Beeswax is a natural wax produced by honeybees that contains esters, fatty acids, hydrocarbons, and other components. It has been used extensively in various settings around the globe for ages, such as as a waterproofing agent for pottery vessels and fuel, cosmetics, religious ceremonies, medicine, tools, and others such as modeling and casting. Recently, the use of beeswax has seen tremendous growth in various industries, and in addition to its ancient uses, beeswax is now also used in candles due to its high melting point, which allows candles to last long in hot weather; polishes; as a lubricant; as a cosmetic ingredient; food wraps; as a rust-resistant material; and in electric engineering, among others. These uses of beeswax assist in its market’s growth. Moreover, according to OMR Research, the global beeswax market is expected to grow at a CAGR of 3.2% during the forecast period of 2023–2029.
Segments in the Market
The global beeswax market is divided on the basis of type and application. Based on type, the market is subdivided into organic and conventional. Further, based on application, the market is subdivided into pharmaceuticals, food and confectionery, cosmetics, and others.
Recent Developments
Koster Keunen, Inc., Arjun Bees Wax Industries, Bill’s Bees Inc., Dabur India Ltd., Bulk Apothecary, Jedwards International Inc., Shandong Bokang Apiculture Co., Ltd., Hase Petroleum Wax Co., and other players are assisting in the market’s growth with various mergers, collaborations, investments, technology innovations, and new product launches in the market. Some of the recent market developments include:
• In October 2022, NUXE, a cosmetics product manufacturer, launched its honey-based lip balm collection called the Reve de Miel. The collection offers lip balm and moisturizing sticks that are made with 100% natural ingredients, including beeswax, lavender honey, propolis, organic camelina oil, sunflower oil, and honey. These lip balms and moisturizing sticks will nourish lips, repair dry lips, and protect them.
• In October 2022, Walmart, a multinational retail corporation, partnered with Sproutlings, a crayon maker, to provide Sproutlings’ category-first crayons at all of Walmart’s stores. The crayons are made with a natural soy and beeswax blend, food-grade color pigments, and come in plastic-free and compostable home packaging.
• In July 2022, Vistara, an Indian airline service, announced to offer ayurvedic wellness amenity kits from August 2022 to business class customers that are traveling to and from Heathrow, London, Paris, and Frankfurt. This kit will contain Forest Essential products, including sandalwood essential oils, lip balm made with organic beeswax and cocoa butter, sleep spray, and body milk made with beeswax, burnt sugarcane, milk cream, and apricot oil.
• In June 2022, Chamois Butt’r announced the launch of a new anti-chafe balm product, Ultra Balm, made with natural oils and beeswax. According to the company, Ultra is a perfect solution in humid, rainy, and hot weather for athletes and riders since it is a non-sweaty formula that lasts longer than other conventional creams.
• In February 2022, Lush, a British cosmetics retailer, launched a series of moisturizers and cleansers, including Celestial moisturizer, Skin Drink moisturizer, Vanishing Cream moisturizer, Enzymion moisturizer, Skin’s Shangri La moisturizer, and UltraBlend self-preserving cleanser. The Ultrabend cleanser is made with gentle oil, rosewater emulsion, and beeswax and removes dirt and makeup without removing the skin’s natural defenses, keeping the skin soft.
Conclusion
The global beeswax market is witnessing growth due to its uses and characteristics, such as its infinite shelf life (if kept in a cool, dry place) due to a protective substance called propolis, its high melting point, its water-resistant properties, and its antifungal and antibacterial properties, which make it more popular among manufacturers and consumers. In addition, a new and significant trend of going green among consumers and various industries is propelling the market’s growth, since manufacturers are replacing plastic with beeswax for some products such as zip-lock bags, food wraps, antimicrobial bags, and others. Such initiatives by emerging and established market players are creating new growth opportunities for beeswax in various industries, such as food, cosmetics, and pharmaceuticals. In the pharmaceutical industry, beeswax is used as a healing agent for inflammation, bruises, and burns and as a pain reliever. All of these factors will support the market’s growth in the forecast period.