MERCOSUR: Beeswax Market 2025

Beeswax Market Size in MERCOSUR

The MERCOSUR beeswax market contracted slightly to $X in 2022, which is down by -3% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Beeswax Production in MERCOSUR

In value terms, beeswax production reduced to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Argentina (X tons) remains the largest beeswax producing country in MERCOSUR, accounting for 56% of total volume. Moreover, beeswax production in Argentina exceeded the figures recorded by the second-largest producer, Brazil (X tons), threefold. The third position in this ranking was taken by Uruguay (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume in Argentina was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Brazil (+0.7% per year) and Uruguay (+0.9% per year).

Beeswax Exports

Exports in MERCOSUR

In 2022, overseas shipments of beeswax decreased by -48.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. As a result, the exports attained the peak of X tons, and then declined notably in the following year.

In value terms, beeswax exports fell notably to $X in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its value 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. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

In 2022, Argentina (X tons) represented the main exporter of beeswax, making up 75% of total exports. It was distantly followed by Brazil (X tons), creating an 18% share of total exports. The following exporters - Uruguay (X tons) and Chile (X tons) - together made up 6.1% of total exports.

From 2012 to 2022, average annual rates of growth with regard to beeswax exports from Argentina stood at -4.2%. At the same time, Uruguay (+56.9%) and Brazil (+7.4%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +56.9% from 2012-2022. By contrast, Chile (-18.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Uruguay increased by +12 and +4 percentage points, respectively.

In value terms, Brazil ($X) remains the largest beeswax supplier in MERCOSUR, comprising 80% of total exports. The second position in the ranking was held by Argentina ($X), with a 17% share of total exports. It was followed by Uruguay, with a 2.2% share.

In Brazil, beeswax exports expanded at an average annual rate of +4.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-5.6% per year) and Uruguay (+61.0% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, with an increase of 28% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the export price increased by 66%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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 Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+46.1%), while the other leaders experienced mixed trends in the export price figures.

Beeswax Imports

Imports in MERCOSUR

In 2022, imports of beeswax in MERCOSUR dropped notably to X tons, with a decrease of -33.2% against the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 96%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, beeswax imports declined rapidly to $X in 2022. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 76%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia represented the major importing country with an import of about X tons, which accounted for 47% of total imports. Ecuador (X tons) took the second position in the ranking, distantly followed by Brazil (X tons), Peru (X tons) and Guyana (X tons). All these countries together took approx. 48% share of total imports. Chile (X tons) took a minor share of total imports.

Imports into Colombia increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Peru (+35.0%), Ecuador (+33.4%) and Guyana (+26.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +35.0% from 2012-2022. By contrast, Brazil (-10.0%) and Chile (-16.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia, Ecuador, Peru and Guyana increased by +21, +19, +9.2 and +5.4 percentage points, respectively.

In value terms, Colombia ($X) constitutes the largest market for imported beeswax in MERCOSUR, comprising 45% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports. It was followed by Peru, with a 12% share.

In Colombia, beeswax imports expanded at an average annual rate of +2.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (-18.5% per year) and Peru (+36.0% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, rising by 9.2% against the previous year. In general, the import price, however, continues to indicate a abrupt setback. The growth pace was the most rapid in 2020 an increase of 13%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Chile ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform