Report Update Nov 1, 2024

Sri Lanka - Beeswax - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Beeswax Market 2024

Beeswax Market Size in Sri Lanka

The Sri Lankan beeswax market declined significantly to $X in 2022, dropping by -46.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a noticeable downturn. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Beeswax Exports

Exports from Sri Lanka

After four years of decline, overseas shipments of beeswax increased by 5.4% to X kg in 2022. In general, exports, however, showed a precipitous decline. The most prominent rate of growth was recorded in 2017 with an increase of 88%. The exports peaked at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, beeswax exports rose rapidly to $X in 2022. Over the period under review, exports, however, faced a precipitous decrease. The pace of growth was the most pronounced in 2017 with an increase of 75%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X kg) was the main destination for beeswax exports from Sri Lanka, accounting for a 97% share of total exports. It was followed by Maldives (X kg), with a 2.6% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India amounted to -1.9%.

In value terms, India ($X) remains the key foreign market for beeswax exports from Sri Lanka, comprising 99% of total exports. The second position in the ranking was held by Maldives ($X), with a 0.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to -11.7%.

Export Prices by Country

In 2022, the average beeswax export price amounted to $X per ton, remaining constant against the previous year. In general, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by 21%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Maldives totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+4.3%), while the prices for the other major destinations experienced a decline.

Beeswax Imports

Imports into Sri Lanka

After three years of growth, purchases abroad of beeswax decreased by -48.2% to X tons in 2022. Overall, imports saw a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 89%. As a result, imports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, beeswax imports contracted dramatically to $X in 2022. In general, imports showed a pronounced decline. The most prominent rate of growth was recorded in 2021 when imports increased by 79% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of beeswax to Sri Lanka, with a 70% share of total imports. Moreover, beeswax imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Brazil (X kg), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.1% per year) and Brazil (-8.8% per year).

In value terms, China ($X), India ($X) and Brazil ($X) constituted the largest beeswax suppliers to Sri Lanka, with a combined 95% share of total imports.

China, with a CAGR of +12.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average beeswax import price amounted to $X per ton, increasing by 5.4% against the previous year. In general, the import price, however, saw a slight downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by 34%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for beeswax in the world?

The countries with the highest volumes of beeswax consumption in 2021 were India, Benin and France, with a combined 44% share of global consumption.

What are the largest producers of beeswax in the world?

The countries with the highest volumes of beeswax production in 2021 were India, China and Ethiopia, together accounting for 51% of global production. Argentina, Turkey, South Korea, Indonesia, Kenya, Angola, Tanzania, Brazil, the United States and Spain lagged somewhat behind, together accounting for a further 31%.

What are the leading suppliers of beeswax to Sri Lanka?

In value terms, the largest beeswax suppliers to Sri Lanka were India, China and Malaysia, together comprising 91% of total imports.

What are the leading importers of beeswax from Sri Lanka?

In value terms, India remains the key foreign market for beeswax exports from Sri Lanka.

What is the average export price for beeswax in Sri Lanka?

The average beeswax export price stood at $3,515 per ton in 2021, leveling off at the previous year.

What is the average import price for beeswax in Sri Lanka?

In 2021, the average beeswax import price amounted to $5,359 per ton, surging by 7.6% against the previous year.

This report provides an in-depth analysis of the beeswax market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1183 - Beeswax

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023