Beeswax Market in the United Kingdom
Market Overview
The UK beeswax market reduced rapidly 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). Overall, consumption, however, recorded a perceptible increase. Beeswax consumption peaked at $ in 2016; however, from 2017 to , consumption remained at a lower figure.
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). Overall, consumption, however, recorded a perceptible increase. Beeswax consumption peaked at $ in 2016; however, from 2017 to , consumption remained at a lower figure.Consumption
In , approx. tons of beeswax were consumed in the UK; which is down by -% on figures. In general, consumption, however, posted a notable increase. Over the period under review, consumption attained the peak volume at tons in 2016; however, from 2017 to , consumption remained at a lower figure.
The value of the beeswax market in the UK declined significantly to $ in , shrinking 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). Overall, consumption, however, continues to indicate tangible growth. Beeswax consumption peaked at $ in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.
, approx. tons of beeswax were consumed in the UK; which is down by -% on figures. In general, consumption, however, posted a notable increase. Over the period under review, consumption attained the peak volume at tons in 2016; however, from 2017 to , consumption remained at a lower figure.The value of the beeswax market in the UK declined significantly to $
in , shrinking 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). Overall, consumption, however, continues to indicate tangible growth. Beeswax consumption peaked at $ in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.Market Forecast
Driven by increasing demand for beeswax in the UK, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, 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
Beeswax market in the UK consists almost entirely of imported products.
Trade Balance
The UK 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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