CIS: Beeswax Market 2024

Beeswax Market Size in CIS

The CIS beeswax market contracted to $X in 2022, falling by X% against the previous year. In general, consumption continues to indicate a deep downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Beeswax Production in CIS

In value terms, beeswax production amounted to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

The country with the largest volume of beeswax production was Russia (X tons), comprising approx. X% of total volume. Moreover, beeswax production in Russia exceeded the figures recorded by the second-largest producer, Kyrgyzstan (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Russia was relatively modest.

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Beeswax Exports

Exports in CIS

In 2022, the amount of beeswax exported in the CIS dropped notably to X tons, reducing by X% on 2021. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, beeswax exports fell remarkably to $X in 2022. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Russia (X tons) represented the largest exporter of beeswax in the CIS, comprising X% of total export.

Russia was also the fastest-growing in terms of the beeswax exports, with a CAGR of X% from 2012 to 2022. While the share of Russia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest beeswax supplier in the CIS.

In Russia, beeswax exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2020 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to X% per year.

Beeswax Imports

Imports in CIS

In 2022, the amount of beeswax imported in the CIS fell dramatically to X tons, with a decrease of X% against 2021. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, beeswax imports fell markedly to $X in 2022. In general, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Russia was the main importing country with an import of around X tons, which finished at X% of total imports. Azerbaijan (X tons) took the second position in the ranking, followed by Uzbekistan (X tons). All these countries together took approx. X% share of total imports. Belarus (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to beeswax imports into Russia stood at X%. At the same time, Azerbaijan (X%) displayed positive paces of growth. Moreover, Azerbaijan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. By contrast, Belarus (X%) and Uzbekistan (X%) illustrated a downward trend over the same period. While the share of Azerbaijan (X p.p.) and Uzbekistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported beeswax in the CIS, comprising X% of total imports. The second position in the ranking was taken by Azerbaijan ($X), with a X% share of total imports. It was followed by Uzbekistan, with an X% share.

In Russia, beeswax imports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Azerbaijan (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 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 Russia ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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