Singapore: Beeswax Market Overview 2021

Beeswax Market Size in Singapore

For the fifth consecutive year, the Singaporean beeswax market recorded growth in sales value, which increased by X% to $X in 2019. Over the period under review, consumption enjoyed a buoyant increase. The growth pace was the most rapid in 2016 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level in 2019 and is likely to see steady growth in years to come.

Beeswax Production in Singapore

In value terms, beeswax production expanded rapidly to $X in 2019 estimated in export prices. Overall, production continues to indicate modest growth. Beeswax production peaked at $X in 2012; however, from 2013 to 2019, production stood at a somewhat lower figure.

The average yield of beeswax in Singapore was estimated at X kg per head in 2019, approximately equating 2018. In general, the yield recorded a relatively flat trend pattern.

In 2019, the amount of producing animals in Singapore totaled X head, approximately mirroring 2018 figures. In general, the number of producing animals saw a relatively flat trend pattern.

Beeswax Exports

Exports from Singapore

In 2019, approx. X tonnes of beeswax were exported from Singapore; almost unchanged from 2018. Overall, exports enjoyed a mild expansion. The most prominent rate of growth was recorded in 2012 when exports increased by X% year-to-year. As a result, exports attained the peak of X tonnes. From 2013 to 2019, the growth exports remained at a lower figure.

In value terms, beeswax exports dropped slightly to $X in 2019. Over the period under review, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2012 when exports increased by X% y-o-y. As a result, exports attained the peak of $X. From 2013 to 2019, the growth exports remained at a somewhat lower figure.

Exports by Country

France (X kg), Thailand (X kg) and Indonesia (X kg) were the main destinations of beeswax exports from Singapore, with a combined X% share of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia, while exports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), France ($X) and Thailand ($X) constituted the largest markets for beeswax exported from Singapore worldwide, together accounting for X% of total exports.

Among the main countries of destination, Indonesia saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2019, dropping by -X% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2009; however, from 2010 to 2019, export prices failed to regain the momentum.

Average prices varied somewhat for the major foreign markets. In 2019, the countries with the highest prices were Indonesia ($X per tonne) and the Philippines ($X per tonne), while the average price for exports to Malaysia ($X per tonne) and Thailand ($X per tonne) were amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+X% per year), while the prices for the other major destinations experienced mixed trend patterns.

Beeswax Imports

Imports into Singapore

In 2019, overseas purchases of beeswax decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Overall, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tonnes in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

In value terms, beeswax imports fell to $X in 2019. In general, imports recorded a perceptible setback. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X kg), Australia (X kg) and the U.S. (X kg) were the main suppliers of beeswax imports to Singapore, together accounting for X% of total imports.

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

In value terms, Brazil ($X), the U.S. ($X) and France ($X) were the largest beeswax suppliers to Singapore, with a combined X% share of total imports. Australia, Malaysia, Thailand and China lagged somewhat behind, together comprising a further X the main suppliers, Australia (+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, increasing by X% against the previous year. Overall, the import price recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the peak figure in 2019 and is likely to continue growth in the near future.

Prices varied noticeably by the country of origin; the country with the highest price was France ($X per tonne), while the price for Thailand ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced more modest paces of growth.

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), together comprising 56% 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. These countries were followed by Indonesia, Ethiopia, Argentina, Turkey, South Korea, Kenya and Angola, which together accounted for a further 26%.

What are the leading suppliers of beeswax to Singapore?

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In value terms, Brazil ($2.1K), the U.S. ($2K) and France ($1.9K) appeared to be the largest beeswax suppliers to Singapore, with a combined 45% share of total imports. Australia, Malaysia, Thailand and China lagged somewhat behind, together accounting for a further 29%.

What are the leading importers of beeswax from Singapore?

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In value terms, Indonesia ($1.7K), France ($1.6K) and Thailand ($1.5K) were the largest markets for beeswax exported from Singapore worldwide, together comprising 70% of total exports.

What is the average export price for beeswax in Singapore?

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In 2019, the average beeswax export price amounted to $4,400 per tonne, declining by -5.1% against the previous year.

What is the average import price for beeswax in Singapore?

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The average beeswax import price stood at $10,258 per tonne in 2019, surging by 5.4% against the previous year.