Malaysia: Beeswax Market 2022

Beeswax Market Size in Malaysia

The Malaysian beeswax market reduced rapidly to $X in 2020, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a sharp curtailment. Over the period under review, the market hit record highs at $X in 2019, and then declined rapidly in the following year.

Beeswax Exports

Exports from Malaysia

In 2021, the amount of beeswax exported from Malaysia declined to X tonnes, waning by -X% against the previous year. Over the period under review, exports saw a sharp contraction. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tonnes in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, beeswax exports contracted remarkably to $X in 2021. In general, exports continue to indicate a significant decrease. The smallest decline of -X% was in 2017. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tonnes) was the main destination for beeswax exports from Malaysia, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +X%.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore stood at +X%.

Export Prices by Country

In 2021, the average beeswax export price amounted to $X per tonne, dropping by -X% against the previous year. Overall, the export price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2019 an increase of X% year-to-year. As a result, the export price attained the peak level of $X per tonne. From 2020 to 2021, the the average export prices failed to regain momentum.

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

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

Beeswax Imports

Imports into Malaysia

In 2021, the amount of beeswax imported into Malaysia declined dramatically to X tonnes, dropping by -X% compared with the year before. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Imports peaked at X tonnes in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, beeswax imports contracted markedly to $X in 2021. Over the period under review, imports saw a pronounced descent. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tonnes), Germany (X tonnes) and the UK (X kg) were the main suppliers of beeswax imports to Malaysia, with a combined X% share of total imports. These countries were followed by Japan and New Zealand, which together accounted for a further X 2012 to 2021, the biggest increases were in Japan (+X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beeswax suppliers to Malaysia were Germany ($X), the United States ($X) and the UK ($X), with a combined X% share of total imports. Japan and New Zealand lagged somewhat behind, together comprising a further X, with a CAGR of +X%, saw the highest growth rate of 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 2021, with an increase of X% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, beeswax import price increased by +X% against 2018 indices. The growth pace was the most rapid in 2019 an increase of X% y-o-y. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($X per tonne), while the price for the United States ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform