Eastern Asia: Beeswax Market 2022

Beeswax Market Size in Eastern Asia

After three years of growth, the East Asian beeswax market decreased by -X% to $X in 2021. In general, consumption saw a mild shrinkage. The level of consumption peaked at $X in 2020, and then fell sharply in the following year.

Beeswax Production in Eastern Asia

In value terms, beeswax production reduced modestly to $X in 2021 estimated in export prices. The total output value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

China (X tonnes) constituted the country with the largest volume of beeswax production, comprising approx. X% of total volume. Moreover, beeswax production in China exceeded the figures recorded by the second-largest producer, South Korea (X tonnes), fourfold.

From 2012 to 2021, the average annual growth rate of volume in China was relatively modest.

Production By Country in Eastern Asia

China (X tonnes) constituted the country with the largest volume of beeswax production, comprising approx. X% of total volume. Moreover, beeswax production in China exceeded the figures recorded by the second-largest producer, South Korea (X tonnes), fourfold.

In China, beeswax production remained relatively stable over the period from 2012-2021.

Beeswax Exports

Exports in Eastern Asia

Beeswax exports surged to X tonnes in 2021, with an increase of X% on the previous year. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, beeswax exports shrank modestly to $X in 2021. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of beeswax, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the beeswax exports, with a CAGR of +X% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest beeswax supplier in Eastern Asia.

In China, beeswax exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the beeswax export price in Eastern Asia amounted to $X per tonne, falling by -X% against the previous year. Overall, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 when the export price increased by X% year-to-year. Over the period under review, the export prices hit record highs at $X per tonne in 2016; however, from 2017 to 2021, 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 China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -X% per year.

Beeswax Imports

Imports in Eastern Asia

In 2021, approx. X tonnes of beeswax were imported in Eastern Asia; stabilizing at the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tonnes in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, beeswax imports dropped to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan was the main importing country with an import of around X tonnes, which resulted at X% of total imports. South Korea (X tonnes) ranks second in terms of the total imports with a X% share, followed by China (X%), Hong Kong SAR (X%) and Taiwan (Chinese) (X%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (+X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest beeswax importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together accounting for X% of total imports.

Among the main importing countries, China, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The beeswax import price in Eastern Asia stood at $X per tonne in 2021, stabilizing at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per tonne in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per tonne) and Taiwan (Chinese) ($X per tonne), while Hong Kong SAR ($X per tonne) and South Korea ($X per tonne) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform