USD 271.22 million
Carnauba Wax Market Size, Share, Growth Analysis, By Product(Type 1, Type 3, Type 4), By Application(Cosmetics, Food, Pharmaceutical, Automotive), By Form(Powder, Flakes, Pellet), By Source(Natural, Organic), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2439 |
Region:
Global |
Published Date: July, 2036
Pages:
222
|Tables:
118
|Figures:
77
Carnauba Wax Market Insights
Carnauba Wax Market size was valued at USD 271.22 million in 2019 and is poised to grow from USD 280 million in 2023 to USD 350 million by 2031, growing at a CAGR of 3.15% in the forecast period (2024-2031).
Rising consumption of chewy confectionery products like jellies and chewing gums by young population with the easy availability across various regions are the major factors expected to drive the growth of the global carnauba wax market during the forecast period. Moreover, wide utilization of carnauba wax in several types of applications as a type of hardening ingredient and gelling, are further estimated to propel the growth of the market at a significant growth rate over the coming years.
Furthermore, global carnauba wax market is highly dependent on the supply of its raw materials extracted from Brazilian palm trees owing to the low cost of raw material and sources of employment for laborers in the country. Additionally, global market players are focusing on improving technological advancements in their manufacturing and distribution process to cater the rising need across the globe. The carnauba wax market is also projected a rapid growth on account of the increasing demand for these wax in food glazing and various cosmetics market.
US Carnauba Wax Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Type 1
Fastest Growth
Type 3
Growth Rate
3.15% CAGR
Global Carnauba Wax Market, 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Carnauba Wax Market Segmental Analysis
Global carnauba wax market is segmented on the basis of product, application, source, form, and region. By product, the market is sub-segmented into type 1, type 3, and type 4. By source, the Carnauba Wax Market is segmented into natural, organic. By form, the Carnauba Wax Market is segmented into powder, flakes, pellet. By application, the Carnauba Wax Market is categorized into cosmetics, food, pharmaceutical, automotive, and others. By region, the Carnauba Wax Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Carnauba Wax Market Analysis by Product
By product, the type 1 segment dominated the market and accounted for a significant market share in 2021 owing to its high purity and rising popularity in various niche applications including food products and pharmaceutical. Moreover, high utilization of these products in manufacturing of premium automotive wax formulations, that is mainly used to enhance the outer shine of automotive bodies and rising aesthetic appeal, all these factors are likely to boost the demand the demand and growth of the segment in the near future.
Carnauba Wax Market Analysis by Application
By application, the food products segment held the largest market share in 2021 and it is anticipated to maintain its dominance throughout the forecast period owing to high use of carnauba wax in fruit coatings and confectionery. In addition, increased consumer disposable income, growing expenditure on food products, and enhanced packaging to attract consumers are also expected to fuel the growth and demand of the segment over the coming years.
Furthermore, the automotive segment is witnessing fastest CAGR during the forecast period due to the increasing need for premium shine wax in automotive sector to enhance the shining and aesthetic apparel of vehicles. Additionally, increasing investment by large market players in automotive industry for improving build quality and reaching larger consumer base is also fueling the demand for carnauba wax in the coming years.
Global Carnauba Wax Market By Product, 2021 (%)
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Carnauba Wax Market Regional Insights
Globally, North America dominated the carnauba wax market with a holding of significant market share in 2021, and is set to continue this dominance over the forecast period. Early adoption to advanced technology, high consumer income, and growing demand for carnauba wax in several applications are the key factors anticipated to drive the growth of the carnauba wax market in the region. In addition, increasing consumer spending on their health and well-being by opting for natural and organic products is also fostering the growth of the regional market.
Furthermore, Asia Pacific region is projected to grow at fastest rate throughout the forecast period owing to rapid industrialization, development of several industries, and high population burden in the region. Moreover, rising need for food glazing agents and confectionery especially in various developing economies including India, China, and Brazil is driving the demand and popularity of carnauba wax in the region, which las led to tremendous growth in the region.
Global Carnauba Wax Market By Geography, 2021-2028
- Largest
- Fastest
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Carnauba Wax Market Dynamics
Carnauba Wax Market Drivers
- Rising consumer inclination towards organic and naturally derived products coupled with excellent emulsifying properties and binding capacity for gaining traction and oils are the key factors expected to drive he growth of the global carnauba wax market during the forecast period. In addition, owing to its high melting point and various glossy characteristics, it is gaining popularity as a natural additive choice among global manufacturers of cosmetic products industry like lip balms, mascaras, and lipsticks. This has resulted in high growth in adoption of carnauba wax in these industries, and contributing significantly to the global market growth.
Carnauba Wax Market Restraint
- Some side effects cause by using carnauba wax such as skin rash, inflammation of hair follicle, and contact dermatitis are likely to be the major restraining factors for the growth of the global carnauba wax market over the forecast period. Low profitability margin for manufacturers and less commercialization are also anticipated to hamper the growth of the market over the coming years.
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Carnauba Wax Market Competitive Landscape
The global carnauba wax market is moderately competitive with the presence of many well-known international and local companies operating around the globe. Major companies of the market are highly focusing on several business strategies including mergers & acquisitions, collaborations, partnerships, new product launches, and high technological development for expanding their product offerings and global market presence.
Carnauba Wax Market Top Player’s Company Profiles
- Starhl & Pitsch Inc.
- Koster Keunen
- Foncepi Group
- Brasil Ceras
- TMC Industries Inc.
- Carnauba do Brasil Ltda.
- Pontes Indústria de Cera Ltda.
- Akrochem Corporation
- Poth Hille & Co Ltd.
- Frank B. Ross Co., Inc.
- Industrial Química del Nalón, S.A.
- KahlWax
- Norevo GmbH
- Sonneborn LLC
- Huzhou Shuanglin Shenghua Chemical Co., Ltd.
- Kahl GmbH & Co. KG
- Chemtura Corporation
- Sasol Performance Chemicals
- Manta Wax Inc.
- Clariant AG
Carnauba Wax Market Recent Developments
- In July 2021, Akrochem Corporation announced the acquisition of Bech Chem, a leading global chemical supplier. The new acquisition will help the company to expand its business into the paint, coatings, and lubricant markets. It is looking forward to create lasting relationships with the new customers based on the same great chemistry and expertise.
- In 2021, DoorDash announced about its new partnership with Lush Retail Ltd., for offering same day delivery of fresh, natural, and handmade products to the consumers. With this partnership, consumers are able to get access to Lush products on-demand and at their fingertips.
Carnauba Wax Key Market Trends
- Change in consumer preferences and their hectic lifestyles coupled with the growing popularity of chewing products among youth population is rapidly fueling the growth of the market in the coming years. In the last few years, major key players have implied on many procedures on development and innovation of new products and enhance the product packaging to attract the larger consumer base towards their product offerings, which has led to lucrative growth opportunities for the market for the near future.
Carnauba Wax Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global carnauba wax market is witnessing a significant growth during the forecast period owing to high consumer spending, introduction to new products, and wide utilization of carnauba wax in several end-use industries. Additionally, properties of carnauba wax such as emulsifying, thickening, and softening of skin are also projected to fuel the demand and growth of the market over the coming years. However, some health issues are also associated with these products like blurry vision, irritation, and burning of the eyes, which are likely to hinder the global market growth during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 271.22 million |
| Market size value in 2031 | USD 350 million |
| Growth Rate | 3.15% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Carnauba Wax Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Carnauba Wax Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Carnauba Wax Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Carnauba Wax Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Carnauba Wax Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Carnauba Wax Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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