Asia: Beeswax Market 2024

Beeswax Market Size in Asia

The Asian beeswax market shrank slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Beeswax Production in Asia

In value terms, beeswax production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Malaysia (X tons), India (X tons) and China (X tons), together comprising X% of total production. Turkey, South Korea and Vietnam lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Beeswax Exports

Exports in Asia

In 2022, shipments abroad of beeswax increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, beeswax exports expanded significantly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the largest exporter of beeswax, making up X% of total exports. It was distantly followed by Vietnam (X tons), mixing up a X% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to beeswax exports from China stood at X%. At the same time, Vietnam (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of China, Vietnam and India increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest beeswax supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price posted a resilient increase. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Beeswax Imports

Imports in Asia

Beeswax imports dropped to X tons in 2022, shrinking by X% on 2021 figures. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, beeswax imports contracted to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) represented the largest importer of beeswax, making up X% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together committing a X% share of total imports. The following importers - Thailand (X tons), the Philippines (X tons), China (X tons), Pakistan (X tons), Turkey (X tons), Syrian Arab Republic (X tons) and Iraq (X tons) - together made up X% of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), the Philippines (X%), China (X%), South Korea (X%) and Syrian Arab Republic (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Thailand (X%), Pakistan (X%) and Turkey (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), India ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. China, Thailand, Turkey, the Philippines, Iraq, Pakistan and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :