Beeswax Market Analysis, Competitive Strategies and Forecasts to 2022

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Global beeswax market is expected to grow over the forecast period owing to its increasing demand in cosmetic, pharmaceutical and food industry. Growing demand for cosmetics including lip balms, moisturizers, moustache waxes, hair pomades, eye liners and eye shadows on account of rising consumer awareness regarding their appearance is expected to be one of the primary drivers for beeswax over the forecast period.

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Beeswax is also extensively used in the food industry as a glazing agent or coating for preparation of cheese, processed fruits, chewing gums and food additives. It is also used in making candles for religious proceedings, decorative purposes, show-pieces, and household purposes. It forms an important ingredient for manufacturing furniture polish and shoe polish. Pharmaceutical industry employs beeswax as an ingredient in surgical bone wax which is used to control bleeding from the bone surface during surgery. Thus, demand for beeswax is likely to remain high over the forecast period. Moreover, growth of these end-use industries is expected to fuel beeswax industry expansion over the next seven years.

Asia-Pacific, North America and Europe are expected to be the largest markets for beeswax over the projected period owing to the rapid development in the pharmaceutical industry of these regions. Major producing countries of beeswax include Ethiopia, India, Argentina, Republic of Korea and Turkey with key market players being Frank B Ross Co, Bulk Apothecary, City Chemical LLC, Roger A Reed Inc., TMC Industries, Alfa Chemical Corp, Hase Petroleum Wax Co., Dabur India Ltd., Jedwards International Inc., Pacific Coast Chemicals and Thomas Apiculture SAS.

Beeswax is available in two colors including white and yellow. Natural yellow beeswax is popularly used in making candles whereas white beeswax is used for as a vital ingredient in lip balms, lip glosses and other personal care products.

Beeswax available in pearl or granules form is the most popular one due to their natural color, purity and aroma of honey which is filtered and preserved soon after its extraction from honeycombs. Workability of the wax is enhanced when present in the granular form owing to its high melting point. Recent studies have shown that burning beeswax candles purifies the air as it release negative ions which helps in removing impurities from air. The natural aroma of honey present in beeswax is helps in reducing the occurrences of attacks in asthmatic patients.

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