Global Beeswax Market Outlook

IndexBox has just published a new report "World: Beeswax - Market Report. Analysis And Forecast To 2025" ( http://www.indexbox.co.uk/store/world-beeswax-market-report-analysis-and-forecast-to-2020?utm_source=opr ).

Global beeswax production amounted to 67 thousand tonnes in 2015, rising by +0.9% against the previous year level. Overall, the global beeswax output pursued a pronounced growth from 2007 to 2015. The trend pattern was relatively stable, with only minor fluctuations throughout the analyzed period. The total output figures increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2008, when the output figure increased by +5% from the previous year level. Over the period under review, the global beeswax production reached its maximum volume in 2015, and is likely to continue its growth in the immediate term.

Over the analyzed period, an increase in global beeswax production was primarily driven by disposable income growth, production of food, and growth of medical care and personal care products. Furthermore, these key drivers are expected to continue promoting the beeswax output in the immediate term. This general positive trend was largely conditioned by a robust expansion of the harvested area and a noticeable contraction of the yield figures.

The country with the largest volume of the beeswax output in absolute volumes was India (22 thousand tonnes), accounting for 33% of global production. Moreover, beeswax output in India exceeded the figures recorded by the world's second largest producer, Ethiopia (5 thousand tonnes), fourfold. The third position in this ranking was occupied by Argentina with a share of 8%. From 2007 to 2015, an average annual growth rate of India's beeswax producton stood at +1.7%. The remaining producing countries recorded the following average annual growth rates: Ethiopia (+1.9% per year) and Argentina (+1.0% per year).

The world beeswax producing population amounted to 21,452 thousand No in 2015, which was 2.0% more than the previous year figure. The producing population indicated a noticeable increase over the period under review, representing a compound annual growth rate of +3.0% from 2007 to 2015. This trend pattern, however, indicated some mild fluctuations over the recent years. Over the period under review, the total beeswax producing population peaked in 2015, and is likely to continue its expansion in the immediate term, following rising demand for beeswax globally.

The global average beeswax yield amounted to 31 hg in 2015, falling by -1.0% from the previous year figure. The yield figures recorded an downward trend over the period under review, with a compound annual growth rate standing at -1.7% from 2007 to 2015. These yield figures maintained, all in all, a stable trend pattern throughout the analyzed period. The highest beeswax yields were recorded in 2008, when it peaked at 36 hg. Afterwards, it decreased slightly and then fluctuated around these levels throughout the analyzed period.

Source: http://www.indexbox.co.uk/store/world-beeswax-market-report-analysis-and-forecast-to-2020?utm_source=opr

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This release was published on openPR.