Thailand: Beeswax Market Overview 2021

Beeswax Market Size in Thailand

The Thai beeswax market dropped to $X in 2020, with a decrease of -X% against the previous year. Over the period under review, consumption saw a pronounced contraction. The growth pace was the most rapid in 2013 when the market value increased by X% y-o-y. Beeswax consumption peaked at $X in 2016; however, from 2017 to 2020, consumption remained at a lower figure.

Beeswax Production in Thailand

In value terms, beeswax production rose rapidly to $X in 2020 estimated in export prices. Overall, production, however, showed a dramatic shrinkage. Beeswax production peaked at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

The average yield of beeswax in Thailand totaled X kg per head in 2020, approximately mirroring the previous year's figure. Over the period under review, the yield saw a relatively flat trend pattern.

The number of animals for beeswax production in Thailand stood at X head in 2020, remaining constant against the previous year's figure. Over the period under review, the number of producing animals continues to indicate a relatively flat trend pattern.

Beeswax Exports

Exports from Thailand

In 2020, approx. X tonnes of beeswax were exported from Thailand; with an increase of X% on the previous year's figure. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. As a result, exports reached the peak of X tonnes. from 2019 to 2020, the growth exports remained at a somewhat lower figure.

In value terms, beeswax exports expanded remarkably to $X in 2020. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. As a result, exports reached the peak of $X. from 2019 to 2020, the growth exports failed to regain the momentum.

Exports by Country

Japan (X tonnes), Taiwan (Chinese) (X tonnes) and Singapore (X tonnes) were the main destinations of beeswax exports from Thailand, together accounting for X% of total exports. These countries were followed by Lao People's Democratic Republic and the Philippines, which together accounted for a further X 2007 to 2020, the biggest increases were in the Philippines (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for beeswax exports from Thailand, comprising X% of total exports. The second position in the ranking was occupied by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Japan amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+X% per year) and Singapore (+X% per year).

Export Prices by Country

In 2020, the average beeswax export price amounted to $X per tonne, falling by -X% against the previous year. Over the period under review, the export price, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, export price reached the peak level of $X per tonne, and then plummeted in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per tonne), while the average price for exports to Lao People's Democratic Republic ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese), while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into Thailand

In 2020, imports of beeswax into Thailand soared to X tonnes, with an increase of X% against the previous year's figure. Overall, imports enjoyed slight growth. The pace of growth appeared the most rapid in 2013 with an increase of X% year-to-year. Over the period under review, imports hit record highs at X tonnes in 2010; however, from 2011 to 2020, imports failed to regain the momentum.

In value terms, beeswax imports skyrocketed to $X in 2020. In general, imports continue to indicate a moderate increase. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Imports peaked at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tonnes), China (X tonnes) and Taiwan (Chinese) (X tonnes) were the main suppliers of beeswax imports to Thailand, together accounting for X% of total imports.

From 2007 to 2020, the biggest increases were in China, while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), China ($X) and the U.S. ($X) were the largest beeswax suppliers to Thailand, together accounting for X% of total imports.

In terms of the main suppliers, China 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

The average beeswax import price stood at $X per tonne in 2020, reducing by -X% against the previous year. In general, import price indicated moderate growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, beeswax import price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2018; however, from 2019 to 2020, import prices failed to regain the momentum.

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

From 2007 to 2020, 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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beeswax in the world?

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India (28K tonnes) remains the largest beeswax consuming country worldwide, accounting for 29% of total volume. Moreover, beeswax consumption in India exceeded the figures recorded by the second-largest consumer, Malaysia (9.4K tonnes), threefold. The third position in this ranking was occupied by Ethiopia (5.7K tonnes), with a 5.8% share.

What are the largest producers of beeswax in the world?

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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. The third position in this ranking was occupied by Malaysia (9.4K tonnes), with a 9.8% share.

What are the leading suppliers of beeswax to Thailand?

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In value terms, the largest beeswax suppliers to Thailand were Germany ($337K), China ($172K) and the U.S. ($153K), with a combined 76% share of total imports.

What are the leading importers of beeswax from Thailand?

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In value terms, Japan ($476K) remains the key foreign market for beeswax exports from Thailand, comprising 64% of total exports. The second position in the ranking was occupied by Taiwan (Chinese) ($211K), with a 28% share of total exports. It was followed by Singapore, with a 2.9% share.

What is the average export price for beeswax in Thailand?

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In 2020, the average beeswax export price amounted to $5,954 per tonne, declining by -28.9% against the previous year.

What is the average import price for beeswax in Thailand?

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In 2020, the average beeswax import price amounted to $7,694 per tonne, shrinking by -1.7% against the previous year.

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