Global Carnauba Wax Market

Carnauba Wax Market Size, Share, Growth Analysis, By Product(Type 1, Type 3), By Application(Cosmetics, Food), By Form(Powder, Flakes), By Source(Natural, Organic) - Industry Forecast 2024-2031

Report ID: SQMIG15E2439 | Region: Global | Published Date: July, 2036
Pages: 222 | Tables: 118 | Figures: 77

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.

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FAQs

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).

The 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 market presence. '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'

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 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 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 market growth.

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.

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.

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Global Carnauba Wax Market

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