Beeswax is a natural wax produces by honeybees. The wax is formed in the hive which is discarded by the bees. Then the worker bees collect and use it to form a hexagonal structure to store cells. Beeswax is produced by all species of honeybees, although the waxes produced by the different species have slightly different chemical and physical properties.
Beeswax is valued according to its purity, quality, and color. Light colored wax is highly valued over dark colored wax because dark-colored wax is likely to be contaminated and overheated. Beeswax has a constitution of fatty acid esters and long-chained alcohols.
Beeswax has long-standing application in food and flavoring and is seen to have growing demand from the cosmetic and pharmaceutical applications globally. Global Beeswax market is expected to grow in the forecasted period owing to increase and varied usage in cosmetic, pharmaceutical and food industry.
Beeswax market can be segmented on the basis of nature, color, end use, end use, application, distribution channel, and region.
On the basis of nature, Beeswax market can be segmented into organic and conventional.
On the basis of color, Beeswax Market can be segmented into white beeswax and yellow beeswax. In the yellow beeswax, the natural color and aromas are preserved whereas in white beeswax purity and natural color is removed while preserving the aromas. Natural yellow beeswax is popular in making candles whereas white beeswax is a vital ingredient in making lip balms, lip glosses and other personal care products.
On the basis of end use, Beeswax market can be segmented into household use and the commercial use as a glazing agent or coating for preparation of cheese, processed fruits, chewing gums and food additives.
On the basis of application, the beeswax market can be segmented into its wide range of use in cosmetics and personal care industry, the pharmaceutical industry, in sculptures and consumer goods, in food and confectionary applications. In confectionary industry, it is used as a base for making candies.
On the basis of the distribution channel, Beeswax market can be segmented into direct and retail sales. Direct sales refer to direct selling of Beeswax as an ingredient to other industries. Retail sales are further segmented into hypermarket/supermarket, grocery stores, online retailers, and other retailing formats.
The key demand of Beeswax includes mainly from the food industry, pharmaceutical, and cosmetic industry. The growing demand from food confectioners & food manufacturers, rising awareness of its therapeutic properties among consumers, the rising disposable income, awareness among consumers in using natural ingredients in their personal care are all expected to grow the market for beeswax in the projected period.
The major restraint is its certain side effects on health, when consumed in large quantities. It can cause intestinal blockage and its allergic reactions especially in people who are allergic to honey and its products.
The growing awareness for beeswax in its natural and moreover organic form and its profound application in skincare products is the rising trend in the personal care industry like in lip care, treating eczema, acne, dry skin and in reducing stretch marks.
Beeswax has many traditional uses. 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 cosmetic industry.
Prominent beeswax producing countries are Republic of Korea, Argentina, Australia, India, Turkey, China, and Ethiopia. In the Asia Pacific, India is the largest market share due to increasing demand in pharmaceutical industry whereas in Europe, it finds a large application in the food industry for glazing in confectionaries and as an ingredient in the baked goods. In EU, the countries like Germany, France, and the UK highly import the beeswax for varied use and application.
Moreover, in UAE and countries like Dubai, it is used for making candles and find its application in polishing home furniture. Also, its wide application in skincare and personal care products it is being strongly demanded due to growing awareness by consumer globally.
Some of the prominent players of Beeswax are Frank B. Ross Co. Inc., Roger A Reed Inc., Bulk Apothecary, Hase Petroleum Wax Co., City Chemical LLC, TMC Industries, Shandong Bokang Apiculture Co., Ltd., Dabur Limited and various other regional manufacturers.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Beeswax Market
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