Beeswax Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2019
  • Pages: 126
  • SKU: IRTNTR40071
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The beeswax market size has the potential to grow by USD 65.67 million during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This beeswax market research report analyzes the market’s competitive landscape and offers information on several market vendors, including Akrochem Corp., Beeswax Co. LLC, Frank B. Ross Co. Inc., Kahl GmbH & Co. KG, Koster Keunen, New Zealand Beeswax Ltd., Norevo GmbH, Paramold Manufacturing LLC, Poth Hille & Co Ltd., and Strahl & Pitsch Inc. Also, the report provides a detailed analysis of the market by product (conventional beeswax and organic beeswax) and geography (APAC, Europe, MEA, North America, and South America).

Statistical Analysis of Beeswax Market

Beeswax-Market-Size

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Market Competitive Analysis

The beeswax market is fragmented, and the degree of fragmentation will increase during the forecast period. Several vendors have started selling their beeswax products through their web portals for the convenience of customers. Akrochem Corp., Beeswax Co. LLC, and Frank B. Ross Co. Inc. are some of the major market participants.

Factors such as the growing awareness about the benefits of beeswax will create immense growth opportunities for market vendors. However, challenges such as the availability of substitutes will impede the growth of the market participants. To boost the beeswax market demand, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

This beeswax market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies which will help clients improve their market position. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this report includes information on the upcoming beeswax market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This beeswax market analysis report provides information on the production, sustainability, and prospects of several leading beeswax manufacturers, including:

  • Akrochem Corp.
  • Beeswax Co. LLC
  • Frank B. Ross Co. Inc.
  • Kahl GmbH & Co. KG
  • Koster Keunen
  • New Zealand Beeswax Ltd.
  • Norevo GmbH
  • Paramold Manufacturing LLC
  • Poth Hille & Co Ltd.
  • Strahl & Pitsch, Inc.

Beeswax Market: Segmentation by Region

Beeswax-Market-Share-by-Region

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APAC is one of the largest markets for beeswax, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing adoption of beeswax-based products and the growth of the e-commerce sector are some of the significant factors contributing to the beeswax market growth in this region.

Over 42% of the market’s growth will originate from APAC during the forecast period. India is a crucial market for beeswax in APAC. Market growth in this region will be faster than the growth of the market in other geographies.

Beeswax Market: Segmentation by Product

Beeswax-Market-Share-by-Product

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The price of conventional beeswax is less than organic beeswax. This coupled with the health benefits of conventional beeswax and its application in end-user industries will drive the growth of the beeswax market in this segment.

However, market growth in this segment will be slower than the growth of the market in the organic beeswax segment. This report provides an accurate prediction of the contribution of all the beeswax market segmentation.

Beeswax Market Dynamics

The growing awareness about the benefits of beeswax will be a significant factor in driving the growth of the beeswax market size. Beeswax has the aroma of honey and eliminates airborne pollutants when burnt. It can also soothe and hydrate skin, promote healthy hair growth, and protect foods from the effect of acids. These benefits make it ideal for use in various applications, including aromatherapy, cosmetics, and the preservation of food products. Market vendors are offering beeswax in different sizes and particles for industry-specific applications. Beeswax in different forms is used for various industrial applications. Slabbed beeswax is used to produce beeswax for soaps or candles, granulates are used to make beeswax for crafting applications, while synthetic white beeswax is used to make packaging materials for the food and beverage industry. The various advantages of beeswax and its availability in different forms for varied applications are expected to fuel the growth of the beeswax market during the forecast period.

  • The increasing popularity of beeswax product kits will be one of the critical beeswax market trends contributing to market growth.
  • The demand for assorted cosmetic kits is increasing among consumers as it provides a set of various products and is less expensive than buying each product separately.
  • The increasing availability of such cosmetic kits will boost the adoption of beeswax-based cosmetics such as body lotions and lipsticks.
  • Several vendors are offering beeswax-based body lotions and lipsticks. For instance, the cosmetic kit provided by The Naked Bee includes a hand and body lotion made from lavender and absolute beeswax.
  • Various other product kits are available on e-commerce platforms with various combinations of beeswax products such as multi-color candles, candle sheets, and food wrappers.
  • These factors will boost the demand for beeswax, especially from cosmetic manufacturers. 
  • As a result of such factors, the beeswax market will grow at a CAGR of over 2% during 2020-2024.

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Key Highlights of the Beeswax Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the growth of the beeswax market during the next five years
  • Precise estimation of the global beeswax market size and its contribution to the parent market
  • Beeswax market facts & figures and accurate predictions on upcoming trends and changes in consumer behavior
  • Estimation of potential opportunity for beeswax market by product and geographic segments
  • Identification of key countries across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of beeswax vendors  

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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