Eastern Europe: Beeswax Market 2024

Beeswax Market Size in Eastern Europe

In 2022, after two years of growth, there was decline in the East European beeswax market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then declined in the following year.

Beeswax Production in Eastern Europe

In value terms, beeswax production expanded remarkably to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Ukraine (X tons) remains the largest beeswax producing country in Eastern Europe, comprising approx. X% of total volume. Moreover, beeswax production in Ukraine exceeded the figures recorded by the second-largest producer, Bulgaria (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Ukraine amounted to X%. In the other countries, the average annual rates were as follows: Bulgaria (X% per year) and the Czech Republic (X% per year).

Beeswax Exports

Exports in Eastern Europe

In 2022, approx. X tons of beeswax were exported in Eastern Europe; dropping by X% on 2021 figures. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports reduced notably to $X in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Ukraine (X tons) and the Czech Republic (X tons) represented the main exporters of beeswax in 2022, finishing at near X% and X% of total exports, respectively. It was distantly followed by Russia (X tons), Poland (X tons) and Bulgaria (X tons), together making up a X% share of total exports. Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest beeswax supplying countries in Eastern Europe were the Czech Republic ($X), Ukraine ($X) and Poland ($X), with a combined X% share of total exports.

The Czech Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, waning by X% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beeswax export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced mixed trends in the export price figures.

Beeswax Imports

Imports in Eastern Europe

After two years of growth, supplies from abroad of beeswax decreased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021, and then contracted slightly in the following year.

In value terms, beeswax imports shrank to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of X%. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Poland prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. The Czech Republic (X tons) ranks second in terms of the total imports with a X% share, followed by Romania (X%), Lithuania (X%) and Bulgaria (X%). The following importers - Slovakia (X tons) and Russia (X tons) - each accounted for an X% share of total imports.

Imports into Poland increased at an average annual rate of X% from 2012 to 2022. At the same time, Lithuania (X%), Bulgaria (X%), the Czech Republic (X%), Slovakia (X%) and Romania (X%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Russia (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Lithuania (X p.p.), Bulgaria (X p.p.) and the Czech Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Romania (X p.p.) and Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported beeswax in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Poland totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Romania (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Slovakia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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