Japan: Beeswax Market 2022

Beeswax Market Size in Japan

In 2021, the Japanese beeswax market decreased by -X% to $X, falling for the third consecutive year after two years of growth. Overall, consumption showed a mild contraction. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Beeswax Exports

Exports from Japan

In 2021, beeswax exports from Japan soared to X tonnes, with an increase of X% compared with the year before. Overall, exports, however, recorded a noticeable slump. The exports peaked at X tonnes in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, beeswax exports expanded rapidly to $X in 2021. In general, exports, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tonnes), South Korea (X tonnes) and Vietnam (X tonnes) were the main destinations of beeswax exports from Japan, together comprising X% of total exports. These countries were followed by Thailand, China, Hong Kong SAR and the UK, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (+X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for beeswax exported from Japan were South Korea ($X), Taiwan (Chinese) ($X) and Vietnam ($X), with a combined X% share of total exports. These countries were followed by the UK, China, Thailand and Hong Kong SAR, which together accounted for a further X UK, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among 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 2021, falling by -X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by X% year-to-year. As a result, the export price attained the peak level of $X per tonne, and then dropped significantly in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was the UK ($X per tonne), while the average price for exports to Taiwan (Chinese) ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Beeswax Imports

Imports into Japan

In 2021, supplies from abroad of beeswax decreased by -X% to X tonnes, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a perceptible shrinkage. 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 tonnes in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, beeswax imports shrank to $X in 2021. In general, imports showed a slight slump. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tonnes), Thailand (X tonnes) and Argentina (X tonnes) were the main suppliers of beeswax imports to Japan, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were in Thailand (+X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X), Thailand ($X) and Argentina ($X) appeared to be the largest beeswax suppliers to Japan, together comprising X% of total imports.

Thailand, with a CAGR of +X%, recorded the highest growth rate of the value of imports, in terms of 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 2021, rising by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest prices were recorded for prices from China ($X per tonne) and Argentina ($X per tonne), while the price for Vietnam ($X per tonne) and Thailand ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform