Carnauba Wax Market
Carnauba Wax Market Study by Powder and Flakes in Food & Beverages, Personal Care, Pharmaceuticals, and Automotive From 2024 to 2034
Analysis of Carnauba Wax Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Carnauba Wax Market Outlook (2024 to 2034)
The global carnauba wax market is analyzed to reach a value of US$ 320 million in 2024. The market is forecasted to expand at a noteworthy CAGR of 6.7% to touch US$ 611 million by 2034-end.
The utilization of carnauba wax also popularly known as Brazilian wax is increasing in several industries such as automotive, food & beverages, pharmaceuticals, personal care, and others. The shiny properties of carnauba wax are making it an ideal option in the personal care industry for the production of skin moisturizers, eye makeup, lip care, and other products. Some of the key players in the carnauba wax market are aiming at Asian countries including South Korea, China, India, and Australia due to the growing automotive, pharmaceutical, and personal care industries.
In 2021, the North American region is estimated to hold 31% of the worldwide carnauba wax market share due to its increasing application in the automotive and food industries. The well-known personal care and cosmetic industry in Western and Eastern Europe is positively influencing the sales growth of carnauba wax. The demand for natural and organic products in personal care products and cosmetics is continuously increasing in countries such as Germany, the United Kingdom, and France.
Based on form, the demand for flakes of carnauba wax is high in comparison with powder due to its ease of handling and application. Flakes carnauba wax dissolves more easily in solvents, mixes well into formulations, and is simpler to measure and mix, and because of this, it is becoming a popular choice in commercial and industrial settings.
| Report Attribute | Detail |
|---|---|
| Carnauba Wax Market Size (2024E) | US$ 320 Million |
| Forecasted Market Value (2034F) | US$ 611 Million |
| Global Market Growth Rate (2024 to 2034) | 6.7% CAGR |
| East Asia Market Share (2024E) | 33.5% |
| North America Market Value (2024E) | US$ 99.1 Million |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 8.1% CAGR |
| Flakes Carnauba Wax Segment Value (2034F) | US$ 262.6 Million |
| Gelling Agent Segment Value (2034F) | US$ 167.9 Million |
| Key Companies Profiled | Strahl & Pitsch, Inc.; Poth Hille & Co Ltd; Koster Keunen, LLC.; Calwax; Kahl GmbH & CO. KG; Frank B. Ross Co., Inc.; Akrochem Corporation; Lush Retail Ltd.; Spartan Chemical Company Inc.; Turtle Wax; Feast Watson; Chestnut Products. |
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2019 to 2023 Global Carnauba Wax Market Outlook in Comparison to 2024 to 2034 Growth Forecast
Carnauba wax, also known as Brazil wax, is a type of wax derived from the leaves of a species of palm, copernicia prunifera. Owing to its glossy finish, the application of carnauba wax is found across various end-use industries which is directly translating into the growth of its market.
The carnauba wax is popularly used in automobile wax, food products, floor and furniture waxes, and instrument polishes. In recent years, the cosmetic industry has been gaining high traction worldwide, especially in emerging economies due to high spending capabilities. This is expected to propel the growth of the carnauba wax market as the wax has excellent emollient and hypoallergenic properties, making it an ideal ingredient for cosmetic products. All these factors are estimated to provide a gain to the carnauba wax market during the forecast years from 2024 to 2034.
Penetration in Food and Confectionary Industries to Drive Growth
Carnauba wax possesses good emulsifying and stabilizing properties, which is triggering innovation in the food & beverage industry. Edible films and carnauba wax coatings are used in a large number of food applications to meet product-specific needs such as to improve its shelf life and enhance its outer appearance. Carnauba wax is commonly used in the preparation of confectionery products and fruit coatings, marking a high contribution of the food industry in the growth of the carnauba wax market.
Attributing to its high melting point and glossy properties, carnauba wax is commonly used as an automotive care polish. Increasing demand for car waxes made with carnauba oil is likely to fuel the growth of the carnauba wax market by 1.9X over the assessment period of 2024 to 2034. Apart from the food industry and automotive industry, carnauba wax finds numerous applications across other industrial sectors including the pharmaceuticals industry and the cosmetics industry.
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Carnauba Wax Gaining Traction in Cosmetics Industry Presenting Opportunities
Glossy characteristics of carnauba wax boost its demand for producing cosmetics and personal care products such as lip care products, skin moisturizers, and other eye makeup products. Leading Asian countries such as China, Japan, India, and Australia offer more than 3 billion potential consumers, indicating lucrative opportunities for manufacturers in the cosmetics industry.
Leading manufacturers in the carnauba wax market are banking on numerous applications of carnauba wax in the cosmetics industry. Carnauba wax manufacturers are adopting strategies to capture business opportunities in the flourishing segments of the ethnic beauty markets.
Companies are offering cosmetics products under a diversified product range consisting of functional ingredients for various beauty products. They are launching products with a blend of carnauba wax and oils, used to manufacture lipsticks with high gloss and high heat resistance. Therefore, owing to the above factors, the demand for carnauba wax market is estimated to witness an increase in coming years.
Cheaper Alternatives to Impede Demand
Carnauba wax is often combined with some chemical solvents to make it feasible for use in various cosmetic as well as food products. Increasing awareness about the negative health effects of synthetic chemicals added to carnauba wax is encouraging consumers to shift to its healthier alternatives. Also, carnauba wax is much more expensive as compared to its popular substitutes such as sunflower seeds wax, candelilla wax, and beeswax. Therefore, the presence of cheaper alternatives of carnauba wax is likely to impede the market demand negatively and restrain market demand over the assessment period of 2024-2034.
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Region-wise Insights
Which region accounts for more enhanced demand for the Carnauba Wax Market?
North American carnauba wax market accounts for the market share of 31% in 2024. The region is projected to register a CAGR of 7.5% during the forecast years. The growth is attributed to the dynamic consumer demand and the provision of natural carnauba wax in the market. Moreover, the presence of leading market players, introducing innovative products such as organic, herbal, halal carnauba wax, vegan-friendly carnauba wax, and is likely to support market demand positively.
Also, companies are obtaining various certifications such as the halal certificate, kosher certificate, and BSI (British Standards Institution) certification to maintain healthy growth in the carnauba wax market, which is supporting market growth in the North American region.
What is the market scenario in East Asia and South Asia & Oceania Carnauba Wax Market?
The Asia Pacific region comprising South Asia & Pacific and East Asia carnauba wax market holds 9.1% and 33.5% of the overall carnauba wax market in 2024 and holds 42.6% market share together. The South Asia & Pacific and East Asia carnauba wax market is projected to grow at a CAGR of 8.1% and 7% during the forecast period of 2024-2034.
The enhanced rate of adoption of carnauba wax in the food and beverages industry, and escalating demand from cosmetics & personal care products is fueling regional market growth. Furthermore, the demand for ready-to-go food products makes extensive use of emulsifiers, and rising demand in the pharmaceutical industry is boosting the regional market growth.
Category-wise Insights
Which form type holds the dominant market share and is likely to show higher growth in the Carnauba Wax Market over the assessment period?
The carnauba wax under form type is segmented into powder carnauba wax, flakes carnauba wax, and others. The powder carnauba wax holds 25.2% of the carnauba market share in 2024 and is projected to register a CAGR of 7.1% during the forecast years of 2024-2034. Owing to the natural wax being preferred for hardness and having high melting temperature, the wax is used as gelling or hardening agent in multiple products, thereby propelling the growth of the segment in coming years.
Which end-user segment is estimated to support market growth in the Carnauba Wax Market during the forecast period?
Under the end-user segment, the carnauba wax market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, automotive, and others. The personal care segment accounts for 21.1% market share in 2024 and is projected to register a growth of 6.3% CAGR during the forecast years of 2024-2034.
The significance of the segment is explained by the trends in changing lifestyles and the offering of innovative and improved women's personal care products. Manufacturers introducing specific skin and hair products coupled with the promotion of products via advertising and media campaigns are fueling market growth.
Competitive Landscape: Top Companies in Carnauba Wax Market
The global carnauba wax market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations, and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the manufacturing of carnauba wax.
Fact.MR has provided detailed information about the price points of key manufacturers in the carnauba wax market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance :
- Akrochem Corporation in 2021 acquired Bech Chem. This acquisition of a leading chemical supplier will allow for the expansion of the coatings, paints, and lubricants market.
- Lush Retail Ltd. in 2021 announced a partnership with DoorDash, to offer same-day delivery of fresh, handmade products. With this partnership, consumers will have on-demand and convenient access to Lush items
Segmentation of Carnauba Wax Market Research
-
By Form :
- Powder
- Flakes
- Others
-
By Application :
- Polish
- Gelling Agents
- Thickening Agents
- Others
-
By End User :
- Food & Beverages
- Pharmaceuticals
- Personal Care
- Automotive
- Others
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Form 6.2. Application 6.3. End-User 7. Global Market Analysis and Forecast, By Form 7.1. Powder Carnauba Wax 7.2. Flakes Carnauba Wax 7.3. Others 8. Global Market Analysis and Forecast, By Application 8.1. Polish 8.2. Gelling Agent 8.3. Thickening Agent 8.4. Others 9. Global Market Analysis and Forecast, By End-User 9.1. Food and Beverages 9.2. Pharmaceuticals 9.3. Personal Care 9.4. Automotive 9.5. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. East Asia 10.6. South Asia & Pacific 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Form, Application, and End-User for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Strahl & Pitsch, Inc. 20.2. Poth Hille & Co Ltd 20.3. Koster Keunen, LLC. 20.4. Calwax 20.5. Kahl GmbH & CO. KG 20.6. Frank B. Ross Co., Inc. 20.7. Akrochem Corporation 20.8. Lush Retail Ltd. 20.9. Spartan Chemical Company Inc. 20.10. Turtle Wax 20.11. Feast Watson 20.12. Chestnut Products 20.13. Others
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Form
Table 3: Global Market US$ Mn Forecast by Application
Table 4: Global Market US$ Mn Forecast by End-User
Table 5: North America Market US$ Mn Forecast by Country
Table 6: North America Market US$ Mn Forecast by Form
Table 7: North America Market US$ Mn Forecast by Application
Table 8: North America Market US$ Mn Forecast by End-User
Table 9: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Form
Table 11: Latin America Market US$ Mn Forecast by Application
Table 12: Latin America Market US$ Mn Forecast by End-User
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Form
Table 15: Western Europe Market US$ Mn Forecast by Application
Table 16: Western Europe Market US$ Mn Forecast by End-User
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Form
Table 19: Eastern Europe Market US$ Mn Forecast by Application
Table 20: Eastern Europe Market US$ Mn Forecast by End-User
Table 21: East Asia Market US$ Mn Forecast by Country
Table 22: East Asia Market US$ Mn Forecast by Form
Table 23: East Asia Market US$ Mn Forecast by Application
Table 24: East Asia Market US$ Mn Forecast by End-User
Table 25: South Asia & Pacific Market US$ Mn Forecast by Country
Table 26: South Asia & Pacific Market US$ Mn Forecast by Form
Table 27: South Asia & Pacific Market US$ Mn Forecast by Application
Table 28: South Asia & Pacific Market US$ Mn Forecast by End-User
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Form
Table 31: MEA Market US$ Mn Forecast by Application
Table 32: MEA Market US$ Mn Forecast by End-User
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Form
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-User
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the global Carnauba Wax Market scenario?
The global value of the carnauba wax market is estimated to be worth over US$ 320 million in 2024.
How far is the global demand projected to reach over the forecasted period?
The demand is anticipated to surpass US$ 611 million by 2034-end.
At what rate is the demand for carnauba wax evaluated to rise?
Demand for carnauba wax is forecasted to increase at 6.7% CAGR from 2024 to 2034.
Who are the prominent players in the global Carnauba Wax Market?
Some of the prominent market players are Strahl & Pitsch Inc., Poth Hille & Co. Ltd., Koster Keunen, LLC, Akrochem Corporation, and others.
Which is the leading region in the Carnauba Wax Market?
East Asia tops the global carnauba wax market accounting for 33.5% of the global market share in 2024.
Which form type contributes a significant share in Carnauba Wax consumption?
Flakes carnauba wax under the form type is estimated to hold 43.1% of the market share in 2024.
Carnauba Wax Market