Beeswax Market by Product and Geography - Forecast and Analysis 2020-2024
Global Beeswax Market: About this market
Technavio’s beeswax market analysis considers sales from both conventional beeswax and organic beeswax. Our report also provides a detailed analysis of the market in APAC, Europe, MEA, North America, and South America. In 2019, the conventional beeswax segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the low price and health benefits will play a vital role in influencing the conventional beeswax segment’s market position. Also, our global beeswax market report looks at factors such as the growing awareness about the benefits of beeswax, expansion of organized retailing, and restoration of natural bee habitats. However, the declining number of honeybee colonies, availability of substitutes, and the increasing popularity of DIY beeswax-based products may hamper the growth of the beeswax industry over the forecast period.
Global Beeswax Market: Overview
Growing awareness about the benefits of beeswax
Beeswax helps in eliminating airborne pollutants when burnt, soothes and hydrates skin, promotes healthy hair growth, and protects foods from the effect of acids, which makes it ideal for use in various applications. With the growing awareness about these benefits, market vendors are offering beeswax in different sizes and particles for industry-specific applications. Thus, the growing awareness will lead to the expansion of the global beeswax market at a CAGR of over 2% during the forecast period.
Increasing popularity of beeswax product kits
The growing demand for assorted cosmetic kits among consumers encourages vendors to manufacture beeswax-based body lotions and lipsticks. For instance, the cosmetic kit offered by The Naked Bee includes a hand and body lotion made from lavender and absolute beeswax. Additionally, there are numerous product kits available on e-commerce platforms with various combinations of beeswax products such as multi-color candles, candle sheets, and food wrappers. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global beeswax market during the forecast period 2020-2024, click here.
With the presence of several major players, the global beeswax market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading beeswax product manufacturers, that include Akrochem Corp., Beeswax Co. LLC, Frank B. Ross Co. Inc., Kahl GmbH & Co. KG, Koster Keunen, New Zealand Beeswax Ltd., Norevo GmbH, Paramold Manufacturing LLC, Poth Hille & Co Ltd., and Strahl & Pitsch Inc.
Also, the beeswax market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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