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Beeswax Market Trends

Report ID: GMI7142
Published Date: Oct 2023
Report Format: PDF

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Beeswax Market Trends

There is a growing emphasis on sustainability and eco-conscious consumer choices, driving the demand for natural and renewable beeswax in various industries. In cosmetics and personal care, beeswax is a sought-after ingredient for its natural, skin-friendly properties and its role in clean-label products. Additionally, the increased awareness of the potential health benefits of beeswax and propolis has spurred its adoption in the pharmaceutical and healthcare sectors. Innovations in beeswax-based products, including beeswax wraps as an eco-friendly alternative to plastic, showcase its versatility and adaptability to evolving consumer needs. Furthermore, the ethical and responsible sourcing of beeswax has become a critical trend, with consumers and businesses focusing on sustainability and the well-being of bee populations, aiming to ensure a stable and eco-friendly supply of beeswax.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

Beeswax market size was USD 572.3 million in 2023 and will reach USD 954.7 million by 2032 due to the rising demand for natural and eco-friendly products in various industries, such as cosmetics, food, and pharmaceuticals worldwide.

Organic beeswax industry registered USD 496.3 million in 2022 and is expected to witness appreciable CAGR from 2023-2032 on account of the increasing consumer preference towards natural, organic, and sustainable products.

Asia Pacific beeswax industry recorded USD 471.4 million in 2022 and is expected to register commendable CAGR from 2023-2032 owing to the rising disposable incomes and consumer expenditure on non-essential items in the region.

Koster Keunen, British Wax Refining Company, Strahl and Pitsch, and New Zealand Beeswax Ltd., are some of the major beeswax companies worldwide.