Bulgaria: Beeswax Market Overview 2021

Beeswax Market Size in Bulgaria

In 2019, the Bulgarian beeswax market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Beeswax consumption peaked at $X in 2007; however, from 2008 to 2019, consumption remained at a lower figure.

Beeswax Production in Bulgaria

In value terms, beeswax production shrank slightly to $X in 2019 estimated in export prices. Over the period under review, production posted a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018, and then reduced slightly in the following year.

The average yield of beeswax in Bulgaria was estimated at X kg per X heads in 2019, remaining relatively unchanged against the previous year's figure. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. The beeswax yield peaked at X kg per X heads in 2011; however, from 2012 to 2019, the yield stood at a somewhat lower figure.

The number of animals for beeswax production in Bulgaria rose slightly to X heads in 2019, increasing by X% against the previous year's figure. Overall, the number of producing animals continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. The number of animals for beeswax production peaked in 2019 and is expected to retain growth in the near future.

Beeswax Exports

Exports from Bulgaria

In 2019, overseas shipments of beeswax decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Overall, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, exports attained the peak figure at X tonnes in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

In value terms, beeswax exports declined rapidly to $X in 2019. In general, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

Exports by Country

France (X tonnes), Finland (X tonnes) and the Czech Republic (X tonnes) were the main destinations of beeswax exports from Bulgaria, with a combined X% share of total exports. Estonia, Germany, Austria and Croatia lagged somewhat behind, together comprising a further X 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beeswax exported from Bulgaria were France ($X), Finland ($X) and the Czech Republic ($X), with a combined X% share of total exports. These countries were followed by Estonia, Austria, Germany and Croatia, which together accounted for a further X terms of the main countries of destination, Austria (+X% per year) recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average beeswax export price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the export price, however, continues to indicate prominent growth. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The export price peaked at $X per tonne in 2018, and then declined in the following year.

Average prices varied noticeably for the major foreign markets. In 2019, the highest prices were recorded for prices to Finland ($X per tonne) and France ($X per tonne), while the average price for exports to Germany ($X per tonne) and the Czech Republic ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Croatia, while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into Bulgaria

Beeswax imports into Bulgaria reduced to X tonnes in 2019, with a decrease of -X% against the previous year. Over the period under review, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2007; however, from 2008 to 2019, imports stood at a somewhat lower figure.

In value terms, beeswax imports fell to $X in 2019. Overall, imports showed a abrupt downturn. The smallest decline of -X% was in 2017. Over the period under review, imports reached the maximum at $X in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

Imports by Country

China (X tonnes), Russia (X tonnes) and Greece (X tonnes) were the main suppliers of beeswax imports to Bulgaria, with a combined X% share of total imports.

From 2007 to 2019, the biggest increases were in China, while purchases for the other leaders experienced a decline.

In value terms, Russia ($X), China ($X) and Greece ($X) constituted the largest beeswax suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, China recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2019, the average beeswax import price amounted to $X per tonne, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2009; however, from 2010 to 2019, import prices stood at a somewhat lower figure.

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

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Russia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beeswax in the world?

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The countries with the highest volumes of beeswax consumption in 2019 were Malaysia (35K tonnes), India (26K tonnes) and Indonesia (6.5K tonnes), together accounting for 54% of global consumption.

What are the largest producers of beeswax in the world?

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The countries with the highest volumes of beeswax production in 2019 were Malaysia (35K tonnes), India (26K tonnes) and China (12K tonnes), with a combined 56% share of global production. Indonesia, Ethiopia, Argentina, Turkey, South Korea, Kenya and Angola lagged somewhat behind, together comprising a further 26%.

What are the leading suppliers of beeswax to Bulgaria?

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In value terms, the largest beeswax suppliers to Bulgaria were Russia ($119K), China ($68K) and Greece ($35K), with a combined 93% share of total imports.

What are the leading importers of beeswax from Bulgaria?

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In value terms, the largest markets for beeswax exported from Bulgaria were France ($168K), Finland ($142K) and the Czech Republic ($44K), with a combined 63% share of total exports. These countries were followed by Estonia, Austria, Germany and Croatia, which together accounted for a further 26%.

What is the average export price for beeswax in Bulgaria?

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The average beeswax export price stood at $7,925 per tonne in 2019, with a decrease of -11.5% against the previous year.

What is the average import price for beeswax in Bulgaria?

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The average beeswax import price stood at $4,776 per tonne in 2019, increasing by 2.8% against the previous year.