Canada: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Canada

The Canadian vegetable waxes market contracted remarkably to $X in 2022, reducing by X% against the previous year. In general, consumption faced a deep setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Waxes Production in Canada

In value terms, vegetable waxes production dropped to $X in 2022 estimated in export price. In general, production showed a drastic downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Vegetable waxes production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Waxes Exports

Exports from Canada

For the third year in a row, Canada recorded growth in shipments abroad of vegetable waxes, which increased by X% to X tons in 2022. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable waxes exports totaled $X in 2022. In general, exports saw resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons) was the main destination for vegetable waxes exports from Canada, with a X% share of total exports. Moreover, vegetable waxes exports to Italy exceeded the volume sent to the second major destination, the United States (X tons), threefold. Taiwan (Chinese) (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the United States ($X) remains the key foreign market for vegetable waxes exports from Canada, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average vegetable waxes export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vegetable Waxes Imports

Imports into Canada

In 2022, after two years of growth, there was significant decline in overseas purchases of vegetable waxes, when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, vegetable waxes imports contracted to $X in 2022. In general, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of vegetable waxes to Canada, with a X% share of total imports. Moreover, vegetable waxes imports from the United States exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Brazil (X% per year).

In value terms, the United States ($X) constituted the largest supplier of vegetable waxes to Canada, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average vegetable waxes import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decline. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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