Global Vegan Waxes Market, By Type (Carnauba Wax, Berry Wax, Myrica Fruit Wax, Rice Bran Wax), End-Use Industry (Pharmaceuticals, Cosmetics and Personal Care, Food, Textile Industry), Form (Flakes, Pellets, Powder), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Vegan Waxes Market Analysis and Insights
Vegan waxes market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to reach at an estimated value of USD 1.08 billion and grow at a CAGR of 10.20% in the above-mentioned forecast period. Rising demand from the various products such as lipsticks, lip balms, foundations, mascaras, and hair wax drives the vegan waxes market.
Natural waxes generally belong to the bigger group of lipids and they are a blend of hydrocarbons and fatty esters. These vegan waxes are derived from peels, leaves, and fruits of different plants or are separated from plant oils by de-waxing. The vegan wax market is organized with organic products and also helps in providing more advantages to the consumers as it is cruelty-free and provides no harm to the skin as other waxes are responsible for harming the skin of animals or the humans.
Rising vegan wax consumption in the medical industry and cosmetics for reducing stretch marks and wrinkles is a vital factor escalating the market growth, also rising consumption of personal care, increase in disposable income, rising youth who are focussing more on the personal grooming factor, personal care, and cosmetic products and rising demand from the end-user industries such as pharmaceuticals and textiles, are the major factors among others driving the vegan waxes market briskly. Moreover, increasing research and development activities in the market and rising demand from the emerging economies will further create new opportunities for the vegan waxes market in the forecast period of 2021- 2028.
However, rising availability of alternate products such as carnauba wax and beeswax is the major factors among others acting as restraints, and will further challenge the vegan waxes market in the forecast period.
Vegan waxes market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vegan waxes market contact Data bridge market research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Vegan Waxes Market Scope and Market Size
Vegan waxes market is segmented on the basis of type, end-use industry and form. The growth among various segments helps in the better analyzation of growth and strategies for better vision of market.
- On the basis of type, vegan waxes market is segmented into carnauba wax, berry wax, myrica fruit wax and rice bran wax.
- Based on end-use industry, the vegan waxes market is segmented into pharmaceuticals, cosmetics and personal care, food and textile industry.
- The vegan waxes market is also segmented on the basis of form into flakes, pellets and powder.
Vegan Waxes Market Country Level Analysis
Vegan waxes market is analysed and market size insights and trends are provided by country, type, end-use industry and form as referenced above.
The countries covered in vegan waxes market are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).
North America and Europe dominates the vegan waxes market due to increasing concerns about animal cruelty in the food industry and the negative impacts of meat and dairy consumption on the environment, rising consumption of personal care and increase in the disposable income in these regions. Asia-Pacific is the expected region in terms of growth in vegan waxes market due to rising awareness of animal rights, growing disposable incomes, and changing lifestyles in this regions.
The country section of the vegan waxes market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Vegan Waxes Market Share Analysis
Vegan waxes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vegan waxes market.
The major players covered in the vegan waxes market report are CALWAX, Akrochem Corporation, Strahl & Pitsch, Inc, NOREVO, Brenntag AG, FalconPro Industries, KahlWax, Poth Hille, AF Suter & Co Ltd, Spectrum Chemical Manufacturing Corp., Paramold Manufacturing LLC, The International Group, Inc., Hase Petroleum Wax Co., Parchem fine & specialty chemicals, Shri Ram Sons Wax Private Limited, Merck KGaA, Waxoils and AADRA INTERNATIONAL other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analyst understands competitive strengths and provides competitive analysis for each competitor separately.
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