Carnauba Wax Market to Expand as New Vendors Emerge in the Cosmetics Industry

The demand within the global carnauba wax is rising on account of advancements in the domain of dentistry. Teeth whitening treatments involve the use of carnauba wax, and this factor has played an integral role in market growth. Brazil is amongst the largest exporters of carnauba wax. The country has played an important role in defining the demand dynamics of the global carnauba wax market. Furthermore, the use of this wax in the automobile industry has also generated fresh revenues for market growth. Therefore, the vendors operating in the global carnauba wax market are expected to focus on searching for a wider consumer base. Entry into new markets and territories could help these vendors in ensuring a regular inflow of revenues.

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In this blog, TMR Research unravels several key factors pertaining to the growth of the global carnauba wax market. The study of important end-use industries gives valued insights about market growth and maturity.

Use of Carnauba Wax in Household Products

Carnauba wax is widely used in manufacturing household products such as shoe polish, dental floss, and sweet recipes. Therefore, the growth of the global carnauba wax market largely relies on the propensities and preferences of the masses. Furniture used in houses can be coated with carnauba wax to impart a shiny finish to it. Furthermore, turpentine and beeswax is easily available across several regions.

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Growth of Cosmetics Industry

Cosmetic manufacturing is a lucrative area of investment, and has already generated stellar revenues for market vendors. The use of carnauba wax for manufacturing high-quality cosmetics has emerged as an important standpoint from the perspective of growth. Face creams are blended with carnauba wax in order to improve their texture.

Carnauba Wax Market will rise at a Higher pace during 2017-2025

Carnauba Wax Market: Snapshot

The global carnauba wax market, traditionally dominated by Brazil, has emerged as a major economic avenue in recent years thanks to the steady growth of the automotive and food and beverage sectors. The cosmetics sector’s growth in developing countries has also been vital for the global carnauba wax market and is likely to remain a key driver due to the growing demand for a variety of anti-pollution and anti-aging products.

The automotive industry has emerged as a leading consumer in the global carnauba wax market due to the growing secondhand car industry. Carnauba wax is a precious commodity in automotive maintenance due to the superior performance it provides in terms of polish. Thus, resold cars generally require a generous application of carnauba wax, while new cars are also often treated with carnauba wax to maximize their appeal to customers. The growing automotive industry in developing countries is thus likely to be vital for the global carnauba wax market, while developed regions are home to an affluent consumer demographic that has shown a steady interest in automobile maintenance and is likely to remain a key consumer in the global carnauba wax market.

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The food and beverage industry has become a key consumer in the global carnauba wax market due to the rising demand for food glazing and the increasing consumption of confectionery items such as jelly and chewing gum. The rising demand for sweets in developing countries, where the products are still novel, is thus likely to be a vital contributor to the global carnauba wax market.

Global Carnauba Wax Market: Overview

The global carnauba wax market has witnessed tremendous growth over the past few years, due to its increasing application in the pharmaceutical and cosmetics sector. Brazil is the leading producer as well as exporter of carnauba wax across the globe. The manufacturing of this wax involves low setup cost, however, the labor intensive nature of extraction and processing leads to a high labor cost, thereby boosting the overall manufacturing cost. Moreover, the widespread adoption of primitive tools for extraction leads to an increase in the overall extraction time. This wax commonly finds its application in food, pharmaceutical, automotive, and cosmetics.

The report serves as a reliable business tool providing information regarding important parameters of the global carnauba wax market. It is intended to update stakeholders about the ongoing trends of the market. It provides an immaculate understanding of the market through definitions, classifications, applications, and chain structure. It gives a detailed description of the factor influencing the market and analyzes the extent to which they impact the growth. It offers qualitative and quantitative insights into the competitive landscape of the market. It profiles key players in the market and takes into account their business strategies, latest development, investment outlook, financial overview, and market shares. For a coherent understanding, the report segments the global carnauba wax market on the basis of various criteria including geography and applications.

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Global Carnauba Wax Market: Drivers and Restraints

The burgeoning consumption of confectionary products such as jellies and chewing gums, particularly in developing countries, is anticipated to stimulate the demand for carnauba wax in the forthcoming years. In addition, the rising demand for food glazing agent in the food and beverage industry is bolstering the growth of the market. The growth of the market is also backed by conducive regulations enforced by regulatory authorities such as the Food and Drug Administration (FDA) and the European Union. On the other hand, the rising attempts of market participants to increase their margins and revenues are resulting in an increase in price, which in turn is adversely affecting the growth of the market.

Global Carnauba Wax Market: Geographical Segmentation

Based on geography, the key segments meticulously studied in the report are Asia Pacific, Europe, North America, and Rest of the World. Europe and North America will account for a substantial cumulative share in the market throughout the forecast period. The growing demand for waxes for the production and maintenance of automobiles is bolstering the growth of these regions. The robust growth of the automotive care industry, due to rising automobile sales coupled with the increasing sales of pre-used cars, is translating into the greater uptake of carnauba wax.

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Asia Pacific will rise at a noteworthy pace during the same period, owing to the growing demand for food glazing agents in the food and beverage industry. The rapid industrialization, which is leading to the flourishing growth of various end-user industries, is also impacting the growth of the region positively. Moreover, the rising disposable income of consumers is propelling the growth of the region.

Global Carnauba Wax Market: Competitive Landscape

Prominent players in the global carnauba wax market are paying strong attention to improving their distribution network to cater to the global demand. The majority of players are focusing towards product customization to serve better to the requirements of end users and stay relevant in the market. The strong foothold of key players, due to their market knowledge and acumen, makes the market a highly competitive arena. Some of the key companies operating in the global metal carnauba wax market are Brasil Ceras, Tropical Ceras do Brasil Ltda, FONCEPI – Comercial Exportadora Ltda, Pontes Indústria de Cera Ltda, and Carnauba do Brasil Ltda.

Confectionary and Cosmetics Driving Demand for Carnauba Wax

San Francisco, California, November 06, 2017: A recent business and commerce study by TMR Research has noted that while the countries in North American and European regions have been the primary consumers of chewy confectioneries such as chewing gums and jellies, youngsters in the region of Asia Pacific are inclining towards these sweet products with different flavors. Consequently, the demand in the global carnauba wax market will increment at a significant CAGR during the forecast period of 2017 to 2025. Significant impetus is also given by the leading vendors on strengthening their distribution channels, as most of the raw material comes from a single country of Brazil, and then is distributed across the world.

This report, developed by a group of experienced research analysts, aspires to function as a reliable business tool for its targeted audiences such as vendors of food and beverage, government agencies, suppliers and distributors, and others. The report provides an overview of the current scenario of the market, explores dynamics such as drivers, trends, and restraints, segments it into smaller aspects, takes stock of the potential of carnauba wax market in various regions, and profiles some of the key companies in order to represent the competitive landscape. FONCEPI – Comercial Exportadora Ltda, Tropical Ceras do Brasil Ltda, Brasil Ceras, Carnauba do Brasil Ltda, and Pontes Indústria de Cera Ltda. are some of the prominent companies currently connected to the value chain of the global carnauba wax market.

As per the findings of the report, a number of factors will fuel the carnauba wax market over the course of the said forecast period, such as growth of confectionery industry in emerging economies such as China, India, and Japan. A chunk of manufactures of this carnauba wax are based out of Brazil, as the country has abundance of raw materials. Supplies extract wax from the leaves of the Brazilian palm tree, filter it, and processes it to make it ready for application. While the latter two processes are not very capital intensive, which makes this segment of the market a highly fragmented one. On the other hand, the extraction methods are highly dependent on labor and thereby higher cost and hence fewer players.

Application-wise, the global carnauba wax market can be segmented into cosmetics, automotive, food, pharmaceuticals, and others. Currently, the food industry provides for the maximum demand, which is a reflection of growing usage of carnauba wax in fruit coatings and confectioneries. The culture of cake has spread furiously across heavily populated country of India and urban populations with increased disposable income are providing substantial thrust to this segment. That being said, the automotive sector is also promising strong demand throughout the forecast period, as the demand for high shine wax is increasing for luxury vehicles. Cosmetics industry is also expected to provide a considerable chunk of demand in the near future, particularly for type 1, the purest form of the product called carnauba wax.

Geographically, while North America will remain the most lucrative region, followed by Europe, Asia Pacific is expected to emerge as a highly profitable region for the companies who invest strategically in emerging economies such as India and China, gaining traction from prospering food and beverage industry as well as the automotive industry.

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