Market Synopsis of Mexico Glycerine Market:
The market for Mexico Glycerine Market has been increasing tremendously, specifically in East Mexico, owing to rise in the populations in this region resulting to increasing in demand for cosmetics & Personal Care industry. Additionally, food industry growth typically follows the growth of these key end markets. The demand from cosmetics & personal care industry for glycerine is increasing day by day in Mexico due to the constant innovation of the product in these industry. West Mexico is the second largest consumer of glycerine especially in terms of food & beverages and cosmetic products. However, the production of glycerine in Mexico is very low. To fulfil the consumption demand, Mexico imports glycerine in bulk quantity. In-addition, According to, market research, there is a tremendous opportunity for new comers or glycerine manufacturers to collaborate and expand the business to fulfil the gap between supply and demand in this sector.
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In-addition, the production of glycerine is very less however the consumption is high so there is a huge entrance for the manufacturers to collaborate or expand the production facility to fulfill the gap between the supply and demand.
Mexico Glycerine Market – Key Players
The key players in market includes
- Cargil Inc.,
- Kao Chemicals,
- Quimic SA de CV,
- Quimica Delta,
- Oxiteno Mexico SA de CV.
Mexico Glycerine Market – Key Findings
- Mexico glycerine market is projected to reach 106.4 USD million by 2023 with 5.1% CAGR during the forecast period of 2017-2023.
- East Mexico accounted for largest share due to relatively high consumption and industries in the region. However, West Mexico accounted for second largest share in the region.
- East Mexico market is estimated to exhibit highest CAGR of 5.39% owing to increasing population and consumption demand.
Mexico Glycerine Market – Regional Analysis
As per MRFR analysis East Mexico dominated the Mexican glycerine market and has accounted for the largest share of 40% in 2016 and projected to grow at CAGR of 5.39%. East Mexico market is followed by West Mexico (30%) and South Mexico (20%) with growth at CAGR of 5.20% and 4.5% respectively. Moreover, East Mexico market will witness growth above average with respect to demand of the same throughout the forecast period driven by strong growth in cosmetic & personal care and food industry in the region.
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Mexico Glycerine Market – Segmentation
In terms of volume, West Mexico, South Mexico and North Mexico are expected to witness robust growth during the forecast period. Availability of skilled manpower, cheap labor are some of the factors driving the glycerine consumption market in these regions. Mexican glycerine market has been changing constantly in terms of applications, technologies, innovation and performance along with the product innovations and developments and hence the demand for glycerine is also growing with newer applications and growth of end user industries. A large part of demand for glycerine comes from various end-use industries such as cosmetics & personal care, food, tobacco and resin industry.
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