Eastern Asia: Beeswax Market 2025

Beeswax Market Size in Eastern Asia

In 2022, the East Asian beeswax market decreased by -2.2% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Beeswax Production in Eastern Asia

In value terms, beeswax production totaled $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.9% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 72% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

China (X tons) remains the largest beeswax producing country in Eastern Asia, accounting for 74% of total volume. Moreover, beeswax production in China exceeded the figures recorded by the second-largest producer, South Korea (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest.

Beeswax Exports

Exports in Eastern Asia

In 2022, shipments abroad of beeswax increased by 2.2% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by 31%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, beeswax exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of beeswax, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the beeswax exports, with a CAGR of +3.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest beeswax supplier in Eastern Asia.

In China, beeswax exports expanded at an average annual rate of +1.8% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 7.2% against the previous year. In general, the export price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2016 an increase of 33%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.3% per year.

Beeswax Imports

Imports in Eastern Asia

Beeswax imports reduced slightly to X tons in 2022, flattening at 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 15% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, beeswax imports declined to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) represented the largest importer of beeswax, committing 60% of total imports. South Korea (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by China (7.9%) and Taiwan (Chinese) (7.3%).

Japan experienced a relatively flat trend pattern with regard to volume of imports of beeswax. At the same time, China (+2.2%) and South Korea (+2.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.2% from 2012-2022. By contrast, Taiwan (Chinese) (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and Japan increased by +4.3 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined 91% share of total imports.

Among the main importing countries, South Korea, with a CAGR of +4.5%, saw the highest rates of growth with regard to 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 import price in Eastern Asia stood at $X per ton in 2022, reducing by -10.4% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 9%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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