It is generally produced from animal fats which includes beef tallow. Beef fat contains higher amount of stearic acid hence beef fat is used vigorously. It is also produced from some vegetable fats which includes palm oil. Palm stearin is derived from palm oil by partial crystallization with processing oil at controlled temperature conditions. The derived solid fraction of oil is called as palm stearin.
Top Impacting Factors
Food industry is taking a boom globally. The demand for variety of packaged food is increasing at a significant rate. The glyceryl tristearate derived from the palm oil has a wide application in food industry which include production of bakery fats, including vanaspati, margarine, shortening, and others. Hence the rise in demand for food products propels the market growth of this during the forecast period.
Moreover, palm based glyceryl tristearate is also used in production of cosmetics and personal care products. In cosmetics, glyceryl tristearate is used to enrich and stabilize emulsion and also as a thickening agent to provide smooth texture to creams and other cosmetics. In person care products such as soaps glycerol tristearate is used as hardening agent. Hence increasing demand for cosmetics and personal care products contributes in boosting growth of this market.
Factors such as use of mineral oils as a substitute to triglycerides in the cosmetic industry restraint the market growth during the forecast period. The consumption of mineral oil in cosmetics is considered as cost-effective in the cosmetic industry which impact negatively on the demand of glyceryl tristearate.
Apart from food and cosmetic products, glycerol tristearate is also used in pharmaceutical products such as creams, sanitizers, and body washes which attributes to propel the growth of glyceryl tristearate during the forecast period. Moreover, the palm-based glyceryl tristearate is also used as an alternative for fuel oil in lubricant, surfactants, detergents, paint dyes, and others hence this increasing application of glycerol tristearate tends to create lucrative opportunities which will elevate the growth of market during the forecast period.
The glycerol tristearate market is segmented on the basis of application, end-user, and region. By application, it is divided into hardening agent, release agent, lubrication, chemical synthesis, drug delivery systems, and others. By end-user, it is segregated into pharmaceuticals, cosmetics and personal care, food and beverage, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By application: The glycerol tristearate market is divided into hardening agent, release agent, lubrication, chemical synthesis, drug delivery systems, and others. There is wide demand for hardening agent in soaps and candles. These products are required in day-to-day life and is expected to hold the largest market share in the global glyceryl tristearate market.
By end-user: The market is categorized into pharmaceuticals, cosmetics and personal care, food & beverage, and others. There is high demand for cosmetics and personal care products as people are more cautious related to personal grooming and physical appearance which boosts the demand for cosmetics and personal care products.
By region: Glyceryl tristearate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America holds the largest share in the global glycerol tristearate market as there in wide use of packaged food owing to high demand for convenience food products in the region. The high consumption of palm stearin owing to mature cosmetics and personal care industry in European market is likely to boost the sales of this in the forecast period.
Asia-Pacific holds a significant market share in glycerol tristearate market as the production of palm oil is concentrated across Asia-pacific. Asian countries which include Indonesia and Malaysia are the largest producer of palm oil which is one and only vegetable fat source for glycerol tristearate thus elevating the market share globally. Moreover, the rise in population and rise in consciousness about external beauty contributes in boosting the demand for this in cosmetic and personal care industry.
Competitive analysis and profiles of the key market players in the glycerol tristearate market including Biosynth, BOC Sciences, HiMedia Laboratories Pvt. Ltd., MedKoo Biosciences, Inc., Parchem Fine and Specialty Chemicals, PCC Group, Sisco Research Laboratories Pvt. Ltd. (SRL), Toronto Research Chemicals, TCI America, and VENUS. These players are focusing on expanding their production capacities, as well as developing new products, in order to stay ahead of the competition. In addition, companies are also investing in R&D activities, to develop new and innovative products.
Acquisition and mergers
Acquisition or merger of the trending technologies and the manufacturer helps the company to improve the product offering and adds more R&D facilities to the business. For Instance, In November 2021, Biosynth Carbosynth, and Jinan Shengquan Grouo Share-Holding Co. Ltd. acquired Kexing Biopharmaceutical Co. Ltd’s raw material factory in Jinan, China. With this acquisition, Biosynth Carbosynth’s and Shengquan’s joint venture Carbotang expands the production capacities significantly. This acquisition will allow more flexibility and larger production volumes together with an increased production reliability.
Glycerol Tristearate Market Report Highlights
Key Market Players
Toronto Research Chemicals, Biosynth, VENUS, PCC Group, sisco research laboratories pvt. ltd. (srl), TCI America, BOC Sciences, himedia laboratories pvt. ltd., Parchem Fine and Specialty Chemicals, MedKoo Biosciences, Inc.