Japan: Beeswax Market Overview 2021

Beeswax Market Size in Japan

In 2020, the Japanese beeswax market decreased by -X% to $X, falling for the second year in a row after two years of growth. Over the period under review, the total consumption indicated a notable increase from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Beeswax consumption peaked at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Beeswax Exports

Exports from Japan

In 2020, after three years of growth, there was significant decline in overseas shipments of beeswax, when their volume decreased by -X% to X tonnes. In general, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. As a result, exports reached the peak of X tonnes. from 2012 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, beeswax exports declined rapidly to $X in 2020. Overall, exports recorded a mild reduction. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Exports peaked at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Viet Nam (X tonnes), Taiwan (Chinese) (X tonnes) and South Korea (X tonnes) were the main destinations of beeswax exports from Japan, with a combined X% share of total exports. These countries were followed by China, the UK, Thailand and Hong Kong SAR, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK, while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beeswax exported from Japan were Taiwan (Chinese) ($X), the UK ($X) and China ($X), together comprising X% of total exports.

The UK saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2020, surging by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2012 an increase of X% y-o-y. The export price peaked in 2020 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was the UK ($X per tonne), while the average price for exports to Viet Nam ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese), while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into Japan

In 2020, purchases abroad of beeswax decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a slight setback. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Imports peaked at X tonnes in 2018; however, from 2019 to 2020, imports remained at a lower figure.

In value terms, beeswax imports shrank markedly to $X in 2020. In general, total imports indicated pronounced growth from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The growth pace was the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

Tanzania (X tonnes), Viet Nam (X tonnes) and Myanmar (X tonnes) were the main suppliers of beeswax imports to Japan, together accounting for X% of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X), Australia ($X) and Argentina ($X) constituted the largest beeswax suppliers to Japan, together comprising X% of total imports. Viet Nam, Thailand, Guinea, Ethiopia, Taiwan (Chinese), China and Myanmar lagged somewhat behind, together accounting for a further X (+X% per year) recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average beeswax import price stood at $X per tonne in 2020, shrinking by -X% against the previous year. Overall, import price indicated a measured increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. 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 2017 indices. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per tonne in 2017; however, from 2018 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Australia ($X per tonne), while the price for Myanmar ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform