Beeswax Market in Belgium
Market Overview
The Belgian beeswax market amounted to $
in , stabilizing 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, however, showed a slight increase. Beeswax consumption peaked at $ in 2014; however, from 2015 to , consumption failed to regain momentum.
In value terms, beeswax production rose rapidly to $ in estimated in export price. In general, production continues to indicate pronounced growth. The pace of growth appeared the most rapid in with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2012; however, from 2013 to , production failed to regain momentum.
in , stabilizing 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, however, showed a slight increase. Beeswax consumption peaked at $ in 2014; however, from 2015 to , consumption failed to regain momentum.In value terms, beeswax production rose rapidly to $
in estimated in export price. In general, production continues to indicate pronounced growth. The pace of growth appeared the most rapid in with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2012; however, from 2013 to , production failed to regain momentum.Consumption
After three years of growth, consumption of beeswax decreased by -% to tons in . Over the period under review, consumption recorded a slight setback. Beeswax consumption peaked at tons in 2014; however, from 2015 to , consumption failed to regain momentum.
The value of the beeswax market in Belgium was estimated at $ in , approximately reflecting 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, however, continues to indicate a mild expansion. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to , consumption failed to regain momentum.
% to tons in . Over the period under review, consumption recorded a slight setback. Beeswax consumption peaked at tons in 2014; however, from 2015 to , consumption failed to regain momentum.The value of the beeswax market in Belgium was estimated at $
in , approximately reflecting 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, however, continues to indicate a mild expansion. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to , consumption failed to regain momentum.Market Forecast
Depressed by shrinking demand for beeswax in Belgium, 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 Belgium 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 remained relatively constant over the period under review.
, 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
Belgium remains a net exporter of beeswax; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
. In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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