Saudi Arabia: Beeswax Market Overview 2021

Beeswax Market Size in Saudi Arabia

For the third year in a row, the Saudi beeswax market recorded growth in sales value, which increased by X% to $X in 2019. Overall, consumption enjoyed a significant increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level in 2019 and is expected to retain growth in the near future.

Beeswax Exports

Exports from Saudi Arabia

In 2019, exports of beeswax from Saudi Arabia stood at X kg, standing approx. at the year before. In general, exports showed a dramatic decrease. Over the period under review, exports hit record highs at X tonnes in 2007; however, from 2008 to 2019, exports remained at a lower figure.

In value terms, beeswax exports totaled $X in 2019. Over the period under review, exports recorded a dramatic descent. Over the period under review, exports attained the maximum at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Thailand (X kg) was the main destination for beeswax exports from Saudi Arabia, accounting for a approx. X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to Thailand was relatively modest.

From 2007 to 2019, the average annual rate of growth in terms of value to Thailand was relatively modest.

Export Prices by Country

In 2019, the average beeswax export price amounted to $X per tonne, flattening at the previous year. Overall, the export price saw a modest increase. The most prominent rate of growth was recorded in 2013 an increase of X% year-to-year. Over the period under review, average export prices hit record highs in 2019 and is expected to retain growth in years to come.

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

From 2007 to 2019, the rate of growth in terms of prices for Thailand amounted to X% per year.

Beeswax Imports

Imports into Saudi Arabia

For the fifth year in a row, Saudi Arabia recorded growth in supplies from abroad of beeswax, which increased by X% to X tonnes in 2019. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2012 when imports increased by X% y-o-y. Over the period under review, imports attained the peak figure in 2019 and are likely to continue growth in the near future.

In value terms, beeswax imports rose notably to $X in 2019. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2019 and are expected to retain growth in years to come.

Imports by Country

Turkey (X tonnes), Germany (X tonnes) and the U.S. (X tonnes) were the main suppliers of beeswax imports to Saudi Arabia, together comprising X% of total imports.

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

In value terms, the U.S. ($X), Germany ($X) and the UK ($X) constituted the largest beeswax suppliers to Saudi Arabia, together comprising X% of total imports. These countries were followed by Turkey, Hungary, Lebanon and Oman, which together accounted for a further X the main suppliers, Turkey (+X% per year) recorded 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 2019, the average beeswax import price amounted to $X per tonne, shrinking by -X% against the previous year. Over the period under review, import price indicated notable growth 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. The most prominent rate of growth was recorded in 2015 an increase of X% year-to-year. As a result, import price attained the peak level of $X per tonne. From 2016 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 the UK ($X per tonne), while the price for Oman ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced mixed trend patterns.

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. These countries were followed by Turkey, Argentina, South Korea, the U.S., Kenya, Angola, Germany, China, Spain and Mexico, which together accounted for 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 comprising 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 Saudi Arabia?

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In value terms, the largest beeswax suppliers to Saudi Arabia were the U.S. ($116K), Germany ($114K) and the UK ($91K), with a combined 45% share of total imports. Turkey, Hungary, Lebanon and Oman lagged somewhat behind, together comprising a further 15%.

What is the average export price for beeswax in Saudi Arabia?

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In 2019, the average beeswax export price amounted to $10,155 per tonne, flattening at the previous year.

What is the average import price for beeswax in Saudi Arabia?

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The average beeswax import price stood at $7,934 per tonne in 2019, shrinking by -16.6% against the previous year.