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Nigeria - Beeswax - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Beeswax Market Overview 2021

Beeswax Market Size in Nigeria

In 2020, the Nigerien beeswax market decreased by -X% to $X for the first time since 2017, thus ending a two-year rising trend. Over the period under review, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2020, consumption remained at a lower figure.

Beeswax Production in Nigeria

In value terms, beeswax production stood at $X in 2020 estimated in export prices. Overall, production recorded a strong increase. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. As a result, production reached the peak level of $X. from 2016 to 2020, production growth remained at a somewhat lower figure.

The average yield of beeswax in Nigeria was estimated at X kg per head in 2020, therefore, remained relatively stable against the previous year's figure. Over the period under review, the yield recorded a relatively flat trend pattern.

In 2020, the amount of producing animals in Nigeria was estimated at X head, approximately equating the previous year's figure. Overall, the number of producing animals showed a relatively flat trend pattern.

Beeswax Exports

Exports from Nigeria

In 2020, shipments abroad of beeswax increased by X% to X tonnes for the first time since 2017, thus ending a two-year declining trend. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. As a result, exports reached the peak of X tonnes. from 2018 to 2020, the growth exports failed to regain the momentum.

In value terms, beeswax exports surged to $X in 2020. Overall, exports showed strong growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, exports reached the peak of $X. from 2018 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The U.S. (X tonnes) was the main destination for beeswax exports from Nigeria, with a approx. X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to the U.S. totaled +X%.

In value terms, the U.S. ($X) also remains the key foreign market for beeswax exports from Nigeria.

From 2007 to 2020, the average annual rate of growth in terms of value to the U.S. stood at +X%.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2020, leveling off at the previous year. In general, the export price, however, recorded perceptible growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per tonne. from 2016 to 2020, the growth in terms of the average export prices failed to regain the momentum.

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

From 2007 to 2020, the rate of growth in terms of prices for the U.S. amounted to +X% per year.

Beeswax Imports

Imports into Nigeria

In 2020, after four years of decline, there was significant growth in overseas purchases of beeswax, when their volume increased by X% to X tonnes. Over the period under review, imports, however, saw a abrupt shrinkage. Over the period under review, imports attained the maximum at X tonnes in 2008; however, from 2009 to 2020, imports stood at a somewhat lower figure.

In value terms, beeswax imports soared to $X in 2020. In general, imports, however, saw a deep downturn. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. As a result, imports attained the peak of $X. from 2009 to 2020, the growth imports remained at a lower figure.

Imports by Country

In 2020, India (X tonnes) was the main beeswax supplier to Nigeria, accounting for a approx. X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of volume from India stood at +X%.

In value terms, India ($X) constituted the largest supplier of beeswax to Nigeria.

From 2007 to 2020, the average annual growth rate of value from India amounted to +X%.

Import Prices by Country

The average beeswax import price stood at $X per tonne in 2020, falling by -X% against the previous year. Overall, the import price, however, posted notable growth. The pace of growth appeared the most rapid in 2013 an increase of X% year-to-year. As a result, import price attained the peak level of $X per tonne. from 2014 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2007 to 2020, the rate of growth in terms of prices for India amounted to +X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beeswax in the world?
+
India (28K tonnes) constituted the country with the largest volume of beeswax consumption, comprising approx. 29% of total volume. Moreover, beeswax consumption in India exceeded the figures recorded by the second-largest consumer, Malaysia (9.4K tonnes), threefold. Ethiopia (5.7K tonnes) ranked third in terms of total consumption with a 5.8% share.
What are the largest producers of beeswax in the world?
+
India (26K tonnes) constituted the country with the largest volume of beeswax production, comprising approx. 28% of total volume. Moreover, beeswax production in India exceeded the figures recorded by the second-largest producer, China (12K tonnes), twofold. Malaysia (9.4K tonnes) ranked third in terms of total production with a 9.8% share.
What are the leading suppliers of beeswax to Nigeria?
+
In value terms, India ($26K) constituted the largest supplier of beeswax to Nigeria.
What are the leading importers of beeswax from Nigeria?
+
In value terms, the U.S. ($195K) remains the key foreign market for beeswax exports from Nigeria.
What is the average export price for beeswax in Nigeria?
+
In 2020, the average beeswax export price amounted to $6,773 per tonne, approximately reflecting the previous year.
What is the average import price for beeswax in Nigeria?
+
In 2020, the average beeswax import price amounted to $6,380 per tonne, waning by -37.2% against the previous year.

Product coverage:
• FCL 1183 - Beeswax

This report provides an in-depth analysis of the beeswax market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Nigeria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Nigeria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS  This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

This Chapter is Available Only for the Professional Edition PRO
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

This Chapter is Available Only for the Professional Edition PRO
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

This Chapter is Available Only for the Professional Edition PRO
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
Table 1:
Key Findings In 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2020
Figure 22:
Production, In Value Terms, 2007–2020
Figure 23:
Producing Animals Slaughtered, 2007–2020
Figure 24:
Yield, 2007–2020
Figure 25:
Imports, In Physical Terms, 2007–2020
Figure 26:
Imports, In Value Terms, 2007–2020
Figure 27:
Imports, In Physical Terms, By Country, 2020
Figure 28:
Imports, In Physical Terms, By Country, 2007–2020
Figure 29:
Imports, In Value Terms, By Country, 2007–2020
Figure 30:
Import Prices, By Country Of Origin, 2007–2020
Figure 31:
Exports, In Physical Terms, 2007–2020
Figure 32:
Exports, In Value Terms, 2007–2020
Figure 33:
Exports, In Physical Terms, By Country, 2020
Figure 34:
Exports, In Physical Terms, By Country, 2007–2020
Figure 35:
Exports, In Value Terms, By Country, 2007–2020
Figure 36:
Export Prices, By Country Of Destination, 2007–2020
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