Eastern Europe: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Eastern Europe

The East European vegetable waxes market declined to $X in 2022, falling by X% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Waxes Production in Eastern Europe

In value terms, vegetable waxes production fell to $X in 2022 estimated in export price. Overall, production, however, recorded a deep downturn. The growth pace was the most rapid in 2013 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Vegetable Waxes Exports

Exports in Eastern Europe

In 2022, approx. X tons of vegetable waxes were exported in Eastern Europe; with an increase of X% on the year before. In general, exports showed temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vegetable waxes exports soared to $X in 2022. Overall, exports showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lithuania was the largest exporter of vegetable waxes in Eastern Europe, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. Poland (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (X%). Russia (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

Lithuania was also the fastest-growing in terms of the vegetable waxes exports, with a CAGR of X% from 2012 to 2022. At the same time, Russia (X%) and the Czech Republic (X%) displayed positive paces of growth. By contrast, Bulgaria (X%) and Poland (X%) illustrated a downward trend over the same period. Lithuania (X p.p.), Russia (X p.p.) and the Czech Republic (X p.p.) significantly strengthened its position in terms of the total exports, while Bulgaria and Poland saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the largest vegetable waxes supplying countries in Eastern Europe were Lithuania ($X), Poland ($X) and Bulgaria ($X), together accounting for X% of total exports. Russia and the Czech Republic lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by X% against the previous year. Overall, the export price recorded tangible growth. The pace of growth appeared the most rapid in 2020 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced more modest paces of growth.

Vegetable Waxes Imports

Imports in Eastern Europe

In 2022, after four years of growth, there was significant decline in overseas purchases of vegetable waxes, when their volume decreased by X% to X tons. In general, imports saw a drastic downturn. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, vegetable waxes imports dropped to $X in 2022. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Estonia represented the largest importing country with an import of about X tons, which reached X% of total imports. Poland (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (X%), Russia (X%), Bulgaria (X%) and Belarus (X%). Ukraine (X tons) and Hungary (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vegetable waxes imports into Estonia stood at X%. At the same time, Belarus (X%), Ukraine (X%), Bulgaria (X%), Hungary (X%), the Czech Republic (X%) and Russia (X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Poland (X%) illustrated a downward trend over the same period. While the share of Estonia (X p.p.), the Czech Republic (X p.p.), Bulgaria (X p.p.), Russia (X p.p.), Belarus (X p.p.), Ukraine (X p.p.) and Hungary (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Poland (X p.p.) displayed negative dynamics.

In value terms, the largest vegetable waxes importing markets in Eastern Europe were Poland ($X), Estonia ($X) and Belarus ($X), with a combined X% share of total imports.

Belarus, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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