Latin America and the Caribbean: Beeswax Market 2024

Beeswax Market Size in Latin America and the Caribbean

The Latin American beeswax market shrank to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Beeswax Production in Latin America and the Caribbean

In value terms, beeswax production contracted to $X in 2022 estimated in export price. The total production indicated a noticeable 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Argentina (X tons) remains the largest beeswax producing country in Latin America and the Caribbean, accounting for X% of total volume. Moreover, beeswax production in Argentina exceeded the figures recorded by the second-largest producer, Brazil (X tons), threefold. Mexico (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Argentina was relatively modest. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Mexico (X% per year).

Beeswax Exports

Exports in Latin America and the Caribbean

In 2022, the amount of beeswax exported in Latin America and the Caribbean contracted notably to X tons, with a decrease of X% compared with the year before. Over the period under review, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, beeswax exports fell rapidly to $X in 2022. The total export value 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 throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

In 2022, Argentina (X tons) represented the major exporter of beeswax, making up X% of total exports. It was distantly followed by Brazil (X tons), creating an X% share of total exports. Uruguay (X tons) and Chile (X tons) took a little share of total exports.

Exports from Argentina decreased at an average annual rate of X% from 2012 to 2022. At the same time, Uruguay (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Chile (X%) illustrated a downward trend over the same period. Argentina (X p.p.), Brazil (X p.p.) and Uruguay (X p.p.) significantly strengthened its position in terms of the total exports, while Chile saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Brazil ($X) remains the largest beeswax supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports. It was followed by Uruguay, with a X% share.

In Brazil, beeswax exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by X% against the previous year. In general, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports in Latin America and the Caribbean

In 2022, the amount of beeswax imported in Latin America and the Caribbean shrank markedly to X tons, dropping by X% on 2021. In general, imports saw a noticeable setback. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, beeswax imports dropped dramatically to $X in 2022. Over the period under review, imports showed a deep setback. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X tons), distantly followed by Mexico (X tons), Ecuador (X tons), Panama (X tons), Trinidad and Tobago (X tons), El Salvador (X tons), Peru (X tons) and Brazil (X tons) represented the key importers of beeswax, together generating X% of total imports. The following importers - Honduras (X tons), Belize (X tons), Guatemala (X tons), Guyana (X tons) and Chile (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Peru (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported beeswax in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Colombia ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Brazil (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Mexico ($X per ton), while Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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