Beeswax Market Introduction:
Beeswax is a wax obtained by melting the walls of honeycomb made the honey bee. Variety of beeswax is available, ranging from crude yellow beeswax to white beeswax which is made by bleaching yellow beeswax. Beeswax has a number of applications including glazing agent which is used in food, specifically bakery and confectionaries. Beeswax is also used as a release agent, texturizer for chewing gum base, stabilizer, and carrier for food additives and as a clouding agent.
Apart from the use in food industry, beeswax is also used industries such as cosmetics, pharmaceuticals and other industries including candles and polishes. Waxes are one of the most extensively used product groups in various industries and are employed in a wide range of cosmetic products. Cosmetics producers globally, are interested in new as well as established waxes which has created a global surge in demand for the same. The use of beeswax is also use in certain cosmetic products such as lip balms, salves, lip gloss, moisturizers, and hand creams. The high usage of this product has indicated a high demand from end product manufacturers and the growth in demand remains strong following the global health and beauty trend and a heightened focus on cosmetics.
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Beeswax Market Segmentation:
The global beeswax market is segmented on the basis of its application, product type, nature and region. Based on its application, the global beeswax market is segmented into three main segments; food, cosmetics and industrial. Beeswax has wide applications as a cosmetic, it is mostly used in moustache wax, eye liners and hair pomades etc. In food, beeswax is further sub segmented as Confectionary, Bakery, Nuts & Snacks and Fruits.
The product type segment of beeswax includes; yellow beeswax, white beeswax and absolute beeswax. The absolute beeswax is made by reacting ethanol with yellow beeswax and the white beeswax is a bleached form of yellow beeswax.
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On the basis of nature, beeswax market is segmented as organic and conventional, organic products have a relatively low share compared to its conventional counterparts, but the organic trends have widely picked up and has been on an exponential growth and is estimated to gain a relatively high growth rate.