Canada: Beeswax Market Overview 2021

Beeswax Market Size in Canada

In 2019, the Canadian beeswax market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a pronounced expansion. The pace of growth was the most pronounced in 2013 with an increase of X% year-to-year. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2019, consumption failed to regain the momentum.

Beeswax Exports

Exports from Canada

In 2019, beeswax exports from Canada fell to X tonnes, waning by -X% compared with the year before. In general, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. As a result, exports reached the peak of X tonnes. From 2016 to 2019, the growth exports failed to regain the momentum.

In value terms, beeswax exports shrank to $X in 2019. Over the period under review, total exports indicated a slight expansion from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -X% against 2015 indices. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. Over the period under review, exports reached the maximum at $X in 2015; however, from 2016 to 2019, exports remained at a lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for beeswax exports from Canada, with a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to the U.S. stood at -X%.

In value terms, the U.S. ($X) also remains the key foreign market for beeswax exports from Canada.

From 2007 to 2019, the average annual rate of growth in terms of value to the U.S. stood at +X%.

Export Prices by Country

In 2019, the average beeswax export price amounted to $X per tonne, rising by X% against the previous year. Overall, export price indicated a perceptible increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, beeswax export price decreased by -X% against 2016 indices. The growth pace was the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, average export prices reached the maximum at $X per tonne in 2016; however, from 2017 to 2019, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the U.S..

From 2007 to 2019, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Beeswax Imports

Imports into Canada

In 2019, the amount of beeswax imported into Canada contracted modestly to X tonnes, shrinking by -X% against the year before. Overall, imports, however, enjoyed a tangible increase. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at X tonnes in 2015; however, from 2016 to 2019, imports failed to regain the momentum.

In value terms, beeswax imports contracted to $X in 2019. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, the U.S. (X tonnes) constituted the largest supplier of beeswax to Canada, accounting for a X% share of total imports. Moreover, beeswax imports from the U.S. exceeded the figures recorded by the second-largest supplier, China (X tonnes), more than tenfold. The third position in this ranking was occupied by India (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume from the U.S. totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and India (+X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of beeswax to Canada, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from the U.S. amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Germany (+X% per year).

Import Prices by Country

The average beeswax import price stood at $X per tonne in 2019, declining by -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2017; however, from 2018 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Germany ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

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 Ethiopia (5.5K tonnes), together accounting for 56% of global consumption. Turkey, Argentina, South Korea, the U.S., Kenya, Angola, Germany, China, Spain and Mexico lagged somewhat behind, together comprising a further 25%.

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. These countries were followed by Indonesia, Ethiopia, Argentina, Turkey, South Korea, Kenya and Angola, which together accounted for a further 26%.

What are the leading suppliers of beeswax to Canada?

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In value terms, the U.S. ($2.1M) constituted the largest supplier of beeswax to Canada, comprising 78% of total imports. The second position in the ranking was occupied by China ($232K), with a 8.5% share of total imports. It was followed by Germany, with a 5.1% share.

What are the leading importers of beeswax from Canada?

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In value terms, the U.S. ($2.9M) remains the key foreign market for beeswax exports from Canada.

What is the average export price for beeswax in Canada?

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In 2019, the average beeswax export price amounted to $8,234 per tonne, surging by 2.8% against the previous year.

What is the average import price for beeswax in Canada?

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In 2019, the average beeswax import price amounted to $4,307 per tonne, which is down by -11.8% against the previous year.