Between 2013 and 2023, the artificial and prepared waxes (excluding polyethylene glycol) market in Mauritius exhibited fluctuating yet modest per capita values, peaking at $0.52 in 2014 and dipping to $0.38 in 2020. As of 2023, the per capita value stood at $0.47, consistent with the previous two years. From 2022 to 2023, the market value per capita remained unchanged, while the compound annual growth rate (CAGR) over the past five years indicated a stable trend. Although the COVID-19 pandemic slightly negatively impacted 2020, a recovery trend became visible in the following years, stabilizing at $0.47.
Future trends to watch include increasing demand for natural alternatives and environmentally friendly products, which might influence the market. Additionally, macroeconomic factors such as fluctuations in raw material prices and advancements in manufacturing technology may impact the market dynamics.
