South Africa: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in South Africa

The South African vegetable waxes market fell slightly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Waxes Production in South Africa

In value terms, vegetable waxes production declined to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. The growth pace was the most rapid in 2021 with an increase of X%. Vegetable waxes production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Waxes Exports

Exports from South Africa

In 2022, overseas shipments of vegetable waxes increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a perceptible increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vegetable waxes exports surged to $X in 2022. In general, exports recorded a perceptible expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Swaziland (X tons) was the main destination for vegetable waxes exports from South Africa, accounting for a X% share of total exports. Moreover, vegetable waxes exports to Swaziland exceeded the volume sent to the second major destination, Kenya (X tons), threefold. The third position in this ranking was held by Zimbabwe (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Swaziland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (X% per year) and Zimbabwe (X% per year).

In value terms, the largest markets for vegetable waxes exported from South Africa were Swaziland ($X), Zimbabwe ($X) and Kenya ($X), with a combined X% share of total exports.

Among the main countries of destination, Kenya, with a CAGR of X%, saw the highest rates of growth with regard to 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 vegetable waxes export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Angola (X.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Waxes Imports

Imports into South Africa

In 2022, purchases abroad of vegetable waxes increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, imports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vegetable waxes imports soared to $X in 2022. In general, imports, however, showed a mild decrease. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest vegetable waxes supplier to South Africa, accounting for a X% share of total imports. Moreover, vegetable waxes imports from Brazil exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X.0% per year) and China (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of vegetable waxes to South Africa, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X.1% per year) and China (X% per year).

Import Prices by Country

In 2022, the average vegetable waxes import price amounted to $X per ton, almost unchanged from the previous year. Overall, the import price, however, recorded slight growth. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Turkey ($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 prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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