Key Market Indicators
The major destinations for Ecuadorian wax exports were Peru and Mexico in 2017. The global wax market is set to reach a value of $5,354,800 by 2026, falling by 0.3% year on year on a compound annual growth rate (CAGR) basis. This is a decrease from the 2020 market value of $5,434,100, which was down 0.8% from the previous year. China, Japan, and Germany were ranked second, third, and fourth respectively. Ecuadorian wax imports are projected to reach 2,597,400 kilograms by 2026, growing at an average rate of 1.9% year on year. This is an increase from the 2021 total of 2,320,800 kilograms, which is 7.5% higher than the 1996 figure. Morocco led the way in 2021, with Ecuador in 46th place. Mexico, Germany, and Poland were the second, third, and fourth ranked countries respectively. In 2017, Ecuadorian wax exports totalled 32,680 kilograms, a decrease of 41% from the 2016 figure of 55,360 kilograms. The major export destinations for Ecuadorian wax were Peru and Mexico in 2017.
