Beeswax Market in Greece
Market Overview
In 
, the Greek beeswax market increased by % to $, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a pronounced curtailment. Beeswax consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.
In value terms, beeswax production contracted modestly to $ in estimated in export price. Over the period under review, production, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by % against the previous year. Over the period under review, production reached the peak level at $ in 2008; however, from 2009 to , production remained at a lower figure.
, the Greek beeswax market increased by % to $, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a pronounced curtailment. Beeswax consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.In value terms, beeswax production contracted modestly to $
in estimated in export price. Over the period under review, production, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by % against the previous year. Over the period under review, production reached the peak level at $ in 2008; however, from 2009 to , production remained at a lower figure.Consumption
In , consumption of beeswax increased by % to tons, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a drastic downturn. Over the period under review, consumption reached the maximum volume at tons in 2007; however, from 2008 to , consumption remained at a lower figure.
The value of the beeswax market in Greece was estimated at $ in , rising 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). In general, consumption, however, saw a noticeable shrinkage. Beeswax consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.
, consumption of beeswax increased by % to tons, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a drastic downturn. Over the period under review, consumption reached the maximum volume at tons in 2007; however, from 2008 to , consumption remained at a lower figure.The value of the beeswax market in Greece was estimated at $
in , rising 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). In general, consumption, however, saw a noticeable shrinkage. Beeswax consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for beeswax in Greece, 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 .
% 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
Beeswax market in Greece remained dependent on supplies from foreign countries. In , the share of imports in total consumption was % in value terms and % in physical terms. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.
, the share of imports in total consumption was % in value terms and % in physical terms. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review.Trade Balance
Greece remains a net importer of beeswax; 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.
. 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.
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