Malaysia: Beeswax Market Overview 2021

Beeswax Market Size in Malaysia

The Malaysian beeswax market totaled $X in 2019, increasing by X% against the previous year. In general, consumption recorded a mild increase. The most prominent rate of growth was recorded in 2014 when the market value increased by X% year-to-year. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.

Beeswax Production in Malaysia

In value terms, beeswax production amounted to $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2018 to 2019, production growth failed to regain the momentum.

In 2019, the average yield of beeswax in Malaysia totaled X kg per head, stabilizing at the year before. In general, the yield saw a relatively flat trend pattern.

The number of animals for beeswax production in Malaysia amounted to X head in 2019, approximately reflecting the previous year's figure. Overall, the number of producing animals saw a relatively flat trend pattern.

Beeswax Exports

Exports from Malaysia

In 2019, the amount of beeswax exported from Malaysia declined to X tonnes, which is down by -X% on 2018 figures. In general, exports, however, saw mild growth. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. As a result, exports attained the peak of X tonnes. From 2014 to 2019, the growth exports failed to regain the momentum.

In value terms, beeswax exports stood at $X in 2019. Over the period under review, exports, however, enjoyed a measured expansion. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. From 2014 to 2019, the growth exports failed to regain the momentum.

Exports by Country

China (X tonnes) was the main destination for beeswax exports from Malaysia, with a X% share of total exports. Moreover, beeswax exports to China exceeded the volume sent to the second major destination, Sri Lanka (X tonnes), twofold.

From 2007 to 2019, the average annual rate of growth in terms of volume to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+X% per year) and Saudi Arabia (+X% per year).

In value terms, China ($X), Sri Lanka ($X) and Saudi Arabia ($X) constituted the largest markets for beeswax exported from Malaysia worldwide.

China (+X% per year) saw 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

In 2019, the average beeswax export price amounted to $X per tonne, picking up by X% against the previous year. In general, export price indicated a pronounced expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, beeswax export price decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per tonne. From 2018 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Saudi Arabia ($X per tonne), while the average price for exports to China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia, while the prices for the other major destinations experienced a decline.

Beeswax Imports

Imports into Malaysia

In 2019, overseas purchases of beeswax decreased by -X% to X tonnes, falling for the second consecutive year after three years of growth. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tonnes in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, beeswax imports declined to $X in 2019. Over the period under review, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

Imports by Country

China (X tonnes), the U.S. (X tonnes) and Germany (X tonnes) were the main suppliers of beeswax imports to Malaysia, with a combined X% share of total imports.

From 2007 to 2019, the biggest increases were in Germany (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beeswax suppliers to Malaysia were China ($X), Germany ($X) and the U.S. ($X), together comprising X% of total imports.

Germany (+X% per year) recorded 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

In 2019, the average beeswax import price amounted to $X per tonne, rising by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per tonne. From 2015 to 2019, the growth in terms of the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Belgium ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beeswax in the world?

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The countries with the highest volumes of beeswax consumption in 2019 were Malaysia (35K tonnes), India (26K tonnes) and Ethiopia (5.5K tonnes), with a combined 56% share of global consumption. Turkey, Argentina, South Korea, the U.S., Kenya, Angola, Germany, China, Spain and Mexico lagged somewhat behind, together comprising a further 25%.

What are the largest producers of beeswax in the world?

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The countries with the highest volumes of beeswax production in 2019 were Malaysia (35K tonnes), India (26K tonnes) and China (12K tonnes), together accounting for 56% of global production. Indonesia, Ethiopia, Argentina, Turkey, South Korea, Kenya and Angola lagged somewhat behind, together comprising a further 26%.

What are the leading suppliers of beeswax to Malaysia?

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In value terms, China ($33K), Germany ($27K) and the U.S. ($22K) appeared to be the largest beeswax suppliers to Malaysia, with a combined 74% share of total imports.

What are the leading importers of beeswax from Malaysia?

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In value terms, China ($620K), Sri Lanka ($343K) and Saudi Arabia ($310K) were the largest markets for beeswax exported from Malaysia worldwide.

What is the average export price for beeswax in Malaysia?

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The average beeswax export price stood at $1,423 per tonne in 2019, growing by 12% against the previous year.

What is the average import price for beeswax in Malaysia?

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The average beeswax import price stood at $5,337 per tonne in 2019, picking up by 6.5% against the previous year.