Asia-Pacific: Beeswax Market 2024

Beeswax Market Size in Asia-Pacific

The Asia-Pacific beeswax market fell modestly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Beeswax Production in Asia-Pacific

In value terms, beeswax production dropped 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 only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

In 2022, overseas shipments 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 curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports rose remarkably to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China was the main exporter of beeswax in Asia-Pacific, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Vietnam (X tons), committing 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-Pacific, with a CAGR of X% from 2012-2022. China (X p.p.), Vietnam (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, beeswax exports expanded at an average annual rate of X% over the period from 2012-2022. 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-Pacific amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price recorded a resilient expansion. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a 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-Pacific

In 2022, approx. X tons of beeswax were imported in Asia-Pacific; with a decrease of X% against the previous year. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, beeswax imports shrank to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India represented the major importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Japan (X tons), Australia (X tons) and South Korea (X tons), together comprising a X% share of total imports. Thailand (X tons), the Philippines (X tons) and China (X tons) took a minor share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), Australia (X%), China (X%) and South Korea (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Thailand (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total imports, while Japan 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, the largest beeswax importing markets in Asia-Pacific were Japan ($X), India ($X) and South Korea ($X), with a combined X% share of total imports. Australia, China, Thailand and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to 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-Pacific stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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