Eastern Asia: Beeswax Market 2024

Beeswax Market Size in Eastern Asia

The East Asian beeswax market fell modestly to $X in 2022, waning by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Beeswax Production in Eastern Asia

In value terms, beeswax production stood at $X in 2022 estimated in export price. The total production indicated a pronounced 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 increased by X% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of beeswax production, accounting for X% of total volume. Moreover, beeswax production in China exceeded the figures recorded by the second-largest producer, South Korea (X tons), threefold.

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

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Beeswax Exports

Exports in Eastern Asia

In 2022, shipments abroad of beeswax increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, beeswax exports reached $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of beeswax in Eastern Asia, committing X% of total export.

China was also the fastest-growing in terms of the beeswax exports, with a CAGR of X% from 2012 to 2022. 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 increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, recorded a mild decline. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained 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 2022, the rate of growth in terms of prices for China amounted to X% per year.

Beeswax Imports

Imports in Eastern Asia

In 2022, overseas purchases of beeswax increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, beeswax imports dropped to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Japan was the major importer of beeswax in Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons), together generating a X% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of beeswax. At the same time, China (X%) and South Korea (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. South Korea (X p.p.), Japan (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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