Beeswax Market: Global Industry Analysis and Forecast (2023-2029)

Global Beeswax Market size was valued at US$ 0.56 Bn in 2022 and the total revenue is expected to grow at 2.8 % through 2023 to 2029, reaching nearly US$ 0.69 Bn.
Global Beeswax Market Characteristics:
Dabur India Ltd is a well-known fast-moving consumer goods (FMCG) company in India. The company is also a global leader in Ayurveda, including over 250 herbal/Ayurvedic products. They work in popular consumer goods areas like hair care and oral care. Foods, medical services, skin care, and home care are just a few of the topics covered. Dabur India Ltd had revenue of USD 1.23 Billion in 2022. In financial year 2022, Dabur India Limited recorded the greatest share of sales from the Middle East. Key markets like Saudi Arabia and the United Arab Emirates accounted for just over 28% of the total. Asia came in second with approximately 23% of the market share in the same year. The Indian consumer products company focused mostly on natural personal care as its footprint in global markets grew steadily.To know about the Research Methodology :- Request Free Sample Report
Global Beeswax Market Overview:
Beeswax is a wax obtained by decomposing the honeycomb dividers formed by bumble bees. There is a wide range of beeswax available, ranging from unpolished yellow beeswax to white beeswax manufactured by declining yellow beeswax. Beeswax is used in a variety of ways, including as a covering specialist in food, particularly in bakeries and confectioneries. Beeswax is also used as a delivery agent, a texturizer for chewing gum bases, a stabiliser and transporter for food additives, and as an obfuscator. It is used in a variety of applications, including cosmetics and pharmaceuticals. Due to the sheer interest in redden, eye shadow, lip shine, lip medication, and moisturizers, beautifiers propelled the market. The second most common application was for drugs. It was estimated to be the fastest emerging fragment based on beeswax covering properties. Metal extending ornamentation, exhibiting, candle fabrication, wood and calfskin finishes, mechanical oils, and waterproofed materials are some of the other applications.
Global Beeswax Market Dynamics:
In the cooking, pharmaceutical, and cosmetic industries, beeswax is in high demand. The beeswax market may grow over the estimate period as a result of rising demand from food and confectionery producers, higher customer awareness of their therapeutic characteristics, increased discretionary income, and customers' attitudes toward the usage of organic ingredients in personal grooming.

Additionally, the health-conscious movement has taken hold across Europe, and clients are looking for healthy and natural options. This tendency has had an impact on the glazing agent business, as well as a rising demands for natural waxes like as beeswax. As a result, beeswax is now used in baked goods and confectionary products.

The main major challenge is its known negative health consequences when ingested in excessive amounts. It has the potential to produce intestinal blockages and allergic responses in persons who are allergic to honey and its components.

The increasing awareness of beeswax in its natural and organic form, as well as its extensive use in skincare products such as lip care, eczema, pimples, dry skin, and stretch mark reduction, is a key development in the personal care market.
Global Beeswax Market Segment Analysis:
The global Beeswax Market is segmented by Product Type and Application.

Based on the Application, the global Beeswax market is segmented into Pharmaceuticals, Cosmetics, and Others. The Cosmetics segment held the largest market share of xx% in 2022. The Beeswax in bath and body products is taking the spotlight over similar skin protectants like petroleum jelly. It also has medicinal benefits to its use in cosmetic products. It is a common ingredient for many of the cosmetics women use every day like lip balms, lip sticks, lip gloss, eye shadow, eye liner, and even blush. An increase in the demand for lip balm products are expected to enhance the production of the beeswax. Whereas, the pharmaceuticals held the second largest market share of xx% in 2022. Due to the coating qualities of beeswax, it was expected to be the fastest growing segment. Metal casting moulding, modelling, candle making, wood and leather treatments, industrial lubricants, and waterproofed fabrics are some of the many usage.
Regional Insights:
Asia Pacific dominates the global Beeswax market during the forecast period 2022-2029. Asia Pacific is expected to hold the largest market share of 43.30% by 2029. Because of the pharmaceuticals sector's demand. During the next seven years, demand will be driven by developing nations in Asia Pacific as a result of increased disease consumption and high disposable income. This may hasten the development of countries such as India and China. Because of the rise of industrial enterprises in the region, Africa can only grow at a slow pace.

Europe is expected to grow at the highest CAGR of 3.1% in the global beeswax market during the forecast period. In Europe, it is widely used in the food sector as a glazing agent in confectioneries and as a baking ingredient. Beeswax is heavily imported in the Europe by nations such as Germany, France, and the United Kingdom for a variety of uses and applications.

The objective of the report is to present a comprehensive analysis of the global Beeswax Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Beeswax Market dynamic, structure by analyzing the market segments and project the global Beeswax Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Beeswax Market make the report investor’s guide.
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Global Beeswax Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 0.56 Bn.


Forecast Period 2023 to 2029 CAGR:
2.8%
Market Size in 2029:
US $ 0.69 Bn.


 Segments Covered:
by Product Type
Organic
Conventional


by Application
Pharmaceuticals
Cosmetics
Others


by Type
Yellow Beeswax
White Beeswax
Others


by Distribution Channel
Direct
Indirect



Global Beeswax Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players
1. Roger A Reed
2. Strahl and Pitsch
3. Akrochem
4. Poth Hille
5. Paramold
6. Adrian
7. Bee Natural Uganda
8. Bills Bees
9. New Zealand Beeswax
10. Frank B Ross
11. Arjun Bees Wax Industries
12. Dabur India Ltd.
13. Seidler Chemical Co.
14. Bulk Apothecary
15. Pacific Coast Chemicals
16. Jedwards International Inc.
17. Frank B Ross Co
18. City Chemical LLC
19. TMC Industries
20. Shandong Bokang Apiculture Co., Ltd.
21. Alfa Chemical Corp
22. Hase Petroleum Wax Co.
23. Aroma Naturals Inc.
24. Chengdu Feng`s Apiculture Co., Ltd
25. Thomas Apiculture SAS
26. Luberon Apiculture
27. Glenn Apiaries
28. Dutch Gold Honey
29. Miller`s Honey Company
30. Henan Weikang
Frequently Asked Questions:
1] What segments are covered in Beeswax Market report?
Ans. The segments covered in Beeswax Market report are based on Product Type, Type ,Distribution Channel and Application.

2] Which region is expected to hold the highest share in the global Beeswax Market?
Ans. Asia Pacific is expected to hold the highest share in the global Beeswax Market.

3] What is the market size of global Beeswax Market by 2029?
Ans. The market size of global Beeswax Market by 2029 is US $ 0.69 Bn.

4] Who are the top key players in the global Beeswax Market?
Ans. Roger A Reed, Strahl and Pitsch, Akrochem, Poth Hille, Paramold, Adrian, Bee Natural Uganda are the top key players in the global Beeswax Market.

5] What is the impact of COVID-19 on the Beeswax market?
Ans. The organic beeswax market is growing during the pandemic because it has some organic characteristics that are beneficial to beauty and wellness which is used in the cosmetics and personal care products.

6] What is the market size of global Beeswax Market in 2022?
Ans. The market size of global Beeswax Market in 2022 was US $ 0.56 Bn.