The Global Vegetable Wax Market to Reach Revenues of Over $170 Million During the Period 2020 −2025 - Market Research by Arizton

CHICAGO, March 18, 2020 /PRNewswire/ -- According to Arizton's recent research report, Vegetable Wax Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 5% during the period 2019−2025.

Key Highlights Offered in the Report:  

1.  Boosted by the growing demand in North America and APAC especially, the global vegetable wax market is likely to account for a CAGR over 5% during the forecast period.

2.  The growing emphasis on the use of natural products, Europe is expected to generate immense opportunities for vendors, growing at a CAGR over 5% by 2025.

3.  The cosmetics sector offers vast incremental growth opportunities of more than $14 million in terms of revenue during the forecast period.

4.  APAC emerged as the largest market occupying over 38% share of the global vegetable wax market in 2019.

5.  The US accounted the largest market share accounting for a CAGR around 6% with an incremental growth over $13 million during the forecast period.

Key Offerings:

• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by distribution, product, application, and geography
• Competitive Landscape – Profile of 3 key vendors and 14 other vendors

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Vegetable Wax Market – Segmentation

• The carnauba wax segment 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.
• 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.
• 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.

Market Segmentation by Product  

• Carnauba Wax
• Candelilla Wax
• Castor Wax
• Others

Market Segmentation by Distribution

• Wholesale
• Online

Market Segmentation by Application   

• Candles
• Cosmetic
• Food
• Industry Applications
• Others

Vegetable Wax Market – Dynamics

The market demand has shifted and goods such as organic products has led the way. The introduction of fresh small-batch skincare products has underlined this pattern with naturals. Tata Harper Skincare is just one of many success stories, delivering 100% pure and non-toxic, quality sustainable skin care products for the thriving beauty market. In addition, there has been a growing trend among European customers over the last year towards what is included in goods rather than what is excluded; products which include natural ingredients over those showing free labelling. Moreover, customers opt for additive-free, drug makers should focus their attention on what natural ingredients a substance includes rather than what it does not contain, and marketers should now seek to replace synthetic chemicals in personal care products with safe, organic substitutes without compromising the sensory experience.

Key Drivers and Trends fueling Market Growth:

• Rising Demand for Cleaner Raw Materials
• Opportunity in Cosmetic Industry
• Increase in Environmental Concerns
• Emphasis on Human Health

Vegetable Wax Market – 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. Retailers are responding by increasing their range of natural & organic personal care products, some of which have dedicated areas for those products. Natural food shops are still generating most sales, but conventional retailers' market share is increasing. Natural & organic personal care products make inroads in personal care specialty shops, department stores, drug stores and supermarkets.

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Market Segmentation 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
• MEA
• UAE
• Saudi Arabia
• South Africa

Major Vendors

• Cargill
• Huzhou Shengtao Biotech
• Koster Keunen

Other vendors include - Croda Industrial Chemicals, Brenntag (EPChem), Marcus Oil, Argan Co., FAITH Industries, BASF, CALWAX, PJ Group India, Falcon, Foncepi, Carnaúba do Brasil, Brasil Ceras, KAVYA IMPEX, and Shri Ram Sons Wax Private Ltd.

Explore our consumer goods & retail technology profile to know more about the industry.

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