Middle East: Beeswax Market 2024

Beeswax Market Size in the Middle East

In 2022, the Middle Eastern beeswax market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a noticeable decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Beeswax Production in the Middle East

In value terms, beeswax production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Turkey (X tons) constituted the country with the largest volume of beeswax production, comprising approx. X% of total volume. Moreover, beeswax production in Turkey exceeded the figures recorded by the second-largest producer, Syrian Arab Republic (X tons), more than tenfold.

In Turkey, beeswax production remained relatively stable over the period from 2012-2022.

Beeswax Exports

Exports in the Middle East

In 2022, after two years of growth, there was significant decline in shipments abroad of beeswax, when their volume decreased by X% to X tons. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, beeswax exports rose modestly to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which reached X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with an X% share, followed by Iran (X%) and Jordan (X%). Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to beeswax exports from Turkey stood at X%. At the same time, Jordan (X%), Lebanon (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Turkey, the United Arab Emirates, Iran, Jordan and Lebanon increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) emerged as the largest beeswax supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Jordan, with a X% share.

In Turkey, beeswax exports increased 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: the United Arab Emirates (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Export price indicated measured 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 decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 Jordan ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Beeswax Imports

Imports in the Middle East

In 2022, the amount of beeswax imported in the Middle East fell notably to X tons, reducing by X% compared with the previous year's figure. Overall, imports faced a drastic downturn. The growth pace was the most rapid in 2014 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, beeswax imports shrank to $X in 2022. Over the period under review, imports recorded a perceptible descent. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the eight major importers of beeswax, namely Turkey, Syrian Arab Republic, Iraq, Oman, Iran, the United Arab Emirates, Israel and Lebanon, represented more than two-thirds of total import.

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

In value terms, the largest beeswax importing markets in the Middle East were Turkey ($X), Oman ($X) and Iran ($X), together accounting for X% of total imports.

In terms of the main importing countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a resilient expansion 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 import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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