Category Intelligence on Beewax covers the following
Buyer Insights: Industry can consider China as an ideal region for sustainable sourcing of Beeswax in case of local (Brazil) supply shortage, as it is reported to offer competitive prices.
Category Takeaway: Asia-Pacific is the dominant region accounting for about 52.4% of global beeswax production share. India and China are likely to show sustained production growth in the future.
Buyer Insights: Besides China, the industry can consider Argentina as the most ideal LATAM region for sourcing beeswax, in case of shortage in Brazil.
Category Takeaway: LATAM is the largest region next to Asia-Pacific for global beeswax production. Beekeeping is growing in regions, like Argentina and Brazil, which could allow for future growth of beeswax production.
Estimated Global Market Share of LATAM Beeswax Producers ~ 8578 MT (2016)
Buyer Insights: Industry mainly faces end-use competition from pharmaceutical and cosmetic companies while sourcing beeswax.
Category Takeaway: The low cost of producing beeswax can increase demand, but the challenge faced by market growth is high market price as compared to synthetic waxes.
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