MENA: Beeswax Market 2024

Beeswax Market Size in MENA

The MENA's beeswax market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, showed a perceptible contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Beeswax Production in MENA

In value terms, beeswax production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Turkey (X tons) constituted the country with the largest volume of beeswax production, comprising approx. X% of total volume. Moreover, beeswax production in Turkey exceeded the figures recorded by the second-largest producer, Syrian Arab Republic (X tons), more than tenfold.

In Turkey, beeswax production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Syrian Arab Republic (X% per year) and Egypt (X% per year).

Beeswax Exports

Exports in MENA

In 2022, the amount of beeswax exported in MENA contracted to X tons, shrinking by X% on 2021 figures. Over the period under review, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports reduced to $X in 2022. In general, exports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Turkey (X tons) represented the major exporter of beeswax, comprising X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons), Egypt (X tons) and Jordan (X tons). All these countries together took approx. X% share of total exports. Lebanon (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to beeswax exports from Turkey stood at X%. At the same time, Jordan (X%), Lebanon (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Egypt (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates, Iran, Jordan and Lebanon increased by X, X, X, X and X percentage points, respectively.

In value terms, Turkey ($X) emerged as the largest beeswax supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Egypt (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beeswax export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced a decline in the export price figures.

Beeswax Imports

Imports in MENA

Beeswax imports expanded remarkably to X tons in 2022, picking up by X% compared with the year before. Over the period under review, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, beeswax imports expanded sharply to $X in 2022. Overall, imports, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Algeria (X tons) represented the main importer of beeswax, achieving X% of total imports. Turkey (X tons) held the second position in the ranking, followed by Syrian Arab Republic (X tons), Iraq (X tons), Oman (X tons), Iran (X tons) and Tunisia (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to beeswax imports into Algeria stood at X%. At the same time, Iraq (X%), Oman (X%), Tunisia (X%) and Syrian Arab Republic (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) and Turkey (X%) illustrated a downward trend over the same period. Algeria (X p.p.), Iraq (X p.p.), Oman (X p.p.), Syrian Arab Republic (X p.p.) and Tunisia (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X), Turkey ($X) and Oman ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, which is down by X% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beeswax import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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