Key Market Indicators
The global wax market value is projected to reach $627.8 million by 2026, a 0.2% average annual increase since 2020. China, Japan and Germany respectively held the 2nd, 3rd and 4th positions in the 2020 market value ranking. German wax exports are expected to fall by 0.5% annually to 92.4 million kilograms by 2026, down from 95.1 million kilograms in 2021. Since 1996, German supply has increased by 0.9% per year. Malaysia surpassed Germany in 2021 with 95.1 million kilograms. Malaysia, Germany and South Africa respectively held the 2nd, 3rd and 4th positions in the 2021 ranking. German wax imports are projected to rise by 1.1% CAGR to 139.6 million kilograms by 2026, up from 131.1 million kilograms in 2021. Since 1996, German demand has grown by 2.3% annually. Mexico overtook Germany in 2021 with 131.1 million kilograms. Mexico, Germany and Poland respectively held the 2nd, 3rd and 4th positions in the 2021 ranking.
