Updated Oct 6, 2022 17:50

Vegetable Waxes Market in Romania

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
The Romanian vegetable waxes market reduced notably to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a abrupt setback. As a result, consumption reached the peak level of $. From 2017 to , the growth of the market remained at a somewhat lower figure.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
For the fourth consecutive year, Romania recorded decline in consumption of vegetable waxes, which decreased by -% to tons in . In general, consumption saw a abrupt shrinkage. As a result, consumption reached the peak volume of tons. From 2017 to , the growth of the consumption failed to regain momentum.

The size of the vegetable waxes market in Romania declined slightly to $ in , leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a deep slump. As a result, consumption reached the peak level of $. From 2017 to , the growth of the market remained at a lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Depressed by shrinking demand for vegetable waxes in Romania, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
Vegetable waxes market in Romania consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Romania remains a net importer of vegetable waxes; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.