The Bees Wax market size was valued at USD 0.99176 billion in 2021 and is expected to expand at a CAGR of 5.6% during the forecast period, reaching USD 1.35 billion by 2027.
Bees are one the most important insects on Earth. They pollinate flowers and plants, as well produce honey and wax. Beeswax has many uses. It is used as a polishing agent, cosmetics, and in candles. Beeswax acts as a sealant, waterproofing material and a natural wax. Apis honeybees create beeswax from natural wax. The eight wax-producing glands located in the abdominal sections of worker bees form the wax into scales. These glands then dispose it at or in the hive. All types of honeybees produce beeswax. However, the waxes made by each species have slightly different chemical and physical characteristics.
China was the world’s largest exporter of beeswax in 2014, with 11,000 tonnes exported. In the same year, it earned USD 60 million in revenue. This represents a 19% increase in revenue compared to the prior year. Malaysia and Germany accounted for 27% of the global beeswax market share. The top destinations for global import were Germany, Japan and Italy.
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Bees Wax Market Trends, Drivers and Restraints
1. There are many uses for beeswax
Beeswax can be used in many industries, including cosmetics, pharmaceuticals and confectionery. It is used in the manufacture of creams, ointments and gels for pharmaceutical purposes. It is used in cosmetic manufacturing to make beauty creams, soaps and moisturizers.
2. Asia and Africa dominate the market
Because of the high use of beeswax to make pharmaceutical products, Asia and Africa are the largest beeswax producers and consumers.
Its side effects on the body, especially when taken in large amounts, are its major limitation. Honey and other honey products can block the intestinal tract and cause allergic reactions.
There is a growing demand for beeswax in both its organic and natural form, as well as its extensive application in skincare products, which is a rising trend in personal care. It can be used to treat eczema and dry skin, and it can also reduce stretch marks.
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Recent Developments
Hilltop introduced a beeswax lipbalm in 2021. It is made with natural emulsifiers, which hydrate and replenish. The balm also protects from UV rays. It has created a market for natural products that consumers have recently requested.
Bacofoil introduced new beeswax wraps in 2021 made from organic beeswax. This is a way for consumers to choose a sustainable food wrap from a brand that is known for high-quality product performance.
Charlotte Tilbury introduced magic lip scrub in 2021. It uses natural products such as shea butter and beeswax, to remove dead skin cells. Organic products are booming.
Key Market Segments:
Type
- White Wax
- Yellow Wax
Application
- Food
- Cosmetics
- Pharmaceuticals
Key Market Players included in the report:
- Roger A Reed
- Strahl & Pitsch
- Akrochem
- Poth Hille
- Paramold
- Adrian
- Bee Natural Uganda
- Bills Bees
- New Zealand Beeswax
- Frank B Ross
- Arjun Bees Wax Industries
- Henan Weikang
- Henan Dongyang
- Dongguang Jinding
- Dongguang Longda
- Dongguang Henghong
- Dongguang Yiyuan
Regional Segment Analysis:
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Questions answered in the Report
- Is there a market for beeswax?
- What industry uses beeswax?
- Is beeswax a commodity?
- Who are the leading market players active in the Beeswax market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Beeswax” Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the “Beeswax” Market?
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WHAT TO TAKE AWAY FROM THIS ARTICLE:
- There is a growing demand for beeswax in both its organic and natural form, as well as its extensive application in skincare products, which is a rising trend in personal care.
- Because of the high use of beeswax to make pharmaceutical products, Asia and Africa are the largest beeswax producers and consumers.
- This is a way for consumers to choose a sustainable food wrap from a brand that is known for high-quality product performance.