U.S. - Beeswax - Market Analysis, Forecast, Size, Trends and Insights
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View PricingU.S. Beeswax Market Rebounds to $25M
IndexBox has just published a new report: 'U.S. - Beeswax - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
In 2021, after two years of decline, there was significant growth in the U.S. beeswax market, when its value increased by 40% to $25M. Overall, consumption enjoyed strong growth. The growth pace was the most rapid in 2018 when the market value increased by 46% year-to-year. Over the period under review, the market reached the maximum level at $32M in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.
Production in the U.S.
In 2021, production of beeswax was estimated at 1.6K tons for the first time since 2018, thus ending a two-year declining trend. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 0.4% year-to-year. Beeswax production peaked at 1.6K tons in 2013; afterwards, it flattened through to 2021. Beeswax output in the U.S. indicated a relatively flat trend pattern, which was largely conditioned by a relatively flat trend pattern of the producing animals and a relatively flat trend pattern in yield figures.
In value terms, beeswax production contracted to $7.1M in 2021. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of 8.9% against the previous year. Beeswax production peaked at $7.5M in 2010; however, from 2011 to 2021, production remained at a lower figure.
Exports from the U.S.
In 2021, overseas shipments of beeswax decreased by -20% to 1.6K tons, falling for the fourth year in a row after two years of growth. Overall, exports, however, enjoyed a modest expansion. The pace of growth appeared the most rapid in 2010 with an increase of 58% against the previous year. Exports peaked at 3.6K tons in 2017; however, from 2018 to 2021, exports remained at a lower figure.
In value terms, beeswax exports fell to $7.7M in 2021. The most prominent rate of growth was recorded in 2010. Exports peaked at $16M in 2017; however, from 2018 to 2021, exports stood at a somewhat lower figure.
Exports by Country
Canada (476 tons), Germany (307 tons) and Chile (280 tons) were the main destinations of beeswax exports from the U.S., together comprising 54% of total exports.
From 2007 to 2020, the biggest increases were in Chile (+54.3% per year), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Canada ($2.1M), Germany ($1.9M) and South Korea ($1.3M) constituted the largest markets for beeswax exported from the U.S. worldwide, together comprising 59% of total supplies. Mexico, Chile, China and France lagged somewhat behind, together accounting for a further 24%.
Export Prices by Country
The average beeswax export price stood at $4,482 per ton in 2020, surging by 2.6% against the previous year. There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Germany ($6,160 per ton), while the average price for exports to Chile ($1,954 per ton) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced more modest paces of growth.
Imports into the U.S.
In 2021, after two years of decline, there was significant growth in purchases abroad of beeswax, when their volume increased by 31% to 3.9K tons. In general, total imports indicated temperate growth from 2007 to 2021: its volume increased at an average annual rate of +4.3% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 when imports increased by 31% y-o-y. Imports peaked at 4.5K tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.
In value terms, beeswax imports soared to $25M in 2021. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2012 when imports increased by 49% year-to-year. Over the period under review, imports hit record highs at $37M in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.
Imports by Country
China (971 tons), Vietnam (572 tons) and Tanzania (360 tons) were the main suppliers of beeswax imports to the U.S., with a combined 64% share of total purchases. Canada, Argentina, India and Togo lagged somewhat behind, together accounting for a further 31%.
In value terms, the largest beeswax suppliers to the U.S. were China ($5.5M), Vietnam ($3.8M) and Tanzania ($3M), with a combined 59% share of total imports.
Tanzania saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2020, the average beeswax import price amounted to $6,933 per ton, growing by 2% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Tanzania ($8,454 per ton), while the price for India ($5,489 per ton) was amongst the lowest. From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Togo, while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the beeswax market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 1183 - Beeswax
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
