Vegetable Wax Market

Most Exhaustive Report

Vegetable Wax Market - Global Outlook and Forecast 2020-2025

Vegetable Wax Market

Most Exhaustive Report

Vegetable Wax Market - Global Outlook and Forecast 2020-2025

SKU : ARZ200206 Published on : April 2020 Pages : 275

${{licencetype}}

Get 10% Free Customization
On This Report.
Customize this report Enquire before buying
data center market research

Get actionable insights on how COVID-19 is impacting your business sector.

Enquire now

VEGETABLE WAX MARKET SIZE WILL REACH USD 130 MILLION IN 2020, GROWING AT A CAGR OF AROUND 6%

Global Vegetable Wax Market Research Report by Wax Type (carnauba, candelilla, castor, and others), Application (candles, cosmetic, food, industry, and others), Distribution (wholesale and retail), and Geography (APAC, Europe, Middle East & Africa, North America, and Latin America)

 

 Browse through the entire Table of Contents, List of Exhibits, & Charts 

Get Your Free Sample Now!

The vegetable wax market research report offers analysis on the market size and forecast, share, industry trends, growth drivers, and vendor analysis.

Market Dynamics

The shift from synthetic to natural products across the globe, especially after 2010, has increased the utility of vegetable wax significantly. There has been a growing trend across the world in the last few years toward natural products. Customers opt for additive-free; hence manufacturers focus on natural ingredients, and marketers seek to replace synthetic chemicals in personal care products with safe, organic substitutes without compromising the sensory experience.  Hence, changes in consumer behaviors and the shift toward organic products have augured well for the vegetable wax market.

Several global studies have emphasized the certain negative impact of synthetic materials on human health, thereby increasing the need for cleaner and safe raw materials. This, in turn, has largely affected the consumer product-based markets such as cosmetics and food. This conscious way of living goes hand in hand with making informed decisions about buying products with organic and natural labels. Millennials and Gen Z are checking the ingredients before they buy products. This has widely pushed industry manufacturers to opt for natural raw materials, which, in turn, have increased vast opportunities for the suppliers. Hence, the demand for cleaner raw materials is likely to push the demand for vegetable wax market further during the forecast period.

Snippets

  • APAC is expected to witness steady traction for vegetable wax products during the forecast period.
  • Brazil, Russia, India, and China are likely to witness an increase in market shares with customers shifting toward natural and organic products.
  • The castor wax segment is expected to grow at a CAGR of over 6% during the period 2019­–2025 due to its increasing usage in several cosmetic products such as lipsticks, lotions, and creams.

The global vegetable wax market size is expected to grow at a CAGR of over 5% during the period 2019–2025.

 

Interested in knowing what is inside the report?

 Get Your Free Sample!

Vegetable Wax Market: Segmentation

The global vegetable wax research report includes a detailed segmentation by distribution, product, application, and geography.

 

Insights by Product

The growing health awareness, along with the specific shift toward the adoption of organic wax products, has pushed the candelilla wax industry. Companies catering in this segment have extremely focused on R&D to produce several organic products. This, in turn, push them to formulate several combinations of paraffin and other waxes.  It is the most dominantly used in the food glazing market. It is expected that the increase in demand for processed meat, fish & poultry, and functional foods would drive the demand. In the near future, the growing application of food glazing agents in bakery and confectionery products due to the increasing preference for personalized food items is expected to affect the demand.

The carnauba wax industry growth is driven by highly favorable legislation concerning the use of them as a glazing agent in edible items such as candies, chocolates, and cosmetics. Their usage as a coating medium for regulated pharmaceutical release systems has increased the demand in the pharmaceutical industry. Furthermore, the carnauba segment has witnessed advances in technology, primarily related to wax extraction, and the production and processing techniques have made notable progress. The demand for carnauba wax has remained highly stable despite the availability of several alternatives, such as beeswax and candelilla wax. Superior properties such as permeability and shine have contributed to their widespread use in application industries.

The demand for castor wax market has witnessed significant increments over the years. The growing demand can be attributed due to stringency in government regulations for the use of synthetic chemicals. Moreover, the price for castor seed has also declined in the past years owing to the increasing production in China, Jamaica, and other tropical regions.

Vegetable Wax Market by Application    

Europe is an interesting candle market, where consumption and imports are constantly increasing. Candles, rather than purely functional items, have become decorative accessories. This offers wide opportunities, particularly in the upper-mid market segment for exporters from developing countries. Decorative and gift items retailers are enticing sources for this product. Poland is the principal supplier of candles in Europe. Further, consumer behavior is also moving toward the adoption of healthy natural candles such as soy ones. Soy candles are rapidly in demand as they are made of soybean oil, minimize carbon dioxide emissions, and burn 50% longer than paraffin candles.

Cosmetics has been one of the key application sectors where the use of vegetable wax has been witnessing high demand. This demand is mostly attributed due to the shift in the consumer preference for adopting natural products rather than going for synthetic products.  The growth of natural and organic personal care products has also driven the market. Factors such as the expansion of distribution channels, increased customer reach online, and the shift of modern retailers to offering premium personal care products on the shelves are other factors fueling the growth of vegetable wax in the cosmetic industry. Moreover, new product development, advertising, and increased consumer spending capacity on premium products are primary factors driving the overall growth of the global natural and organic personal care market.

The food industry has widely used waxes to provide a protective coating to fruits and vegetables. Seeking the potential in the shifting consumer behavior, the food industry uses a variety of post-harvest techniques and natural wax to maintain quality and guarantee the longest possible shelf-life and satisfy consumer demand for fresh and healthy foods. The application of a protective coating on fruits and vegetables is an important factor driving growth.

Market by Distribution

Distributors, retailers, and manufacturers are the major vegetable wax suppliers. Manufacturers such as Cargill have promoted the sale through the wholesale network via design models. Vendors, for example, in Europe, primarily sell finished products either through dealers or distributors or the internet. The growth in online sales is set to increase by over 5% during the forecast period. The primary reason for this is online stores offer a variety of options to choose from than retail stores. Besides, prices offered on the internet are lower than retail stores because of the discount offered by vendors to promote their products.

Vegetable Wax Market by Geography

The vegetable wax market in North America has vast potential with regard to consumption. Several application areas such as cosmetics, candles, and food among others have largely adopted the utilization of vegetable wax due to the growing awareness in consumers against the use of synthetic products.  Therefore, customers turn to natural and organic products due to concerns about synthetic chemicals in cosmetics & toiletries.

In APAC, wax has wide applications, ranging from paints to textile, ink & coatings for packaging, cosmetics and pharmaceuticals to food, and electrical & electronics to rubber. Hence, their increased application in these end-user industries is generating a large-scale demand for natural wax. China remains one of the dominant players offering a variety of vegetable wax. The market is fragmented with numerous local and global payers. The cosmetic industry has accounted for decent growth in the last years.

Europe has one of the world's largest cosmetics industries. There is an increasing demand for natural ingredients in cosmetics and toiletries, a development anticipated to continue in the future. The consumer demand for cosmetics and toiletries that avoid contentious chemicals is expected to help fuel the growth. Strong demand for natural ingredients provides opportunities for potential suppliers in developing countries.

Mexico has strong market demand, especially candelilla ones. The country is one of the leading producers in the world. However, the outlook for industrial production remains uncertain as the labor supply needed for wax processing continues to decline.

The Middle East and African market has moderate demand for vegetable wax. This demand is driven by the utilization in several application segments, such as cosmetics and candles. Brands that produce organic beauty products driven from African plants and fruits have soothing, cleansing, and moisturizing properties. Further, countries such as Nigeria, South Africa, Ethiopia, Kenya, Uganda, Tanzania, and Mozambique have the largest consumer market, which has resulted in the industry’s growth over the past decade.

Vegetable Wax Market by Vendors

The vegetable wax market is highly fragmented with many local and international players in the market. The competition is intense. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and upgrades in the manufacturing of natural cosmetics products, pharma, among other application segments. The present scenario is forcing vendors to alter and refine their unique value proposition to achieve a strong presence.

Cargill and Koster Keunen are the key leading vendors in the market. The market concentration in developed countries such as the US and other Western European countries is high, while the market is in its growing stage in developing economies such as China and India because of the entry of global brands in these countries. The competition between vendors exists based on offerings and pricing. Vendors are using new business models and focusing on developing the portfolio of their establishments to drive growth. The focus in cosmetics is heavily shifting toward natural products, which is likely to provide vast opportunities to the vendors.

 

Looking for more information?

Request a Free Sample!

The vegetable wax market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue from 2019 to 2025 for the following segments: 

By Product  

  • Carnauba Wax
  • Candelilla Wax
  • Castor Wax
  • Others

By Distribution

  • Wholesale
  • Online

By Application   

  • Candles
  • Cosmetic
  • Food
  • Industry Applications
  • Others

By Geography

  • Europe
    • UK
    • France
    • Spain
    • Italy
    • Germany
    • Nordic
  • APAC
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • South Africa

KEY QUESTIONS ANSWERED

  • What is vegetable wax and what are its uses?
  • What is the vegetable wax market size and growth rate?
  • What are the different applications of vegetable wax?
  • Which is the fastest-growing segment/application/geography?
  • Which are the leading vendors and what is their market share?

FILL IN YOUR DETAILS BELOW TO GET FREE SAMPLE OF THIS REPORT

Client Speak

data center market size

Erik Young

CEO, Co-founder
Audink Inc., DBA Audios

The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow.

data center market

Benjamin Arnold

Senior Product Manager
Interstates

I recently purchased a key Arizton Industry Outlook & Forecast in order to better understand growth for specific market segments and the macro environmental factors impacting this growth. I found Ariztonā€™s coverage of the market dynamics and key takeaways to be insightful and valuable. The segmentation breakouts gave me the information I needed to guide strategic considerations.

data center market research

Hallmann, Nickolai

Manager Market Analyst Power
Generation & Energy
Rolls-Royce Power Systems AG

The provided information by Arizton really met my expectations. Especially the deep information about the datacenter ecosystem was very helpful. Furthermore, I absolutely appreciate the optimal service from the key account managers of Arizton. It was always a pleasure working with them.

Customer Service

Support

+1-312-235-2040

Copyright 2019 - Arizton

data center market