Carnauba wax has wide applications in pharmaceutical industry for pills coating owing to its hypo allergic nature and easy swallow-ability. Moreover, the distinctive properties like glossy look and high melting point makes it more suitable and desired as natural additive choice. As a result higher cosmetic industry manufacturers adopt it for manufacturing lipsticks, mascaras, lip balms among others. Hence, broad spectrum applicability has favored the market growth of carnauba wax. Extensive use in automobile as polish wax industry is backed by its characteristics like hardness and viscosity modifier. However, the factors that may deter the market growth is presence of tropical variety of carnauba wax as it has side effects including contact dermatitis, inflammation of hair follicle and skin rash. Along with it, owing less commercialization, the market offers less profitability margin to the manufacturers.
Get more insights at: Global Carnauba Wax Market 2019-2025
The increasing working population and fast-paced lifestyle demands for on-the-go food products which has en the adoption of carnauba wax as it’s used as food emulsifiers. Food & beverage industry is continuously evolving with various innovations and breakthrough, products such as carnauba wax displays exceptional emulsifying properties and binding capacity for oils, are gaining popularity. Along with that carnauba wax market trends has climbed up as growing inclination of customers towards naturally-derived products is bolstering the carnauba wax market.
Geographically, regions that dominate the global carnauba wax market are Latin America, North America, Asia-Pacific excluding Japan (APEJ), Western Europe, Eastern Europe and the Middle East & Africa. Industrial development, growing demand for cosmetic and personal products, adoption rate in the food and beverage industry along with higher urbanization has contributed to the driving growth of carnauba wax market.
The global carnauba wax market share in APEJ and Latin America is robust owing to the suitable climatic condition for palm trees. North America and Eastern European regions invest highly in import of carnauba wax. North America followed by Europe is anticipated to display an upward growth graph during the assessment period, backed by personal care and automobile industry. Whereas countries like Indonesia, India, China and Brazil in Latin America dominate in carnauba wax production. Latin America leads in growing carnauba wax and they owe the largest reserve of carnauba wax which will further drive the market growth.
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Global carnauba wax market is widely scattered, its applications include manufacturing of coated chocolates, chewing gums, lipsticks, lip balms, and dental floss, due to its stabilizing and glossy characteristics. Moreover, it inherits property hardness which makes it possible to use as polish wax for car, surf board and furniture. Based on the end-use, the market is segmented into Food & Beverages, Personal Care, Automobiles, Pharmaceutical and Others. Based on source, carnauba wax market has two segmentation which is inclusive of Natural and Organic. While, based on form, the market is divide into Powder, Pellet and Flakes.
Some of the prominent players identified in the global carnauba wax market includes Poth Hille & Co Ltd, Koster Keunen, LLC., Kahl GmbH & CO. KG, Akrochem Corporation, Strahl & Pitsch, Inc., Tropical Ceras do Brasil Ltda., Brasil Ceras, Micro Powders, Inc., PARAMELT, AMEDEO BRASCA, Kerax Limited, FONCEPI, Kerax Limited, Calwax and Frank B. Ross Co., Inc.
What to expect from the upcoming report on ‘Global Carnauba Wax Market:
– Future prospects and current trends of the global carnauba wax market by the end of forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing economies
– Supportive initiatives by government likely to influence the market dynamics
– Trends, drivers, opportunities, restraints, challenges and key developments in the market
– In-depth analysis of different market segmentations including regional segmentations, and product types
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
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