South Africa: Candles And Tapers Market 2024

Candles And Tapers Market Size in South Africa

The South African candles and tapers market shrank to $X in 2021, waning by -8.2% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.8% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Candles And Tapers Production in South Africa

In value terms, candles and tapers production shrank to $X in 2021 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.6% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 37% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Candles And Tapers Exports

Exports from South Africa

In 2021, overseas shipments of candles and tapers decreased by -24.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports faced a abrupt contraction. The growth pace was the most rapid in 2015 when exports increased by 26% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, candles and tapers exports declined to $X in 2021. Over the period under review, exports showed a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 1.3%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Swaziland (X tons) were the main destinations of candles and tapers exports from South Africa, together accounting for 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for Zimbabwe (with a CAGR of -3.8%), while shipments for the other leaders experienced a decline.

In value terms, Zimbabwe ($X), Botswana ($X) and Swaziland ($X) appeared to be the largest markets for candles and tapers exported from South Africa worldwide, together comprising 62% of total exports.

Zimbabwe, with a CAGR of -3.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, picking up by 21% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 28%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into South Africa

In 2021, the amount of candles and tapers imported into South Africa amounted to X tons, growing by 7.1% compared with the previous year. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 35% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, candles and tapers imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of candles and tapers to South Africa, accounting for a 72% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, Lesotho (X tons), fourfold. The third position in this ranking was held by the Czech Republic (X tons), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Lesotho (+29.7% per year) and the Czech Republic (+665.1% per year).

In value terms, China ($X) constituted the largest supplier of candles and tapers to South Africa, comprising 58% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total imports. It was followed by Lesotho, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+660.6% per year) and Lesotho (+17.0% per year).

Import Prices by Country

The average candles and tapers import price stood at $X per ton in 2021, rising by 31% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +71.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 31%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Lesotho ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :