Beeswax Market Is Expected To Reach USD 1,207.3 Million By 2032.
The global beeswax market size was USD 789.2 Million in 2022 and is expected to reach USD 1,207.3 Million by 2032, and register a rapid revenue CAGR of 4.2% during the forecast period. Rising demand for natural and organic components across a number of industries, including Cosmetics, Food & Beverage (F&B), and pharmaceuticals, and natural and organic goods in the cosmetics sector is a major factor driving market revenue growth.
Several cosmetics and personal care items, such as lip balms, moisturizers, and hair care items, employ beeswax as a natural emulsifier and thickening. Beeswax is a perfect element in natural skincare products because of their hydrating and healing capabilities. In addition, rising demand for sustainable and eco-friendly goods and increasing awareness about negative impacts of synthetic compounds in cosmetics are expected to drive revenue growth of the market.
The growing awareness for beeswax in its natural and moreover organic form and its intense application in skincare products is the rising drift in the personal care industry like in lip care, treating eczema, acne, dry skin, and in reducing stretch marks. The natural cosmetics segment has been witnessing high growth in demand, and most of the ingredients catering to this demand are organic in nature, organic beeswax is an important indigent for this segment and has been popular in the regions of North America, following the all-natural health trend.
The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly adopting safe strategy and techniques which are supposed to increase the demand for Beeswax, preferably as the market starts stabilizing. The significant effect is the constraints in logistics, as it is seen that the results are both bullish and bearish. The impact of COVID-19 is variable, depending upon the participants of the market and the locations. While looking at the supply side, most of the Indian domestic producers of Beeswax have reopened their plants post lockdown. In logistics, many countries are loosening the import-export policies post lockdown to resume to recover the loss due to this pandemic. But as the exception exists, in southeast Asia due to extension in the restrictions to prevent coronavirus outbreak, the demand for raw materials is increasing.
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Further key findings from the report suggest
- Direct sales mean to direct selling of Beeswax as an additive to other industries. Beeswax is broadly used as a waterproofing agent for wood and leather, and for strengthening threads; it is used in rural industries such as candle-making and as an additive in ointments, medicines, soaps, and polishes. Beeswax is in substantial demand in the world market.
- Beeswax works as an excellent additive to cosmetics, for several reasons. When used in lotions and creams, beeswax produces a blockage that helps to seal moisture into the skin. This blockage also helps to prevent the skin from environmental toxins and irritants.
- Asia, North America, and Europe are expected to be the largest markets for Beeswax over the projected period due to the rapid development in pharmaceutical and wide use in the cosmetic industry.
- Key participants include Dabur India Ltd., Seidler Chemicals Co., Bulk Apothecary, Pacific Coast Chemicals, Jedwards International Inc., Frank B Ross Co., Hase Petroleum Wax Co., TMC Industries, Shandong Bokang Apiculture Co. Ltd., Aroma Naturals.
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For this report, Reports and Data have segmented into the global Beeswax Market based on distribution channel, end-use, colour, application, and region:
Distribution Channel Outlook (Revenue, USD Million; 2017-2032)
- Direct Sale
- Retail Sale
- Hypermarket / Supermarket
- Grocery stores
- Online retailers
- Others
Application Outlook (Revenue, USD Million; 2017-2032)
- Cosmetic & Personal Care
- Pharmaceutical
- Sculptures and Consumer Goods
- Food and Confectionary
Colour Outlook (Revenue, USD Million; 2017-2032)
- White Beeswax
- Yellow Beeswax
End-Use Outlook (Revenue, USD Million; 2017-2032)
- Commercial
- Processed Fruits
- Chewing Gums
- Food Additives
- Household
Regional Outlook (Revenue, USD Million; 2017-2032)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arab
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of MEA
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