Croatia: Beeswax Market 2024

Beeswax Market Size in Croatia

The Croatian beeswax market soared to $X in 2022, jumping by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a slight expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Beeswax Exports

Exports from Croatia

In 2022, exports of beeswax from Croatia declined dramatically to X tons, waning by -42.9% compared with 2021. Overall, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 560%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, beeswax exports reduced markedly to $X in 2022. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 444% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovenia (X kg), Bosnia and Herzegovina (X kg) and Ireland (X kg) were the main destinations of beeswax exports from Croatia, with a combined 89% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +91.2%), while the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Bosnia and Herzegovina ($X) and Ireland ($X) were the largest markets for beeswax exported from Croatia worldwide, together accounting for 89% of total exports.

In terms of the main countries of destination, Ireland, with a CAGR of +77.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average beeswax export price amounted to $X per ton, picking up by 7% against the previous year. Overall, the export price enjoyed mild growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 81%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Slovenia ($X per ton) and the UK ($X per ton), while the average price for exports to Ireland ($X per ton) and North Macedonia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into Croatia

Beeswax imports into Croatia surged to X tons in 2022, rising by 30% on 2021 figures. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 151%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, beeswax imports soared to $X in 2022. In general, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -40.0% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 73%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Bulgaria (X tons), Germany (X tons) and Slovenia (X tons) were the main suppliers of beeswax imports to Croatia, together accounting for 61% of total imports. The Netherlands, Italy, Bosnia and Herzegovina and Belgium lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +625.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest beeswax suppliers to Croatia were Germany ($X), Bulgaria ($X) and the Netherlands ($X), with a combined 60% share of total imports. Slovenia, Italy, Bosnia and Herzegovina and Belgium lagged somewhat behind, together accounting for a further 38%.

In terms of the main suppliers, Belgium, with a CAGR of +425.8%, saw the highest growth rate of 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 ton in 2022, dropping by -8.2% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beeswax import price increased by +36.6% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 49%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

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 Belgium ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :