SADC: Beeswax Market 2024

Beeswax Market Size in SADC

The SADC beeswax market dropped slightly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption showed a pronounced decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Beeswax Production in SADC

In value terms, beeswax production fell to $X in 2022 estimated in export price. Overall, production recorded a slight decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by 47%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Angola (X tons), Tanzania (X tons) and Madagascar (X tons), together accounting for 97% of total production. These countries were followed by Mozambique, which accounted for a further 1.8%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Mozambique (with a CAGR of +0.9%), while production for the other leaders experienced more modest paces of growth.

Beeswax Exports

Exports in SADC

In 2022, beeswax exports in SADC rose markedly to X tons, with an increase of 8.7% compared with the year before. Over the period under review, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 78% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, beeswax exports expanded markedly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 89% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Tanzania prevails in exports structure, finishing at X tons, which was approx. 81% of total exports in 2022. Zambia (X tons) held a 7.3% share (based on physical terms) of total exports, which put it in second place, followed by South Africa (6.6%) and Madagascar (5.2%).

Tanzania was also the fastest-growing in terms of the beeswax exports, with a CAGR of +7.7% from 2012 to 2022. At the same time, Madagascar (+7.5%) and Zambia (+5.1%) displayed positive paces of growth. By contrast, South Africa (-33.1%) illustrated a downward trend over the same period. While the share of Tanzania (+71 p.p.), Zambia (+6.2 p.p.) and Madagascar (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-82.3 p.p.) displayed negative dynamics.

In value terms, Tanzania ($X) remains the largest beeswax supplier in SADC, comprising 90% of total exports. The second position in the ranking was held by Madagascar ($X), with a 4.8% share of total exports. It was followed by South Africa, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value in Tanzania stood at +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Madagascar (+9.3% per year) and South Africa (-28.2% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, with an increase of 2.8% against the previous year. In general, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 an increase of 66%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

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 Tanzania ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+7.3%), while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports in SADC

In 2022, imports of beeswax in SADC skyrocketed to X tons, jumping by 27% on 2021. Over the period under review, imports recorded a pronounced expansion. The growth pace was the most rapid in 2014 with an increase of 160%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, beeswax imports rose markedly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 53% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Africa was the key importer of beeswax in SADC, with the volume of imports amounting to X tons, which was near 61% of total imports in 2022. It was distantly followed by Namibia (X tons) and Botswana (X tons), together committing a 27% share of total imports. The following importers - Democratic Republic of the Congo (X tons), Tanzania (X tons), Angola (X tons) and Zambia (X tons) - together made up 9% of total imports.

Imports into South Africa increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, Namibia (+46.6%), Zambia (+12.0%), Tanzania (+7.2%) and Democratic Republic of the Congo (+1.9%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of +46.6% from 2012-2022. Botswana experienced a relatively flat trend pattern. By contrast, Angola (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Namibia and South Africa increased by +21 and +6.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported beeswax in SADC, comprising 69% of total imports. The second position in the ranking was held by Namibia ($X), with a 16% share of total imports. It was followed by Botswana, with a 3.1% share.

In South Africa, beeswax imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Namibia (+43.5% per year) and Botswana (-6.2% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, dropping by -12.8% against the previous year. In general, the import price saw a pronounced descent. The most prominent rate of growth was recorded in 2016 when the import price increased by 55%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform