Beeswax Market in Spain
Market Overview
The Spanish beeswax market rose to $
in , growing 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, the total consumption indicated pronounced growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Beeswax consumption peaked at $ in 2015; however, from 2016 to , consumption failed to regain momentum.
In value terms, beeswax production stood at $ in estimated in export price. In general, the total production indicated modest growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2016; however, from 2017 to , production failed to regain momentum.
in , growing 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, the total consumption indicated pronounced growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Beeswax consumption peaked at $ in 2015; however, from 2016 to , consumption failed to regain momentum.In value terms, beeswax production stood at $
in estimated in export price. In general, the total production indicated modest growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by %. Over the period under review, production reached the maximum level at $ in 2016; however, from 2017 to , production failed to regain momentum.Consumption
In , consumption of beeswax increased by % to tons, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Beeswax consumption peaked at tons in 2015; however, from 2016 to , consumption failed to regain momentum.
The value of the beeswax market in Spain reached $ in , growing 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, the total consumption indicated a pronounced expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.
, consumption of beeswax increased by % to tons, rising for the second year in a row after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Beeswax consumption peaked at tons in 2015; however, from 2016 to , consumption failed to regain momentum.The value of the beeswax market in Spain reached $
in , growing 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, the total consumption indicated a pronounced expansion from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, the market hit record highs at $ in 2015; however, from 2016 to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for beeswax in Spain, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase 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 bring the market volume to tons by the end of .In value terms, the market is forecast to increase 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
Driven by a growing demand, the share of imports in total supply in Spain increased significantly over the last fifteen-year period (from % to %).
% to %).Trade Balance
Spain 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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