The substance is also known as glycerol or propanetriol and is a thick sugary alcohol, which is part of all fatty substances.
Glycerine is highly hygroscopic i.e. capable of absorbing water/steam from its’ surroundings and thereby retains moisture. This is used in cosmetics, where it is added to creams as a moisturizing and moisture-retaining ingredient.
Glycerine is also added as a stabilizer and emulsifier in order to ease and stabilize the mix of fatty and watery ingredients.