Bulgaria: Beeswax Market 2024

Beeswax Market Size in Bulgaria

The Bulgarian beeswax market surged to $X in 2022, rising by X% against the previous year. Overall, the total consumption indicated prominent 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, consumption increased by X% against 2020 indices. Beeswax consumption peaked in 2022 and is expected to retain growth in the near future.

Beeswax Production in Bulgaria

In value terms, beeswax production expanded to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Beeswax Exports

Exports from Bulgaria

In 2022, the amount of beeswax exported from Bulgaria shrank significantly to X tons, reducing by X% against 2021. In general, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, beeswax exports declined markedly to $X in 2022. Over the period under review, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons), Croatia (X tons) and Estonia (X tons) were the main destinations of beeswax exports from Bulgaria, together comprising X% of total exports.

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

In value terms, the largest markets for beeswax exported from Bulgaria were Austria ($X), Croatia ($X) and Estonia ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Austria, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average beeswax export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, export price indicated resilient 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 growth pace was the most rapid in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Estonia ($X per ton) and Croatia ($X per ton), while the average price for exports to Romania ($X per ton) and Austria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beeswax Imports

Imports into Bulgaria

In 2022, after five years of decline, there was significant growth in purchases abroad of beeswax, when their volume increased by X% to X tons. In general, imports continue to indicate significant growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, beeswax imports soared to $X in 2022. Over the period under review, imports showed a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of beeswax to Bulgaria, accounting for a X% share of total imports. Moreover, beeswax imports from Turkey exceeded the figures recorded by the second-largest supplier, Greece (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Germany (X% per year).

In value terms, Germany ($X), Turkey ($X) and Greece ($X) appeared to be the largest beeswax suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, Germany, 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 average beeswax import price amounted to $X per ton, increasing by X% against the previous year. In general, import price indicated a temperate increase 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 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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