PG4, PG6, PG10), by end-user industry (Food & Beverages, Pharmaceuticals, Personal Care, Others) – Forecast till 2023
Pune, India -- (SBWIRE) -- 03/22/2018 -- Polyglycerols are used in a wide range of end-use industry owing to their application as surfactant, stabilizing and emulsifying agent among others. The rising growth of the pharmaceutical and cosmetic and healthcare industries across the globe is substantially affecting the growth of the Polyglycerol Market.
The Global Polyglycerol Market has been driven by a range of application in the various end-use industries such as food & beverages, pharmaceuticals, personal care among others. Moreover, it is estimated that the personal care industry is set to witness the highest growth due to the growing application of Polyglycerols in moisturizers, hair care and other personal care products.
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.
Some of the prominent players operating in the Global Polyglycerol Market are, Procter & gamble (U.S.), SOLVAY( Belgium), Unilever Holdings (England), Godrej Industries Ltd (India)., Dow Chemical Company (U.S.), The Lonza Group (Switzerland), The Hershey Company (U.S.), Stepan Company(Illinois), Savannah Surfactants (India), and Palsgaard (Denmark) among others.
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The PG3 product segment is anticipated to observe a higher CAGR during the forecast period. The enhanced and superior qualities of Polyglycerols find their application in the food & beverage and the detergent industry. PG3 is used in margarines, chocolates, baked products and in other fat substitution applications. Moreover, it is also used as surfactant in the detergent industry owing to its improved texture, softness, and fragrance of the product.
The Global Polyglycerol Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as food and beverage, personal care, home care, and automotive among others, which, in turn, is anticipated to fuel the demand for Polyglycerol in the region. Moreover, the growing processed food demand mainly in Japan, India and China is also expected to contribute to the market.
The European region is estimated to witness a significant growth in the countries owing to burgeoning personal care and automobile industry. The increasing use of Polyglycerol by the health conscious population owing to the low fat content coupled with the increased use in food products is expected to be one of the major factors contributing to growth of the market.
The North American Polyglycerol Market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growing use in processed food, salad dressings, lotions, detergents, and hair care among others is fuelling the growth of the polyglycerol market in this region.
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