Selbyville, Delaware, Global Beeswax Market size to reach USD 69.69 million by 2027 and is valued approximately USD 60.67 million in 2020 and is anticipated to grow with a healthy growth rate of more than 2% over the forecast period 2021-2027.
Beeswax is a natural wax produced by honeybee workers. This substance is used by bees to build or construct hexagonal compartments in the shape of a beehive for storing honey. Long-chained alcohols and fatty acid esters make up beeswax. Beeswax is utilized in a variety of cosmetics and beauty items.
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Beeswax is utilized in a variety of products, including cleaning agents, lubricants, and culinary flavours has led the adoption of beeswax across the forecast period. Rising demand for cosmetic items is being fueled by a younger customer base that is increasingly concerned with personal appearance and beauty. Consumers are becoming more aware of its medicinal and therapeutic qualities. As per the report of Global Wellness Institute, in 2018, the personal care, beauty and anti-aging industry accounted to $1083 billion in 2018. According to the CBI, Ministry of Foreign Affair Europe, the European natural cosmetics market was valued at 3.6 billion in 2018. However, when used in excessive, various adverse effects on health might occur and high cost of raw materials hampers the growth of the market over the forecast period of 2021-2027. Also, expanding research and development of organic cosmetic goods and growth of the end-use industries is expected to fuel is likely to increase the market growth during the forecast period.
Major market player included in this report are:
- Arjun Beeswax Industries
- The British Wax Refining Company Ltd
- Koster Keunen
- Kantilal Brothers
- Sovereign Chemicals and Cosmetics
- Dabur India ltd.
- Seidler Chemical Co.
- Frank B Ross Co
- Jedwards International Inc.
The geographical analysis of global beeswax market is considered for the main regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share attributing to increasing awareness of the personal care and increasing demand for organic products. Whereas, Asia-Pacific is also expected to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising disposable income, changing lifestyle and growing trends for skin care would create lucrative growth prospects for the beeswax market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product Type:
- Yellow Beeswax
- White Beeswax
- Absolute Beeswax
Global Beeswax Market: regional analysis
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Beeswax market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.
Furthermore, years considered for the study are as follows:
- Historical year – 2018, 2019
- Base year – 2020
- Forecast period – 2021 to 2027.
Some of the major questions addressed in the report are:
- What are the crucial factors driving the market?
- What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
- What was the market size value of the Beeswax in 2020?
- What shall be the Beeswax Market size by 2027?
- Which region shall account for the largest market share of the Beeswax Industry?
- What are the market threats and opportunities considered by the vendors in the Beeswax Market?
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