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.
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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