Global Beeswax market-An Overview
It’s being expected that by 2029, the Beeswax market cap will hit USD 0.67 billion at a CAGR growth of about 3%.
Moreover, the product is used in the production of candles used for varied purposes. Beeswax also forms an essential ingredient in manufacturing shoe as well as furniture polish. Furthermore, beeswax in pharmaceutical industry is used as an important element in surgical bone wax that is used basically to control bleeding from bone surface at time of surgery. Hence, demand for beeswax is expected to remain high in upcoming years. Moreover, growth of this end-use industry is estimated to impel the growth of beeswax industry over next seven years.
The beeswax market across the world is segmented by different product type, application, nature and demography. Further, beeswax market’s application segment is sub-divided into cosmetics, food and industrial. The product has got varied applications in cosmetics, it is majorly used in eye liners, moustache wax and hair pomade. In food industry, product is sub divided into bakery, confectionary, nuts & snacks and fruits.
Likewise, product type segment of beeswax market is bifurcated to white beeswax, yellow beeswax as well as absolute beeswax. In addition, absolute beeswax is prepared by reacting ethanol along with yellow beeswax. Similarly, nature segment of global beeswax market is sub-segmented into organic plus conventional. Organic segment of the products has relatively got low share as compared to conventional segment of the product. However, trend for organic products has extensively picked up the pace and is expected to gain a substantial high growth rate over the forecast period.
Geographical segmentation of the beeswax industry focuses over certain key regions including Europe, North America, Asia Pacific and Rest of the World. Besides, India is expected to acquire a major global beeswax market share of the regional market because of the high demand from pharmaceutical business. Moreover, developing countries of Asia Pacific region are anticipated to propel the global market by the end of the forecast period owing to increasing consumption of certain diseases plus high disposable income. This will further boost the developing rate of economies like India & China. On the other hand, Africa will probably exhibit minimal growth due to the rising of manufacturing companies in the region.
Some of the major beeswax producing countries include Republic of Korea, Australia, Argentina, China, India, Turkey and Ethiopia. Moreover, one of the premium wax producing company in Australia named Capilano Honey has been the major exporter of beeswax. It used to export almost 170 tons of beeswax to Asia, US and Europe.
The global beeswax market is highly competitive and fragmented with prominent players operating in the market. Some of the key players include Seidler Chemical Co., Dabur India Ltd., Bulk Apothecary, Jedwards International Inc., Pacific Coast Chemicals, Frank B Ross Co, City Chemical LLC, TMC Industries, Roger A Reed Inc., Shandong Bokang Apiculture Co. Ltd., Hase Petroleum Wax Co., Alfa Chemical Corp, Aroma Naturals Inc., Thomas Apiculture SAS, Chengdu Feng’s Apiculture Co. Ltd, Glenn Apiaries, Dutch Gold Honey, Luberon Apiculture and Miller’s Honey Company.
Beeswax Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 0.67 billion|
|Growth Rate||CAGR of 3 % during 2021-2029|
|Segment Covered||by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Seidler Chemical Co., Bulk Apothecary, Miller’s Honey Company, Aadra International, and Koster Keunen.|
Key segments of the global Beeswax market
by Application 2018-2029 (USD Million)
• Cosmetic & Personal Care
• Metal Casting Molding
• Candle Manufacturing
• Wood & Leather Finishes
• Industrial Lubricants
• Waterproofed Textiles
Regional Overview, 2018-2029 (USD Million)
• North America
o Rest of Europe
o Southeast Asia
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
• Central & South America
o Rest of South America