Key Market Indicators
The global wax market value is set to reach $347.5 million by 2026, a 0.5% year-on-year increase from 2020's $336.8 million. This growth of 2.7% year-on-year has been helped by key players China, Japan and Germany, who respectively ranked second, third and fourth. British wax exports are set to reach 20.2 million kilograms in 2026, a 0.8% year-on-year average increase from 2021's 19.3 million kilograms. Since 1998, British supply has grown 3.9% year-on-year, ranking 11th in 2021, behind Russia's 19.3 million kilograms. Malaysia, Germany and South Africa respectively came in second, third and fourth in this ranking. British wax imports are set to fall by 3.8% year-on-year from 2021’s 9.7 million kilograms to 7.8 million kilograms in 2026. This 6.7% year-on-year decrease since 1998 has seen the UK rank 17th in 2021, behind India's 9.7 million kilograms. Mexico, Germany and Poland respectively were the second, third and fourth largest importers in this ranking.
