Bayberry wax is a type of aromatic wax which is extracted from the surface of the bayberry fruit by boiling it in water and skimming the wax from the surface. It is primarily composed of the esters of myristic, lauric, and palmitic acid. It has a resinous fragrance which is used in various products like scented candles and cosmetic products among others. Bayberry wax is used in applications for skin care, hair care, and candle wax owing to its compatibility with all vegetable, animal and mineral waxes and fatty acids and a range of natural and synthetic resins. It can be used in combination with a range of raw materials and can also be used in replacement for cocoa or shea butter owing to its superior stabilization properties.
Bayberry Wax Market Outlook
- The consumption of bayberry wax has been witnessing a surge in the recent years. This is in line with the growing demand for the key end products like personal care and cosmetics, thus covering a wide range including most consumer goods. This is indicative of the diversity of the product and is a key factor driving its growth.
- Growing consumer interest in products with natural ingredients as well as awareness about its health benefits would drive growth in the market. Likewise, a growing body of evidence suggests the harmful effects of chemicals widely present in a large number of regular use products has on the body. This has driven consumers to opt for products with natural alternatives like bayberry wax.
Bayberry Wax Market Regional Highlights
- Growing disposable income in the emerging regions of Asia Pacific and Latin America on the back of an economic recovery would bring hitherto unaffordable products within reach. These include a range of premium personal care items which use bayberry wax. This would lead to the region witnessing the fastest growth over the forecast period from 2020 to 2026 among its global peers with regard to the value of bayberry wax consumed.
- Further, North America followed by Europe dominate the market currently in 2019 owing to the favorable economic and demographic conditions. The consumers in the region have a wider know-how about the latest products on the market and are generally more open to try out newer products which has resulted in the region dominating the market in 2019.
Bayberry Wax Market Segmental Overview
- Bayberry wax can be used as a functional ingredient in hair styling products which provides a medium hold to the hairstyle. It can also be used as a hair conditioning ingredient.
- Personal care and cosmetics are one of the largest user’s bayberry wax owing to the high demand for natural and clean label ingredients in all products. Bayberry wax is also vegan in nature hence catering to an emerging consumer segment which prefers vegan ingredients.
Bayberry Wax Market Key Players
The major companies operating in the bayberry wax market include All Ingredients Plus, Frank B. Ross Co, KahlWax, Koster Keunen, Paramold Manufacturing LLC, Spectrum Chemical Manufacturing Corp, Strahl & Pitsch, Inc, and The Candlewic Company among others.
The key players in the bayberry wax market are keeping their ears to the ground so as to not miss out on any upcoming market developments. Keeping a pulse of the rapidly changing consumer behavior would benefit the makers and would enable them to stay ahead of the curve to obtain a competitive edge in a dynamic market. In this regard, new product development and adopting sustainable manufacturing practices is a leading strategy being adopted by the manufacturers given its nature. Product innovation through constant research and development into the applications of bayberry wax would be another factor driving business decisions of the key players over the forecast period.
- Bayberry wax is an aromatic wax which is extracted from the surface of the bayberry fruit by boiling it in water and skimming the wax from the surface. It is primarily composed of the esters of myristic, lauric, and palmitic acid. It has a resinous fragrance which is used in various products like scented candles and cosmetic products. Bayberry wax works as an emollient, thickener, film former, and viscosity agent. The growing preference for natural ingredients is among the reasons for the growing use of bayberry wax in its various applications.
- Functional ingredients, specialty additives, and active ingredients are the key types of bayberry wax. Cosmetics, personal care, and candles are among the major applications of bayberry wax.
- The geographic study of the market has been done on the basis of data of key countries of the major regions North America, Europe, Asia Pacific, and Rest of the World. Rest of the World comprises Latin America and Middle East and Africa.
Why to buy this report:
- The report offers changing market dynamics in the bayberry wax market, presenting historical, current and projected market size in terms of value (USD million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of bayberry wax market
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the bayberry wax market performance
- The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of bayberry wax market