South-Eastern Asia: Beeswax Market 2025

Beeswax Market Size in South-Eastern Asia

The Southeast Asian beeswax market was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Beeswax Production in South-Eastern Asia

In value terms, beeswax production contracted to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +6.1% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 22% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons), together accounting for 98% of total production.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +1.0%), while production for the other leaders experienced more modest paces of growth.

Beeswax Exports

Exports in South-Eastern Asia

After two years of growth, overseas shipments of beeswax decreased by -34.7% to X tons in 2022. Total exports indicated a tangible increase from 2012 to 2022: its volume 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 most prominent rate of growth was recorded in 2015 with an increase of 72% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced notably in the following year.

In value terms, beeswax exports reduced sharply to $X in 2022. Overall, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 55%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) and Vietnam (X tons) prevails in exports structure, together comprising 92% of total exports. It was distantly followed by Thailand (X tons), achieving a 6.4% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +15.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest beeswax supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to +10.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+18.8% per year) and Thailand (+15.3% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 28% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.8%. The most prominent rate of growth was recorded in 2013 when the export price increased by 29% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.1%), while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of beeswax increased by 30% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 57%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, beeswax imports soared to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The Philippines (X tons) and Thailand (X tons) represented roughly 63% of total imports in 2022. It was distantly followed by Singapore (X tons) and Vietnam (X tons), together generating a 30% share of total imports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +32.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2022, with a combined 81% share of total imports.

Singapore, with a CAGR of +43.1%, saw the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per ton in 2022, falling by -5.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 20%. Over the period under review, import prices hit record highs 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 Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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