Zion Market Research has published a new report titled “Glycerol Monostearate Market by Application (Emulsifier, Thickening, Anti-Caking, Stabilizer and Other Applications) in Food & Beverage, Cosmetic, Pharmaceutical and Other End Users: India Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022. According to the report, demand for glycerol monostearate market in India was valued at over USD 62.04 million in 2016 and is expected to reach above USD 85.30 billion in 2022, growing at a CAGR of slightly above 5.2% between 2017 and 2022.
Glycerol monostearate is a glycerol ester of stearic acid used as a food additive. It is a sweet flaky powder that is hygroscopic in nature. Glycerol monostearate occurs in our body as a result of the breakdown of fats by the pancreatic lipase. However, glycerol monostearte is also manufactured commercially and used as an emulsifier.
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Glycerol monostearate is widely used in the food industry as an emulsifier and thickening agent. Rapidly growing cosmetics industry is likely to foster the growth of glycerol monostearate market within the forecast period. Furthermore, use of glycerol monostearate as a stabilizer in the pharmaceutical sector is anticipated to boost the glycerol monostearate market growth. However, presence of several substitutes in the market may obstruct the growth of the glycerol monostearate in the future. Nevertheless, growing food industry is expected to offer ample opportunities for the glycerol monostearate market in the coming years.
Based on applications, the glycerol monostearate market can be segmented as emulsifier, thickening, anti caking, stabilizer and others. Emulsifier dominated the glycerol monostearate market in 2016 owing to high usage of glycerol monostearate as emulsifier in food & beverages and cosmetics industry. Thickening and stabilizer are expected to emerge as potent segments within the forecast period. The glycerol monostearate is utilized in various end user industries such as food & beverage, pharmaceutical, cosmetic and other end user. Food & beverage held a remarkable market share in the glycerol monostearate market in 2016. This can be attributed to the use of glycerol monostearate as emulsifier, thickener and stabilizer. Glycerol monostearate can also be used as flavor enhancers and anti caking agents in the food industry. Cosmetics industry is likely to gain traction in the forecast period.
There has been a tremendous rise in food & beverage industry in India which is expected to spur the glycerol monostearate market growth within the forecast period. India held the third highest share in the pharmaceutical market in terms of volume and fourteenth in terms of value across the globe. This factor is expected to positively impact the growth of glycerol monostearate market in the coming years. Other factors contributing to the splendid growth of glycerol monostearate in India is the massive consumption of baked products and sharp rise in cosmetics industry.
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Some of the key players in the glycerol monostearate include Volkem Chemical LLP, Estelle Chemicals Pvt. Ltd., Alpha Chemicals Pvt Ltd, Marathwada Chemicals, Gujarat Amines, Liberty Chemicals, R. M. CHEMICALS, Maher Chemical Industries, ACM Chemicals, Jeevika Yugchem Private Limited, Mohini Organics Pvt. Ltd and Techno Phramchem. Presence of several manufacturers in glycerol monostearate market has contributed to the intense competition among the players to sustain in the market.
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