MENA: Beeswax Market 2025

Beeswax Market Size in MENA

For the fourth year in a row, the MENA's beeswax market recorded decline in sales value, which decreased by -1.5% to $X in 2022. Overall, consumption, however, saw a perceptible slump. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Beeswax Production in MENA

In value terms, beeswax production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible contraction. The pace of growth was the most pronounced in 2016 when the production volume increased by 209% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

The country with the largest volume of beeswax production was Turkey (X tons), accounting for 90% of total volume. Moreover, beeswax production in Turkey exceeded the figures recorded by the second-largest producer, Syrian Arab Republic (X tons), more than tenfold. Egypt (X tons) ranked third in terms of total production with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey stood at -1.1%. In the other countries, the average annual rates were as follows: Syrian Arab Republic (+1.4% per year) and Egypt (-4.3% per year).

Beeswax Exports

Exports in MENA

In 2022, overseas shipments of beeswax increased by 22% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, saw a mild contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 105%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, beeswax exports skyrocketed to $X in 2022. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 106%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which reached 46% of total exports. Egypt (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Iran (X tons) and Yemen (X tons). All these countries together took near 49% share of total exports. Jordan (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of +24.2% from 2012 to 2022. At the same time, Jordan (+56.5%), Iran (+52.0%) and the United Arab Emirates (+37.6%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of +56.5% from 2012-2022. By contrast, Yemen (-9.1%) and Egypt (-11.5%) illustrated a downward trend over the same period. Turkey (+42 p.p.), the United Arab Emirates (+15 p.p.), Iran (+10 p.p.) and Jordan (+3.2 p.p.) significantly strengthened its position in terms of the total exports, while Yemen and Egypt saw its share reduced by -6.4% and -34.8% from 2012 to 2022, respectively.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Egypt ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 81% share of total exports. Yemen, Jordan and Iran lagged somewhat behind, together accounting for a further 17%.

Jordan, with a CAGR of +52.1%, recorded 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 MENA amounted to $X per ton, declining by -4.8% against the previous year. Overall, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 58%. The level of export peaked at $X per ton in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Yemen ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+17.7%), while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports in MENA

In 2022, approx. X tons of beeswax were imported in MENA; increasing by 21% on the previous year. In general, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by 64% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, beeswax imports surged to $X in 2022. Overall, imports, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2018 with an increase of 51% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Algeria represented the main importer of beeswax in MENA, with the volume of imports accounting for X tons, which was approx. 36% of total imports in 2022. Oman (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons), Turkey (X tons), Syrian Arab Republic (X tons), Iraq (X tons) and Lebanon (X tons). All these countries together held approx. 49% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to beeswax imports into Algeria stood at +3.7%. At the same time, Oman (+30.6%), Iraq (+18.5%), Lebanon (+7.3%) and Syrian Arab Republic (+1.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in MENA, with a CAGR of +30.6% from 2012-2022. By contrast, Turkey (-11.5%) and the United Arab Emirates (-16.5%) illustrated a downward trend over the same period. While the share of Algeria (+23 p.p.), Oman (+14 p.p.), Iraq (+4.4 p.p.), Lebanon (+3.5 p.p.) and Syrian Arab Republic (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-5.3 p.p.) and the United Arab Emirates (-26 p.p.) displayed negative dynamics.

In value terms, the largest beeswax importing markets in MENA were Algeria ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 54% of total imports. Oman, Iraq, Lebanon and Syrian Arab Republic lagged somewhat behind, together accounting for a further 26%.

In terms of the main importing countries, Oman, with a CAGR of +26.2%, 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 import price in MENA stood at $X per ton in 2022, declining by -4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2013 an increase of 42%. Over the period under review, import prices attained the peak figure 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 importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform