Beeswax
Market Introduction:
Beeswax
is a wax obtained by melting the walls of honeycomb made the honey
bee. Variety of beeswax is available, ranging from crude yellow
beeswax to white beeswax which is made by bleaching yellow beeswax.
Beeswax has a number of applications including glazing agent which is
used in food, specifically bakery and confectionaries. Beeswax is
also used as a release agent, texturizer for chewing gum base,
stabilizer, and carrier for food additives and as a clouding agent.
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Apart
from the use in food industry, beeswax is also used industries such
as cosmetics, pharmaceuticals and other industries including candles
and polishes. Waxes are one of the most extensively used product
groups in various industries and are employed in a wide range of
cosmetic products. Cosmetics producers globally, are interested in
new as well as established waxes which has created a global surge in
demand for the same. The use of beeswax is also use in certain
cosmetic products such as lip balms, salves, lip gloss, moisturizers,
and hand creams. The high usage of this product has indicated a high
demand from end product manufacturers and the growth in demand
remains strong following the global health and beauty trend and a
heightened focus on cosmetics.
Beeswax
Market Segmentation:
The
global beeswax market is segmented on the basis of its application,
product type, nature and region. Based on its application, the global
beeswax market is segmented into three main segments; food, cosmetics
and industrial. Beeswax has wide applications as a cosmetic, it is
mostly used in moustache wax, eye liners and hair pomades etc. In
food, beeswax is further sub segmented as Confectionary, Bakery, Nuts
& Snacks and Fruits.
The
product type segment of beeswax includes; yellow beeswax, white
beeswax and absolute beeswax. The absolute beeswax is made by
reacting ethanol with yellow beeswax and the white beeswax is a
bleached form of yellow beeswax.
On
the basis of nature, beeswax
market is segmented as organic and conventional, organic products
have a relatively low share compared to its conventional
counterparts, but the organic trends have widely picked up and has
been on an exponential growth and is estimated to gain a relatively
high growth rate.
Beeswax
Market Regional Outlook:
India,
Ethiopia, Argentina, Turkey, South Korea, Mexico and Brazil are some
of the key manufacturers of beeswax. The consumption in these
countries is also high. The organic certified beeswax has been
produced on a larger scale as well, this is mainly due to high demand
from importing countries. Some of the key importing countries such as
the U.S., Germany, France and Japan have a high significant demand
for both organic and conventional beeswax.
The
Asia Pacific region is itself a high consuming region and most of the
consumption can be related to the high demand from cosmetic industry.
The cosmetics is a booming industry in this region and the demand is
estimated to remain strong during the forecast period.
Some
of the top exporting countries such as Malaysia and China have
witnessed a strong surge in demand from the North American region as
well which is attributed to the significantly high demand for beauty
cosmetics.
Beeswax
Market Drivers and Trends:
In
the European region health conscious trend has been widely
popularized and the consumers are looking for healthy and natural
alternatives. This trend has affected the market for glazing agents
as well and influenced a high demand for natural waxes including
beeswax. This has led to addition of beeswax in baked good as well as
confectionaries.
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.
Beeswax
Market Key Players:
Some
of the key players participating in the global beeswax market
includes; Sovereign Chemicals & Cosmetics, Arjun Beeswax
Industries, Koster Keunen, Kantilal Brothers, The British Wax
Refining Company Ltd, Kahl Wax among others
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