According to the recent study the beeswax marketis projected to grow at a CAGR of 3%-4% from 2020 to 2025. Growth in this market is primarily driven byincreasing demand from the cosmetics industry, rising trend for natural products, and growing awareness about the benefits of beeswax.
Browse XX figures / charts and XXtables in this 150 -page report to understand trends, opportunities and forecast in beeswaxmarketby application (cosmetics, pharmaceuticals, food, industrial, and others), nature (conventional and organic), product type (white beeswax, yellow beeswax, and absolute beeswax), and region (North America, Europe, Asia Pacific, and Rest of the World).
“Conventional market is expected to remain the largest segment during the forecast period.”
Based on nature, the beeswaxmarket is segmented intoconventional and organic. Lucintel forecasts that the conventional is expected to witness the largest segment over the forecast period due to its lower price and various health benefits.
“Within the beeswaxmarket, the cosmetics segment is expected to remain the largest application”
Based on application, the cosmetics segment is expected to witness the largest application over the forecast period due to its high use in various cosmetics and personal care products.
“Asia Pacificwill dominate the beeswaxmarket in near future”
Asia Pacificis expected to be the largest region over the forecast perioddue to increasing consumption of certain diseases, high disposable income, and growing consciousness among consumers regarding their personal appearance.