Asia: Beeswax Market 2022

Beeswax Market Size in Asia

The Asian beeswax market dropped significantly to $X in 2021, with a decrease of -X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain the momentum.

Beeswax Production in Asia

In value terms, beeswax production reduced slightly to $X in 2021 estimated in export prices. The total production indicated a notable expansion from 2007 to 2021: its value increased at an average annual rate of +X% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2019 indices. The growth pace was the most rapid in 2011 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

The countries with the highest volumes of beeswax production in 2021 were India (X tonnes), China (X tonnes) and Turkey (X tonnes), with a combined X% share of total production. South Korea and Vietnam lagged somewhat behind, together comprising a further X 2007 to 2021, the most notable rate of growth in terms of beeswax production, amongst the key producing countries, was attained by Vietnam, while beeswax production for the other leaders experienced more modest paces of growth.

Production By Country in Asia

The countries with the highest volumes of beeswax production in 2021 were India (X tonnes), China (X tonnes) and Turkey (X tonnes), with a combined X% share of total production. South Korea and Vietnam lagged somewhat behind, together comprising a further X 2007 to 2021, the most notable rate of growth in terms of beeswax production, amongst the leading producing countries, was attained by Vietnam, while beeswax production for the other leaders experienced more modest paces of growth.

Beeswax Exports

Exports in Asia

In 2021, shipments abroad of beeswax was finally on the rise to reach X tonnes after two years of decline. In general, exports recorded a prominent increase. Over the period under review, exports hit record highs at X tonnes in 2015; however, from 2016 to 2021, exports remained at a lower figure.

In value terms, beeswax exports rose sharply to $X in 2021. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. Over the period under review, exports reached the maximum at $X in 2015; however, from 2016 to 2021, exports remained at a lower figure.

Exports by Country

China dominates beeswax exports structure, reaching X tonnes, which was approx. X% of total exports in 2021. Vietnam (X tonnes) and India (X tonnes) took a little share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2021. At the same time, India (+X%) and Vietnam (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2021. From 2007 to 2021, the share of China increased by +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, beeswax exports expanded at an average annual rate of +X% over the period from 2007-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+X% per year) and India (+X% per year).

Export Prices by Country

The beeswax export price in Asia stood at $X per tonne in 2021, reducing by -X% against the previous year. Over the period under review, the export price saw a mild curtailment. The pace of growth was the most pronounced in 2016 when the export price increased by X% y-o-y. As a result, export price attained the peak level of $X per tonne. from 2017 to 2021, the growth in terms of the export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam, while the other leaders experienced mixed trends in the export price figures.

Beeswax Imports

Imports in Asia

In 2021, approx. X tonnes of beeswax were imported in Asia; jumping by X% against the previous year's figure. Total imports indicated resilient growth from 2007 to 2021: its volume increased at an average annual rate of +X% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, beeswax imports soared to $X in 2021. Total imports indicated perceptible growth from 2007 to 2021: its value increased at an average annual rate of +X% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India was the largest importer of beeswax in Asia, with the volume of imports amounting to X tonnes, which was near X% of total imports in 2021. Japan (X tonnes) occupied an X% share (based on tonnes) of total imports, which put it in second place, followed by Uzbekistan (X%) and South Korea (X%). China (X tonnes), Oman (X tonnes), Pakistan (X tonnes), Syrian Arab Republic (X tonnes), the United Arab Emirates (X tonnes), Thailand (X tonnes), Iraq (X tonnes) and Lebanon (X tonnes) took a minor share of total imports.

From 2007 to 2021, average annual rates of growth with regard to beeswax imports into India stood at +X%. At the same time, Oman (+X%), Uzbekistan (+X%), the United Arab Emirates (+X%), China (+X%), Syrian Arab Republic (+X%), Pakistan (+X%), Lebanon (+X%) and Iraq (+X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2021. Thailand experienced a relatively flat trend pattern. By contrast, South Korea (-X%) and Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2021, the share of India, Uzbekistan and Oman increased by +X%, +X% and +X% percentage points, while Thailand (-X p.p.), South Korea (-X p.p.) and Japan (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest beeswax importing markets in Asia were Japan ($X), India ($X) and South Korea ($X), with a combined X% share of total imports. These countries were followed by China, Thailand, Pakistan, Oman, Iraq, Syrian Arab Republic, the United Arab Emirates, Lebanon and Uzbekistan, which together accounted for a further 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

In 2021, the beeswax import price in Asia amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. The level of import peaked at $X per tonne in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per tonne), while Uzbekistan ($X per tonne) was amongst the lowest.

From 2007 to 2021, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform