The global Bio-Based Propylene Glycol Market size was USD 4.32 Billion in 2022 and is expected to register a revenue CAGR of 4% over the forecast period, according to the latest report by Reports and Data.
Propylene glycol, an odorless and colorless liquid, is a common humectant, solvent, and preservative in many end-use industries.
One of the major factors driving revenue growth in the bio-based propylene glycol market is rising demand for environmentally friendly and sustainable products. As customers become more conscious of the environmental impact of their purchasing decisions, there is a growing demand for goods made from renewable resources and with a low carbon footprint. Bio-based propylene glycol is made from renewable resources such as corn, sugarcane, and other biomass sources, making it a more environmentally friendly option than petroleum-based propylene glycol.
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Major Companies:
The global bio based propylene glycol market is expected to grow significantly in the coming years, driven by increasing demand for eco-friendly and sustainable products across various industries such as food and beverages, pharmaceuticals, and cosmetics. The market is fairly consolidated, with a few large players dominating the market revenue. Some major companies included in the global bio based propylene glycol market report are:
- Dupont Tate & Lyle Bio Products Company, LLC.
- Ashland Inc.
- Archer Daniels Midland Company
- The Dow Chemical Company
- Global Bio-Chem Technology Group Company Limited
- Oleon NV
- LyondellBasell Industries N.V.
- BASF SE
- SKC Co. Ltd.
- Oleon NV
Some Key Highlights from the Report
Propylene glycol derived from renewable bio-based sources is expected to hold a substantial revenue share in the global market throughout the forecast period. This can be attributed to the growing adoption of environmentally friendly and sustainable manufacturing practices across various sectors, including pharmaceuticals, cosmetics, and the food and beverage industry. Furthermore, the expansion of the renewable segment is projected to be driven by the heightened demand for bio-based products due to increasing environmental awareness and concerns.
The food and beverage segment is expected to have a significant revenue share in the global market throughout the forecast period. This can be attributed to rising health concerns and a push for clean labeling, both of which have increased demand for bio-based food additives and preservatives. Bio-based propylene glycol is used as a food ingredient and preservative in many food and beverage products, including baked goods, dairy goods, and beverages. Furthermore, because it is non-toxic and non-allergenic, bio-based propylene glycol is a safer alternative to conventional synthetic additives.
Key questions addressed in the report:
- What is the expected market size of the global Bio-Based Propylene Glycol market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Bio-Based Propylene Glycol market?
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Bio-Based Propylene Glycol Market Segmentation:
By Source Type Outlook:
- Renewable
- Non-Renewable
By Application Outlook:
- Food and Beverage
- Cosmetics
- Pharmaceutical
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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