U.S. - Beeswax - Market Analysis, Forecast, Size, Trends and Insights
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U.S. - Beeswax - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Apr 5, 2022

U.S. Beeswax Market Rebounds to $25M

IndexBox has just published a new report: 'U.S. - Beeswax - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In 2021, after two years of decline, there was significant growth in the U.S. beeswax market, when its value increased by 40% to $25M. Overall, consumption enjoyed strong growth. The growth pace was the most rapid in 2018 when the market value increased by 46% year-to-year. Over the period under review, the market reached the maximum level at $32M in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production in the U.S.

In 2021, production of beeswax was estimated at 1.6K tonnes for the first time since 2018, thus ending a two-year declining trend. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 0.4% year-to-year. Beeswax production peaked at 1.6K tonnes in 2013; afterwards, it flattened through to 2021. Beeswax output in the U.S. indicated a relatively flat trend pattern, which was largely conditioned by a relatively flat trend pattern of the producing animals and a relatively flat trend pattern in yield figures.

In value terms, beeswax production contracted to $7.1M in 2021. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of 8.9% against the previous year. Beeswax production peaked at $7.5M in 2010; however, from 2011 to 2021, production remained at a lower figure.

Exports from the U.S.

In 2021, overseas shipments of beeswax decreased by -20% to 1.6K tonnes, falling for the fourth year in a row after two years of growth. Overall, exports, however, enjoyed a modest expansion. The pace of growth appeared the most rapid in 2010 with an increase of 58% against the previous year. Exports peaked at 3.6K tonnes in 2017; however, from 2018 to 2021, exports remained at a lower figure.

In value terms, beeswax exports fell to $7.7M in 2021. The most prominent rate of growth was recorded in 2010. Exports peaked at $16M in 2017; however, from 2018 to 2021, exports stood at a somewhat lower figure.

Exports by Country

Canada (476 tonnes), Germany (307 tonnes) and Chile (280 tonnes) were the main destinations of beeswax exports from the U.S., together comprising 54% of total exports.

From 2007 to 2020, the biggest increases were in Chile (+54.3% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($2.1M), Germany ($1.9M) and South Korea ($1.3M) constituted the largest markets for beeswax exported from the U.S. worldwide, together comprising 59% of total supplies. Mexico, Chile, China and France lagged somewhat behind, together accounting for a further 24%.

Export Prices by Country

The average beeswax export price stood at $4,482 per tonne in 2020, surging by 2.6% against the previous year. There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Germany ($6,160 per tonne), while the average price for exports to Chile ($1,954 per tonne) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced more modest paces of growth.

Imports into the U.S.

In 2021, after two years of decline, there was significant growth in purchases abroad of beeswax, when their volume increased by 31% to 3.9K tonnes. In general, total imports indicated temperate growth from 2007 to 2021: its volume increased at an average annual rate of +4.3% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 when imports increased by 31% y-o-y. Imports peaked at 4.5K tonnes in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, beeswax imports soared to $25M in 2021. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2012 when imports increased by 49% year-to-year. Over the period under review, imports hit record highs at $37M in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (971 tonnes), Vietnam (572 tonnes) and Tanzania (360 tonnes) were the main suppliers of beeswax imports to the U.S., with a combined 64% share of total purchases. Canada, Argentina, India and Togo lagged somewhat behind, together accounting for a further 31%.

In value terms, the largest beeswax suppliers to the U.S. were China ($5.5M), Vietnam ($3.8M) and Tanzania ($3M), with a combined 59% share of total imports.

Tanzania saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average beeswax import price amounted to $6,933 per tonne, growing by 2% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Tanzania ($8,454 per tonne), while the price for India ($5,489 per tonne) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Togo, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the beeswax market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• FCL 1183 - Beeswax
Country coverage:
• United States

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2021
Figure 22:
Production, In Value Terms, 2007–2021
Figure 23:
Producing Animals Slaughtered, 2007–2021
Figure 24:
Yield, 2007–2021
Figure 25:
Imports, In Physical Terms, 2007–2021
Figure 26:
Imports, In Value Terms, 2007–2021
Figure 27:
Imports, In Physical Terms, By Country, 2021
Figure 28:
Imports, In Physical Terms, By Country, 2007–2021
Figure 29:
Imports, In Value Terms, By Country, 2007–2021
Figure 30:
Import Prices, By Country Of Origin, 2007–2021
Figure 31:
Exports, In Physical Terms, 2007–2021
Figure 32:
Exports, In Value Terms, 2007–2021
Figure 33:
Exports, In Physical Terms, By Country, 2021
Figure 34:
Exports, In Physical Terms, By Country, 2007–2021
Figure 35:
Exports, In Value Terms, By Country, 2007–2021
Figure 36:
Export Prices, By Country Of Destination, 2007–2021
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