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

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 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. The global glycerol monostearate (GMS) market value is projected to grow at a CAGR of 4.22%, during the forecast period of 2024-2029.

Market Segmentation Analysis:

By Purity: According to the report, the global glycerol monostearate (GMS) market is segmented into two purity: Less than 90% and More than 90%. 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.

By Type: According to the report, the global glycerol monostearate (GMS) market is segmented into five types: Emulsifier, Thickening, Anti-Caking, Stabilizer, and Others. 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.

By Application: According to the report, the global glycerol monostearate (GMS) market is segmented into four applications: food and beverage, pharmaceuticals, personal care and cosmetics and others. 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.

By Region: The report provides insight into the glycerol monostearate (GMS) market based on the supply, namely Asia Pacific, North America, Europe, and Rest of the World. 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.

Global Glycerol Monostearate (GMS) Market Dynamics:

Growth Drivers: Growing demand in the cosmetic and personal care industry plays a pivotal role in driving growth in the global glycerol monostearate (GMS) market as Glycerol monostearate is used in the manufacturing of various cosmetics and personal care products such as creams, shampoos, toiletries, lotions, and makeup ingredients. GMS is an effective emulsifier, which means it helps in blending oil and water-based ingredients in cosmetic formulations. Further, the market is expected to increase due to rising demand of glycerol monostearate (GMS) in chemical industry, increasing demand in processed foods and convenience products, amplified disposable income, etc.

Challenges: The market's expansion is projected to be hampered by availability of substitutes, as manufacturers face competition from synthetic emulsifiers, as well as natural alternatives such as lecithin and guar gum, which offer similar functionalities and may be preferred by some consumers. Moreover, with the increasing demand for natural and clean-label products, natural emulsifiers derived from sources like plant oils, beeswax, and gums are gaining popularity. The other challenges that glycerol monostearate (GMS) market faces include stringent regulations, etc.

Trends: One of the most distinct and pervasive trends observed in the global glycerol monostearate (GMS) market is development of clean-label plant-based alternatives. Clean-label claims, such as "plant-based" or "vegan," are prominently featured on packaging to appeal to health-conscious and environmentally aware consumers. The trend involves the development of clean-label and plant-based GMS alternatives to meet the rising demand for natural ingredients in food products. Additionally, manufacturers are exploring novel methods to modify GMS for specific functionalities, such as improving the stability of emulsions or creating specialized textures. More trends in the market are believed to augment the growth of glycerol monostearate (GMS) market during the forecasted period include, surging awareness and investments, etc.

Impact Analysis of COVID-19 and Way Forward:

The COVID-19 negatively impacted the glycerol monostearate (GMS) market. The restrictions imposed by various nations to contain COVID had stopped the demand and supply resulting in a disruption across the whole supply chain. It has led to either closure or suspension of their production activities in most industrial units across the globe.

Competitive Landscape and Recent Developments:

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. Key players of global glycerol monostearate (GMS) market are:

• 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

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.