Key Market Indicators
The wax market value is predicted to reach US$302 million by 2026, a 2.1% year-on-year growth rate since 2020, when it was US$267 million. China, Japan and Germany respectively ranked second, third and fourth in this ranking. Korean wax export is expected to reach 1.1 million kilograms by 2026, a 1% year-on-year average rate since 2021, when it was 1 million kilograms. Since 1993, Korean supply has increased by 0.8% year-on-year. In 2021, Denmark overtook Korea for the number 23 spot. Malaysia, Germany and South Africa respectively ranked second, third and fourth in this ranking. Korean wax import is predicted to reach 17 million kilograms by 2026, a 0.9% year-on-year average rate since 2021, when it was 18 million kilograms. Since 1993, Korean demand has increased by 0.3% year-on-year. In 2021, France was ahead of Korea in ninth place. Mexico, Germany and Poland respectively ranked second, third and fourth in this ranking.
