Global Myrica Fruit Wax Market, By Component (Aliphatic Hydrocarbons, Alkyl Esters, Fatty Acids, Primary and Secondary Alcohols), Melting Point (45C – 55C), Function (Emulsion Stabilization, Provide Viscosity and Consistency), End Use (Personal Care Products, Hair Care products, Candles, Massage Bars), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India , South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The myrica fruit wax market is expected to witness market growth at a rate of 6.40% in the forecast period of 2021 to 2028 and is expected to reach USD 0.33 billion by 2028. Data Bridge Market Research report on myrica fruit wax market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing use of product in cosmetic and food processing sectors is escalating the growth of myrica fruit wax market.
The wax is derived from the berries of the myrica pubescent tree which are generally found at high altitudes in the Andes Mountains and in the regions of Colombia, Bolivia, Ecuador and Peru. The fruit wax is considered to be unique as it is hard but possesses no double bonds. It is naturally hydrogenated oil with a low melting point which is a lot close to human body temperature and thus, makes it as human body temperature to be utilized in personal care and cosmetics products. They are extracted via boiling and then skimming the surface and it is processed in Germany with no use of solvents or additives.
The increasing use of product for balm, butter and hair styling products owing to great feel to the skin and their high usage for emulsion stabilization for cosmetic products acts as the major factors driving the growth of myrica fruit wax market. The consumer inclination towards the organic and natural products increases the demand of the fruit wax as it is produced without the use of solvents or additives and the rise in the popularity of the product as it has a low melting point which leads to an extremely smooth texture of the products made with myrica wax further accelerate the myrica fruit wax market. The capability of the product to make lip balms in a tube or even some stick products such as a facial balm and the use of the wax to reduce the tackiness of water-in-oil emulsions while increasing product stab also influence the myrica fruit wax market. Additionally, high usage in wide range of cosmetic applications on skin and hair, change in consumer preference towards vegan products, emphasis on human health and rising environmental concerns and surge in disposable income positively affect the myrica fruit wax market. Furthermore, research and development projects and innovations in product formulations extend profitable opportunities to the myrica fruit wax market players in the forecast period of 2021 to 2028.
On the other hand, long timespan required for plantation, and low cost of other waxy raw materials such as animal and insect wax compared to the fruit wax is expected to obstruct the myrica fruit wax market growth. The difficulty in the management and care of such plantations because of the unfavorable climatic conditions and untimely rains is projected to challenge the myrica fruit wax market in the forecast period of 2021 to 2028.
This myrica fruit wax market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on myrica fruit wax market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Myrica Fruit Wax Market Scope and Market Size
The myrica fruit wax market is segmented on the basis of component, melting point, function and end use. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the myrica fruit wax market is segmented into aliphatic hydrocarbons, alkyl esters, fatty acids and primary and secondary alcohols.
- On the basis of melting point, the myrica fruit wax market is segmented as 45c to 55c
- On the basis of function, the myrica fruit wax market is segmented into emulsion stabilization and provide viscosity and consistency.
- On the basis of end use, the myrica fruit wax market is segmented into personal care products, hair care products, candles and massage bars.
Global Myrica Fruit Wax Market Country Level Analysis
The myrica fruit wax market is analyzed and market size, volume information is provided by country, component, melting point, function and end use as referenced above.
The countries covered in the global myrica fruit wax market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America and Europe dominate the myrica fruit wax market because of the expansions of the cosmetics and pharmaceutical industry, increasing demand for natural cosmetics and pharmaceutical products and medicines. Asia-Pacific is expected to witness the fastest growth during the forecast period of 2021 to 2028 due to the increasing use of pharmaceuticals and cosmetics.
The country section of the myrica fruit wax market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Myrica Fruit Wax Market Share Analysis
The myrica fruit wax market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to myrica fruit wax market.
The major players covered in the myrica fruit wax market report are Soap Makers Store, Koster Keunen, alexmo cosmetics, Natural Sourcing, LLC, TM Kobashi Ltd, Studio Botanic GmbH, SkinChakra, Merck KGaA, Humblebee & Me, Katyani Exports, Bay House Aromatics, Strahl & Pitsch, Inc., Kahl GmbH & Co. KG, Xi'an Best Bio-Tech Co., Ltd., Kemie Industries, Organic Herb Inc, Greenutra Resource Inc, Qingdao Elites-United Foodstuff Co., Ltd. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.