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Pharmacy benefit management market
Glycerol Monostearate (GMS) Market REPORT OVERVIEW
global glycerol monostearate (gms) market size was USD 1006.8 Million in 2022 and market is projected to touch 1331.14 Million by 2031, exhibiting a CAGR of 3.1% during the forecast period 2022-2031.
Glycerol Monostearate (GMS) is a food additive and emulsifier commonly used in the food industry. It is a white, odorless, and tasteless powder derived from glycerol and stearic acid. GMS is versatile and widely employed to stabilize emulsions, control crystallization, and enhance texture in various food products like ice cream, baked goods, and dairy items.
Its ability to improve shelf life, appearance, and mouthfeel makes glycerol monostearate a popular ingredient in food formulations. These are considered as the factors driving the glycerol monostearate (GMS) market growth.
COVID-19 Impact: Closure of Restaurants and Foodservice Establishments During Pandemic Increased Market Growth
The COVID-19 pandemic has had mixed effects on the demand for Glycerol Monostearate (GMS). Initially, there was a surge in demand for packaged and processed foods, including products that utilize GMS as an emulsifier and stabilizer. However, disruptions in the supply chain and transportation restrictions impacted the availability of raw materials and hindered production.
Additionally, the closure of restaurants and foodservice establishments resulted in reduced demand for certain food products containing GMS. Nonetheless, as the food industry adapted to changing consumer behaviors, the demand for GMS gradually stabilized, with manufacturers implementing safety measures to ensure continued supply during the pandemic.
LATEST TRENDS
"Development of Clean-label Plant-based Alternatives to Fuel Market Growth"
Innovative trends in Glycerol Monostearate (GMS) focus on enhancing its functionality and application in various industries. One 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. Another trend is the utilization of GMS in non-food applications, such as personal care products and pharmaceuticals, owing to its emulsifying and stabilizing properties. These trends showcase the continuous efforts to innovate and expand the applications of Glycerol Monostearate in diverse industries.
Glycerol Monostearate (GMS) Market SEGMENTATION
- By Type:
The market can be divided on the basis of type into the following segments:
Emulsifier, thickening, anti-caking, stabilizer, and, others. The emulsifier segment is anticipated to dominate the market during the forecast period.
- By Application:
Classification based on application into the following segment:
Food & beverage, cosmetic, pharmaceutical, and, others. The food & beverage segment is predicted to dominate the market during the research period.
DRIVING FACTORS
"Rapidly Growing Food and Beverage Industry to Propel Market Growth"
Several driving factors contribute to the increasing demand for Glycerol Monostearate (GMS). Firstly, the expanding food and beverage industry relies heavily on GMS as an emulsifier and stabilizer, enhancing the texture and shelf life of various products. Secondly, the rising consumer preference for clean-label and natural ingredients drives the demand for plant-based GMS alternatives.
Moreover, the growth of the personal care and pharmaceutical sectors propels the use of GMS in cosmetics and medication formulations. Additionally, the versatility of GMS in various applications, including plastics, textiles, and industrial processes, further fuels its prominence, making it a sought-after ingredient in multiple industries. These factors play an important role in promoting market development.
"Rising Awareness About Low-fat Food Options to Accelerate Market Growth "
In addition to the mentioned driving factors, several other key elements contribute to the increasing demand for Glycerol Monostearate (GMS). The growing trend of convenience foods and ready-to-eat products in the modern lifestyle boosts GMS utilization as a versatile food additive, ensuring product stability and texture.
The rising awareness of health benefits associated with low-fat or reduced-calorie food options also drives the demand for GMS as a replacement for higher-fat ingredients. Furthermore, GMS finds extensive application in the pet food industry for similar reasons, as it enhances palatability and texture in pet food formulations. These factors collectively support the glycerol monostearate (GMS) market share.
RESTRAINING FACTOR
"Regulatory Changes and Stringent Quality Standards to Decrease Market Growth"
Several restraining factors can impact the growth of (GMS) in the market. One significant factor is the volatility in raw material prices, particularly those related to the production of glycerol and stearic acid, which can affect the overall production cost of GMS. Additionally, regulatory changes and stringent quality standards in the food and pharmaceutical industries can pose challenges for manufacturers.
Moreover, the availability of alternative emulsifiers and stabilizers in the market may lead to substitution, limiting the demand for GMS. Furthermore, fluctuations in consumer preferences and the potential negative health perceptions associated with certain emulsifiers can also restrain the growth of Glycerol Monostearate. The above-mentioned factors can bring down the market price.
Glycerol Monostearate (GMS) Market Regional Insights
"Asia Pacific to Dominate Market Share in Upcoming Years"
Asia-Pacific emerges as the leading region in the Glycerol Monostearate (GMS) market. The region's dominance can be attributed to several factors. Firstly, the rapid growth of the food and beverage industry in countries like China, India, and Southeast Asian nations drives substantial demand for GMS as a versatile emulsifier and stabilizer.
Secondly, the booming cosmetics and personal care sector in the region contributes to the increasing utilization of GMS in beauty and skincare products. Moreover, the presence of a well-established pharmaceutical industry also fuels the demand for GMS as an excipient in medication formulations. These factors combined make Asia-Pacific a key player in the Glycerol Monostearate market.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- BASF SE (Germany)
- Nouryon (Netherlands)
- Volkem Chemical LLP (India)
- Croda International (U.K.)
- Estelle Chemicals Pvt. Ltd (India)
- Alpha Chemicals Pvt Ltd (India)
- Marathwada Chemicals (India)
- Gujarat Amines (India)
- Liberty Chemicals (India)
- R. M. CHEMICALS (India)
- Maher Chemical Industries (India)
- Acm Chemicals (India)
- Jeevika Yugchem Private Limited (India)
- Mohini Organics Pvt. Ltd (India)
- Corbion (Netherlands)
- Dupont (U.S.)
- Schulman (U.S.)
- Arkema (France)
- Evonik Industries (Germany)
- Solvay (Belgium)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The top industrial players along with the region that dominates the market has also been given for the readers to know.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1006.8 Million in 2022 |
Market Size Value By |
US$ 1331.14 Million by 2031 |
Growth Rate |
CAGR of 3.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the glycerol monostearate (GMS) market expected to touch by 2031?
The glycerol monostearate (GMS) market size is expected to reach USD 1331.14 Million by 2031.
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What CAGR is the glycerol monostearate (GMS) market expected to exhibit by 2031?
The glycerol monostearate (GMS) market is expected to exhibit a CAGR of 3.1% by 2031.
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Which are the driving factors of the glycerol monostearate (GMS) market?
Its ability to improve shelf life, appearance, and mouthfeel makes glycerol monostearate a popular ingredient in food formulations. These are considered as the factors driving the glycerol monostearate (GMS) market growth.
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Which is the leading region in the glycerol monostearate (GMS) market?
Asia Pacific is the leading region in the glycerol monostearate (GMS) market.
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Which are the key players or most dominating companies functioning in the glycerol monostearate (GMS) market?
BASF SE, Nouryon, and, Volkem Chemical LLP are the top companies operating in the glycerol monostearate (GMS) market.