Israel: Beeswax Market Overview 2021

Beeswax Market Size in Israel

The Israeli beeswax market was finally on the rise to reach $X in 2020, after two years of decline. Overall, consumption, however, enjoyed mild growth. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Beeswax consumption peaked in 2020 and is expected to retain growth in the immediate term.

Beeswax Exports

Exports from Israel

For the sixth consecutive year, Israel recorded decline in overseas shipments of beeswax, which decreased by -X% to X kg in 2020. Over the period under review, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2014 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2012; however, from 2013 to 2020, exports stood at a somewhat lower figure.

In value terms, beeswax exports dropped significantly to $X in 2020. Overall, exports recorded a deep slump. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. Exports peaked at $X in 2012; however, from 2013 to 2020, exports failed to regain the momentum.

Exports by Country

The U.S. (X kg) was the main destination for beeswax exports from Israel, accounting for a approx. X% share of total exports.

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

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

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. stood at -X%.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2020, surging by X% against the previous year. Overall, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average export prices hit record highs in 2020 and is likely to continue growth in years to come.

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

From 2007 to 2020, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Beeswax Imports

Imports into Israel

After two years of decline, overseas purchases of beeswax increased by X% to X tonnes in 2020. Over the period under review, imports, however, saw a pronounced curtailment. Over the period under review, imports reached the peak figure at X tonnes in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

In value terms, beeswax imports soared to $X in 2020. In general, imports, however, continue to indicate a mild increase. Over the period under review, imports reached the peak figure at $X in 2008; however, from 2009 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Germany (X tonnes) constituted the largest supplier of beeswax to Israel, accounting for a X% share of total imports. Moreover, beeswax imports from Germany exceeded the figures recorded by the second-largest supplier, Canada (X tonnes), threefold. The third position in this ranking was occupied by France (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Germany stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and France (+X% per year).

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

From 2007 to 2020, the average annual rate of growth in terms of value from Germany amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and France (+X% per year).

Import Prices by Country

The average beeswax import price stood at $X per tonne in 2020, therefore, remained relatively stable against the previous year. Over the period under review, import price indicated a remarkable increase 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 import price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. Over the period under review, average import prices attained the peak figure at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2020, the countries with the highest prices were the UK ($X per tonne) and the U.S. ($X per tonne), while the price for Germany ($X per tonne) and Canada ($X per tonne) were 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