Western Africa: Beeswax Market 2025

Beeswax Market Size in Western Africa

After two years of growth, the West African beeswax market decreased by -15.3% to $X in 2022. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Beeswax Production in Western Africa

In value terms, beeswax production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Senegal (X tons) constituted the country with the largest volume of beeswax production, comprising approx. 27% of total volume. Moreover, beeswax production in Senegal exceeded the figures recorded by the second-largest producer, Burkina Faso (X tons), twofold. Sierra Leone (X tons) ranked third in terms of total production with an 11% share.

In Senegal, beeswax production expanded at an average annual rate of +1.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Burkina Faso (+2.3% per year) and Sierra Leone (+1.1% per year).

Beeswax Exports

Exports in Western Africa

In 2022, after two years of growth, there was decline in overseas shipments of beeswax, when their volume decreased by -3.1% to X tons. In general, exports, however, showed prominent growth. The growth pace was the most rapid in 2020 when exports increased by 136%. The volume of export peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, beeswax exports shrank to $X in 2022. Overall, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 137% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, Togo (X tons) was the largest exporter of beeswax, achieving 46% of total exports. Nigeria (X tons) ranks second in terms of the total exports with a 19% share, followed by Burkina Faso (18%), Mali (7.8%) and Guinea (5.4%). Senegal (X tons) held a minor share of total exports.

Exports from Togo increased at an average annual rate of +14.8% from 2012 to 2022. At the same time, Burkina Faso (+24.5%), Nigeria (+14.1%) and Senegal (+11.6%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +24.5% from 2012-2022. By contrast, Mali (-1.9%) and Guinea (-5.6%) illustrated a downward trend over the same period. Togo (+46 p.p.), Burkina Faso (+14 p.p.) and Nigeria (+7.7 p.p.) significantly strengthened its position in terms of the total exports, while Mali and Guinea saw its share reduced by -12.8% and -15.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest beeswax supplier in Western Africa, comprising 48% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 16% share of total exports. It was followed by Nigeria, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Togo stood at +11.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (+24.5% per year) and Nigeria (+12.5% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, declining by -3.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2014 when the export price increased by 34% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+6.6%), while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports in Western Africa

In 2022, overseas purchases of beeswax decreased by -31.5% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 652%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, beeswax imports shrank dramatically to $X in 2022. Over the period under review, imports saw a deep setback. The most prominent rate of growth was recorded in 2013 when imports increased by 183%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Benin dominates imports structure, reaching X tons, which was approx. 89% of total imports in 2022. It was distantly followed by Togo (X tons), comprising a 9.6% share of total imports.

Benin was also the fastest-growing in terms of the beeswax imports, with a CAGR of +29.5% from 2012 to 2022. At the same time, Togo (+6.9%) displayed positive paces of growth. Benin (+70 p.p.) and Togo (+9.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) constitutes the largest market for imported beeswax in Western Africa, comprising 84% of total imports. The second position in the ranking was held by Benin ($X), with less than 0.1% share of total imports.

In Togo, beeswax imports expanded at an average annual rate of +11.0% over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, waning by -49.7% against the previous year. In general, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 123%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Togo ($X per ton), while Benin stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+3.9%).

Source: IndexBox Platform

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