Canada: Beeswax Market Overview 2021

Beeswax Market Size in Canada

After two years of growth, the Canadian beeswax market decreased by -X% to $X in 2020. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2020, consumption stood at a somewhat lower figure.

Beeswax Exports

Exports from Canada

In 2020, beeswax exports from Canada shrank to X tonnes, with a decrease of -X% against the previous year. Over the period under review, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, exports attained the peak of X tonnes. from 2016 to 2020, the growth exports failed to regain the momentum.

In value terms, beeswax exports contracted markedly to $X in 2020. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 when exports increased by X% y-o-y. Exports peaked at $X in 2015; however, from 2016 to 2020, exports failed to regain the momentum.

Exports by Country

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

From 2007 to 2020, the average annual growth rate of volume to the U.S. amounted to -X%.

In value terms, the U.S. ($X) remains the key foreign market for beeswax exports from Canada, comprising X% of total exports. The second position in the ranking was occupied by Israel ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to the U.S. was relatively modest.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2020, declining by -X% against the previous year. In general, export price indicated a tangible expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, beeswax export price decreased by -X% against 2016 indices. The growth pace was the most rapid in 2014 an increase of X% y-o-y. The export price peaked at $X per tonne in 2016; however, from 2017 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per tonne), while the average price for exports to Israel stood at $X per tonne.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S..

Beeswax Imports

Imports into Canada

In 2020, the amount of beeswax imported into Canada declined to X tonnes, with a decrease of -X% on the previous year's figure. Overall, imports, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2015; however, from 2016 to 2020, imports failed to regain the momentum.

In value terms, beeswax imports dropped to $X in 2020. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, 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), eightfold.

From 2007 to 2020, 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 Germany (+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.

From 2007 to 2020, 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

In 2020, the average beeswax import price amounted to $X per tonne, surging by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2016 an increase of X% year-to-year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2017; however, from 2018 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, 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 2020, 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 Platform