GVR Report cover Beeswax Market Report

Beeswax Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2015 To 2022

  • Report ID: GVR1577
  • Number of Pages: 0
  • Format: Electronic (PDF)

Beeswax is a natural wax produced by honeybees. The wax is formed by worker bees who discard in the hive. The worker bees use it to build hexagonal cells to store honey. Beeswax consists of fatty acid esters and long-chained alcohols.

Applications of beeswax are cleaning agents, food flavoring, lubricants, and others. Burning beeswax produces negative ions which attracts pollutants. Pollutants such as moulds, odor, dust, bacteria, viruses, and other toxins aim to reduce air quality. Thus, beeswax actually succeeds in cleaning up the air and making it more habitable. This attribute can be beneficial to the beeswax market in producing more environmentally-beneficial products. This can garner interest from the European market for an investment.

The beeswax market is poised for growth on account of demand for cosmetic products over the forecast period (2015-2022). Myriad uses of beeswax include polishing materials, assembly of sports equipment, and components of modeling waxes. This is estimated to influence market growth over the forecast period. Low cost of producing beeswax will encourage more investments in the industry. But the high cost of beeswax market price compared to synthetic waxes can hamper market growth in the long run.

Cosmetics and pharmaceuticals are two major applications of the beeswax market. Cosmetics led the market on account of demand from blush, eye shadow, lip gloss, lip balm, and moisturizers. Pharmaceuticals were the second largest application. It was anticipated to be the fastest growing segment owing to coating properties of beeswax. Other applications are metal casting molding, modeling, candle manufacturing, wood & leather finishes, industrial lubricants, and waterproofed textiles. Demand from diverse applications is expected to result in increased market demand until 2022.

Other applications include soap, mustache cream, wax surfboards, furniture polish, and lubricated zippers. It can be used as a glazing agent when used in minimal quantity. It is used to prevent water loss and provide protection to fruits. Its application in skin care includes petroleum jelly, hand creams, lip balm, lip gloss, eye liner, mustache wax, and hair pomades.

Beeswax has been used in making candles. The wax was used to seal letters in the 13th century. Many seals used by major governments were created with beeswax. It is used to control bleeding from bone surfaces. Beeswax mixed with turpentine or linseed oil can act as furniture or shoe polish. It can be used as an adhesive. It is currently used to glue cutlery handles to knives and attach reed plates to a squeezebox.

Furthermore, it is a main component of mustache wax. This helps in styling the mustache according to the man’s personal needs. It prevents bronze items from dust or ruin. Metals like gold and silver are lubricated with beeswax to give it a sleek and eminent shine. It is still used by cheese makers as a glazing agent. This is more preferred than plastic, as plastic ruins the texture and taste.

Beeswax is deemed a natural lubricant for wooden items. Even NASA isn’t oblivious to the benefits of beeswax. It utilizes beeswax in a concoction to mop oil spillage. It is used in making musical instruments such as oboe and guitar. Beeswax doesn’t produce smoke or wax when burned and is an environmentally-beneficial remedy. It only emits an aroma similar to honey and gets enhanced when mixed with herbs or oils.

It also found its use in the confectionery industry by being used as a base for producing candies. They have further used in making crayons by mixing beeswax with soap shavings. Leather can retain its gloss by being rubbed in a mixture of beeswax. It can be used to polish granite counters. It is also used by parachute makers to glue the nylon strings to make it water-repellent. Beeswax is mixed with lead to capture any impurities. This lead is then utilized for making fresh new bullets.

Regions of interest to the beeswax market are North America, Europe, Asia Pacific, and RoW (Rest of the World). India, in Asia Pacific, will gain a major share of the regional market due to demand from the pharmaceutical industry. Developing economies of countries in Asia Pacific due to rising consumption of diseases and highly disposable earnings will impel demand over the next seven years. This can increase the developing rate of countries like India and China. Africa can exhibit minimal growth owing to the rise of manufacturing companies in the region.

Major players of the beeswax market are Dabur India Ltd., Seidler Chemical Co., Bulk Apothecary, Pacific Coast Chemicals, Jedwards International Inc., Frank B Ross Co, City Chemical LLC, TMC Industries, Shandong Bokang Apiculture Co., Ltd., Roger A Reed Inc., Alfa Chemical Corp, Hase Petroleum Wax Co., Aroma Naturals Inc., Chengdu Feng’s Apiculture Co., Ltd, Thomas Apiculture SAS, Luberon Apiculture, Glenn Apiaries, Dutch Gold Honey, and Miller’s Honey Company.

Prominent beeswax producing countries are Republic of Korea, Argentina, Australia, China, India, Turkey, and Ethiopia. Australia’s apiaries are protected from varroa mite, a parasite that infects hives. Capilano Honey, one of Australia’s premium wax-producing companies used to export almost 170 tons of beeswax to the US, Asia, and Europe.

China led the global beeswax market by exporting 11,000 tons in 2014. It earned revenue amounting to USD 60 million in the same year. This is a 19% revenue spike compared to the previous year. Malaysia and Germany, together assumed the second position accounting for 27% beeswax market share in 2014. Germany, Japan, Italy, France, and the US were the leading destinations for global import.    

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