Thailand: Beeswax Market Overview 2021

Beeswax Market Size in Thailand

In 2019, the Thai beeswax market decreased by -X% to $X, falling for the fourth consecutive year after three years of growth. In general, consumption recorded a moderate increase. The growth pace was the most rapid in 2013 with an increase of X% y-o-y. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2019, consumption stood at a somewhat lower figure.

Beeswax Production in Thailand

In value terms, beeswax production stood at $X in 2019 estimated in export prices. Over the period under review, production faced a dramatic shrinkage. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2019, production stood at a somewhat lower figure.

In 2019, the average beeswax yield in Thailand amounted to X kg per head, stabilizing at the year before. Overall, the yield continues to indicate a relatively flat trend pattern.

The number of animals for beeswax production in Thailand was estimated at X head in 2019, therefore, remained relatively stable against the previous year. Over the period under review, the number of producing animals saw a relatively flat trend pattern.

Beeswax Exports

Exports from Thailand

In 2019, overseas shipments of beeswax decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes. From 2018 to 2019, the growth exports failed to regain the momentum.

In value terms, beeswax exports declined modestly to $X in 2019. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. Exports peaked at $X in 2017; however, from 2018 to 2019, exports failed to regain the momentum.

Exports by Country

Nigeria (X tonnes) was the main destination for beeswax exports from Thailand, with a X% share of total exports. It was followed by Taiwan (Chinese) (X tonnes), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of volume to Nigeria amounted to +X%.

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

From 2007 to 2019, the average annual growth rate of value to Nigeria totaled +X%.

Export Prices by Country

The average beeswax export price stood at $X per tonne in 2019, jumping by X% against the previous year. Over the period under review, the export price saw a strong expansion. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was Taiwan (Chinese) ($X per tonne), while the average price for exports to Nigeria stood at $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese).

Beeswax Imports

Imports into Thailand

Beeswax imports into Thailand declined markedly to X tonnes in 2019, shrinking by -X% on the previous year. Overall, imports saw a slight downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tonnes in 2010; however, from 2011 to 2019, imports remained at a lower figure.

In value terms, beeswax imports fell rapidly to $X in 2019. In general, imports continue to indicate mild growth. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018, and then declined significantly in the following year.

Imports by Country

Germany (X tonnes), the Netherlands (X tonnes) and the U.S. (X tonnes) were the main suppliers of beeswax imports to Thailand, with a combined X% share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands, while imports for the other leaders experienced mixed trend patterns.

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

Among the main suppliers, the Netherlands 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

The average beeswax import price stood at $X per tonne in 2019, reducing by -X% against the previous year. In general, import price indicated temperate growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, beeswax import price increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2011 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per tonne in 2018, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the Netherlands ($X per tonne), while the price for Taiwan (Chinese) ($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 Netherlands, 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. Turkey, Argentina, South Korea, the U.S., Kenya, Angola, Germany, China, Spain and Mexico lagged somewhat behind, together accounting 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 Thailand?

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In value terms, the Netherlands ($181K), Germany ($179K) and the U.S. ($104K) constituted the largest beeswax suppliers to Thailand, together accounting for 77% of total imports.

What are the leading importers of beeswax from Thailand?

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In value terms, Nigeria ($465K) emerged as the key foreign market for beeswax exports from Thailand, comprising 71% of total exports. The second position in the ranking was occupied by Taiwan (Chinese) ($102K), with a 15% share of total exports.

What is the average export price for beeswax in Thailand?

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The average beeswax export price stood at $8,373 per tonne in 2019, growing by 52% against the previous year.

What is the average import price for beeswax in Thailand?

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The average beeswax import price stood at $7,826 per tonne in 2019, with a decrease of -12.7% against the previous year.