Nigeria - Beeswax - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBeeswax Price in Nigeria - 2022
Contents:
- Beeswax Price in Nigeria (CIF) - 2022
- Beeswax Price in Nigeria (FOB) - 2021
- Beeswax Imports in Nigeria
- Beeswax Exports in Nigeria
Beeswax Price in Nigeria (CIF) - 2022
The average beeswax import price stood at $5,968 per ton in 2022, approximately mirroring the previous year. Over the period under review, the import price saw a perceptible expansion. The growth pace was the most rapid in 2016 when the average import price increased by 121%. Over the period under review, average import prices reached the peak figure at $10,501 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($11,688 per ton), while the price for China ($3,644 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+111.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Beeswax Price in Nigeria (FOB) - 2021
In August 2021, the average beeswax export price amounted to $3,439 per ton, therefore, remained relatively stable against the previous month. Over the period under review, the export price showed a perceptible curtailment. As a result, the export price reached the peak level of $4,026 per ton. From April 2021 to August 2021, the the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From March 2021 to August 2021, the rate of growth in terms of prices for the United States amounted to -3.1% per month.
Beeswax Imports in Nigeria
In 2022, supplies from abroad of beeswax was finally on the rise to reach 53 tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a precipitous setback.
In value terms, beeswax imports soared to $317K in 2022. In general, imports, however, faced a dramatic descent.
Import of Beeswax in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 367 | 158 | 19.8 | 160 | -24.2% |
Thailand | 372 | 160 | 45.6 | 94.4 | -36.7% |
Malaysia | 154 | 80.4 | 22.2 | 41.6 | -35.4% |
Turkey | 26.6 | 41.8 | 8.6 | 10.2 | -27.3% |
India | 208 | 69.9 | 8.1 | 6.4 | -68.7% |
Others | 52.9 | 18.0 | 1.1 | 4.2 | -57.0% |
Total | 1,181 | 528 | 105 | 317 | -35.5% |
Top Suppliers of Beeswax to Nigeria in 2022:
- Indonesia (28.6 tons)
- Thailand (15.4 tons)
- Malaysia (7.4 tons)
- Turkey (0.9 tons)
- India (0.4 tons)
Beeswax Exports in Nigeria
After three years of growth, overseas shipments of beeswax decreased by -12.9% to 138 tons in 2022. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 624%.
In value terms, beeswax exports shrank to $759K in 2022. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 509%.
Export of Beeswax in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Togo | N/A | 439 | 519 | 450 | 1.2% |
United Kingdom | 67.4 | 183 | 190 | 187 | 40.5% |
United States | 42.4 | 47.5 | 139 | 121 | 41.8% |
Others | 0.2 | 0.2 | 0.7 | 0.6 | 44.2% |
Total | 110 | 669 | 848 | 759 | 90.4% |
Top Export Markets for Beeswax from Nigeria in 2022:
- Togo (85.7 tons)
- United States (33.7 tons)
- United Kingdom (18.0 tons)
This report provides an in-depth analysis of the beeswax market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 1183 - Beeswax
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Producing Animals Slaughtered, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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Global beeswax consumption amounted to X thousand tons in 2015, remaining stable against the previous year level.
In 2015, the country with the largest volume of the beeswax output was India (X thousand tons), accounting for X% of global production.
China dominates in the global beeswax trade. In 2014, China exported X thousand tons of beeswax totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of its total beeswax exports in value
Brazil was the largest exporter of vegetable waxes in the world, with the volume of exports accounting for 14K tons, which was near 45% of total exports in 2018.
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The maize oil market reached X million USD, rising with an annual increase of X%.
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