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Beeswax Market Size

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

Beeswax Market Size

Beeswax Market size was valued at around USD 572.3 million in 2023 and is estimated to reach USD 945.7 million by 2032. The rising demand for natural and eco-friendly products in various industries, such as cosmetics, food, and pharmaceuticals, has propelled the market forward.

 

Beeswax Market

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Beeswax is a renewable and biodegradable resource, making it an attractive ingredient for companies seeking sustainable and environmentally responsible alternatives to synthetic compounds. Beeswax is a versatile ingredient in cosmetics, used in products like lip balms, lotions, and creams. It offers skin-friendly properties, acting as a natural emollient, thickener, and humectant. Consumers are increasingly gravitating toward skincare and beauty products that incorporate natural, chemical-free ingredients, further boosting the demand for beeswax.

 

Bees are critical pollinators, and their health and population directly affect the production of beeswax. Pesticides, habitat loss, and climate change have all contributed to the decline in bee populations. This not only impacts beeswax production but also raises ethical and environmental concerns. Sustainable and responsible sourcing practices are becoming increasingly important in addressing this challenge and mitigating its impact on the market.

 

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.

Beeswax Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 190
  • Countries covered: 21
  • Pages: 220
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