Sugarcane Wax Market Research Report - Forecast till 2027

Sugarcane Wax Market: Information by Application (Pharmaceuticals, Food, Cosmetics, Textile & Leather and Others) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/8626-CR | July, 2020 | Region : Global

Sugarcane Wax Market Overview


Sugarcane Wax Market was valued at USD 42.8 Million in 2018 and expected to register a CAGR of 3.87% to reach USD 55.7 Million by 2025.


Sugarcane wax occurs as a thin layer on the outside of the stem of the sugarcane and is obtained as a by-product obtained while manufacturing sugarcane products. It is available in several colors, including hard green, brown, and tan solid. It is widely used in pharmaceuticals, vegetable & fruit processing, chocolate products, cosmetics, and polishing materials.


Key Players


The Prominent Players in the Global Sugarcane Wax Market are DEUREX AG (Germany), CERAX (South Africa), Origen chemicals (South Africa), Huzhou Shengtao Biotech LLC (China), and Godavari Biorefineries (India).


The Global Sugarcane Wax Market is characterized by the presence of a limited number of players. The market is highly consolidated, with all the players competing to gain larger market shares. The key manufacturers of sugarcane wax compete based on cost, brand identity, product quality, and availability of raw materials. The key players engaged in the manufacturing of sugarcane wax are expanding their production capacities and investing in research & development activities to gain an advantage over their competitors.


Market Dynamics


The prominent factors driving the growth of the global sugarcane wax market include the rising demand for sugarcane wax as a preservative in the processing of fruits and vegetables and increasing investments in R&D in the pharmaceutical industry. Furthermore, the growing demand for specialty and premium chocolate products along with increased consumption of gum confectionaries and chocolate products in the developing economies of Asia-Pacific is also expected to fuel the demand for sugarcane wax during the forecast period. The socio-economic factors such as rapid urbanization; expanding populace; changing taste and preferences; and rising per capita disposable income are propelling the market growth in developing economies of the region.


Sugarcane wax is used as a pharmaceutical excipient. Moreover, it contains about 60% octacosanol, which helps in decreasing cholesterol and triglyceride levels. The increasing per capita disposable income, changing lifestyle, and the rising health awareness among consumers have resulted in substantial spending on dietary supplements in emerging economies of Asia-Pacific, such as China, India, and the ASEAN countries. The market growth in North America and Europe is expected to be driven by the presence of the established pharmaceutical industry, rising geriatric population, and an increase in the number of people with cardiovascular diseases.


Sugarcane Wax Market Revenue, by Application (USD Thousand)
Sugarcane Wax Market


Sources: MRFR Analysis


Segmentation


Based on application, the global sugarcane wax market is segmented into pharmaceuticals, food, textile & leather, cosmetics, and others. The pharmaceuticals segment accounted for the largest market share of 36.6% in 2018, with a market value of USD 15.7 million; it is expected to register a CAGR of 3.7% during the forecast period. However, the cosmetics segment is expected to be the fastest-growing application segment, primarily due to the increasing R&D activities by manufacturers.


Global Sugarcane Wax Market Share, by Region, 2018 (%)
Sugarcane Wax Market


Sources: MRFR Analysis


Regional Analysis


Geographically, the global sugarcane wax market has been divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, the European market held the largest share of over 35%, with a value of USD 15.2 million. The regional market is projected to register a CAGR of 2.8% during the forecast period. Germany and the UK accounted for more than half of the sugarcane wax market in Europe. The market growth in Europe is expected to be driven by the presence of the established pharmaceutical industry, rising geriatric population, and an increase in the number of people with cardiovascular diseases. The sugarcane wax market in Asia-Pacific is expected to register the highest CAGR of 5.18% during the forecast period. The growth in the region is attributed to increasing disposable income, changing lifestyle, the increasing use of dietary supplements, and the growing popularity of organic and natural cosmetic & personal care products.


Market Segmentation


Global Sugarcane Wax Market, by Application



  • Pharmaceuticals

  • Food

  • Cosmetics

  • Textile & Leather

  • Others


Global Sugarcane Wax Market, by Region



  • North America

    • US

    • Canada





  • Europe

    • Germany

    • UK

    • Russia

    • France

    • Italy

    • Spain

    • Rest of Europe





  • Asia-Pacific

    • China

    • Japan

    • India

    • ASEAN

    • Rest of Asia-Pacific





  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Rest of South America





  • Middle East & Africa

    • GCC

    • South Africa

    • Turkey

    • Rest of Middle East & Africa




Intended Audience



  • Sugarcane Wax manufacturers

  • Sugar Manufacturers

  • Retailers, distributors, and wholesalers

  • Governments, associations, and industrial bodies

  • Investors and trade experts

1 EXECUTIVE SUMMARY

1.1 MARKET ATTRACTIVENESS ANALYSIS 13

1.1.1 GLOBAL SUGARCANE WAX MARKET, BY APPLICATION 13

1.1.2 GLOBAL SUGARCANE WAX MARKET, BY REGION 14

2 MARKET INTRODUCTION

2.1 DEFINITION 15

2.2 SCOPE OF THE STUDY 15

2.3 MARKET STRUCTURE 15

3 RESEARCH METHODOLOGY

3.1 RESEARCH PROCESS 16

3.2 PRIMARY RESEARCH 17

3.3 SECONDARY RESEARCH 18

3.4 MARKET SIZE ESTIMATION 18

3.5 TOP-DOWN AND BOTTOM-UP APPROACH 19

3.6 FORECAST MODEL 20

3.7 LIST OF ASSUMPTIONS 21

4 MARKET DYNAMICS

4.1 INTRODUCTION 22

4.2 DRIVERS 23

4.2.1 WIDESPREAD USE IN THE FOOD INDUSTRY 23

4.2.2 HIGH DEMAND IN THE PHARMACEUTICAL INDUSTRY 23

4.3 RESTRAINTS 24

4.3.1 LOW OUTPUT AND PROFIT MARGIN 24

4.4 OPPORTUNITIES 25

4.4.1 R&D ACTIVITIES AND THE EXPANSION OF SUGARCANE WAX PRODUCTION 25

4.4.2 GROWING DEMAND FOR ORGANIC COSMETICS IN DEVELOPING ECONOMIES 25

4.5 TRENDS 26

4.5.1 GROWING PREFERENCE FOR SUGARCANE WAX OVER CARNAUBA WAX 26

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS 27

5.1.1 RAW MATERIALS SUPPLIERS 27

5.1.2 SUGARCANE WAX MANUFACTURERS 28

5.1.3 DISTRIBUTION CHANNELS 28

5.1.4 APPLICATION 28

5.2 PORTER’S FIVE FORCES MODEL 29

5.2.1 THREAT OF NEW ENTRANTS 29

5.2.2 BARGAINING POWER OF SUPPLIERS 29

5.2.3 THREAT OF SUBSTITUTES 30

5.2.4 BARGAINING POWER OF BUYERS 30

5.2.5 RIVALRY 30

5.3 IMPACT OF COVID-19 ON GLOBAL SUGARCANE WAX MARKET 30

6 GLOBAL SUGARCANE WAX MARKET, BY APPLICATION

6.1 INTRODUCTION 32

6.2 PHARMACEUTICALS 34

6.3 FOOD 35

6.4 TEXTILE & LEATHER 36

6.5 COSMETICS 37

6.6 OTHER 38

7 GLOBAL SUGARCANE WAX MARKET, BY REGION

7.1 INTRODUCTION 39

7.2 NORTH AMERICA 41

7.2.1 US 42

7.2.2 CANADA 43

7.3 EUROPE 45

7.3.1 GERMANY 47

7.3.2 ITALY 48

7.3.3 UK 49

7.3.4 SPAIN 50

7.3.5 FRANCE 51

7.3.6 RUSSIA 52

7.3.7 REST OF EUROPE 53

7.4 ASIA-PACIFIC 54

7.4.1 CHINA 56

7.4.2 INDIA 57

7.4.3 JAPAN 58

7.4.4 ASEAN 59

7.4.5 REST OF ASIA-PACIFIC 60

7.5 LATIN AMERICA 61

7.5.1 BRAZIL 63

7.5.2 MEXICO 64

7.5.3 ARGENTINA 65

7.5.4 REST OF LATIN AMERICA 66

7.6 MIDDLE EAST & AFRICA 67

7.6.1 GCC 69

7.6.2 SOUTH AFRICA 70

7.6.3 TURKEY 71

7.6.4 REST OF MIDDLE EAST & AFRICA 72

8 COMPETITIVE LANDSCAPE

8.1 COMPETITIVE OVERVIEW 73

8.2 MARKET STRATEGY ANALYSIS 73

8.3 COMPETITIVE BENCHMARKING 74

9 COMPANY PROFILES

9.1 DEUREX AG 75

9.1.1 COMPANY OVERVIEW 75

9.1.2 FINANCIAL OVERVIEW 75

9.1.3 PRODUCTS OFFERED 75

9.1.4 KEY DEVELOPMENTS 76

9.1.5 SWOT ANALYSIS 76

9.1.6 KEY STRATEGIES 76

9.2 CERAX 77

9.2.1 COMPANY OVERVIEW 77

9.2.2 FINANCIAL OVERVIEW 77

9.2.3 PRODUCTS OFFERED 77

9.2.4 KEY DEVELOPMENTS 77

9.2.5 SWOT ANALYSIS 78

9.2.6 KEY STRATEGIES 78

9.3 ORIGEN CHEMICALS 79

9.3.1 COMPANY OVERVIEW 79

9.3.2 FINANCIAL OVERVIEW 79

9.3.3 PRODUCTS OFFERED 79

9.3.4 KEY DEVELOPMENTS 79

9.3.5 SWOT ANALYSIS 80

9.3.6 KEY STRATEGIES 80

9.4 HUZHOU SHENGTAO BIOTECH LLC 81

9.4.1 COMPANY OVERVIEW 81

9.4.2 FINANCIAL OVERVIEW 81

9.4.3 PRODUCTS OFFERED 81

9.4.4 KEY DEVELOPMENTS 81

9.4.5 SWOT ANALYSIS 82

9.4.6 KEY STRATEGIES 82

9.5 GODAVARI BIOREFINERIES 83

9.5.1 COMPANY OVERVIEW 83

9.5.2 FINANCIAL OVERVIEW 83

9.5.3 PRODUCTS OFFERED 84

9.5.4 KEY DEVELOPMENTS 84

9.5.5 SWOT ANALYSIS 84

9.5.6 KEY STRATEGIES 84

10 LIST OF TABLES

TABLE 1 LIST OF ASSUMPTIONS 21

TABLE 2 LIST OF SUGAR PROCESSING COMPANIES 27

TABLE 3 GLOBAL SUGARCANE WAX, BY APPLICATION, 2020-2027 (USD THOUSAND) 32

TABLE 4 GLOBAL SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 33

TABLE 5 GLOBAL SUGARCANE WAX MARKET FOR PHARMACEUTICALS, BY REGION, 2020-2027 (USD THOUSAND) 34

TABLE 6 GLOBAL SUGARCANE WAX MARKET FOR PHARMACEUTICALS, BY REGION, 2020-2027 (TONS) 34

TABLE 7 GLOBAL SUGARCANE WAX MARKET FOR FOOD, BY REGION, 2020-2027 (USD THOUSAND) 35

TABLE 8 GLOBAL SUGARCANE WAX MARKET FOR FOOD, BY REGION, 2020-2027 (TONS) 35

TABLE 9 GLOBAL SUGARCANE WAX MARKET FOR TEXTILE & LEATHER, BY REGION, 2020-2027 (USD THOUSAND) 36

TABLE 10 GLOBAL SUGARCANE WAX MARKET FOR TEXTILE & LEATHER, BY REGION, 2020-2027 (TONS) 36

TABLE 11 GLOBAL SUGARCANE WAX MARKET FOR COSMETICS, BY REGION, 2020-2027 (USD THOUSAND) 37

TABLE 12 GLOBAL SUGARCANE WAX MARKET FOR COSMETICS, BY REGION, 2020-2027 (TONS) 37

TABLE 13 GLOBAL SUGARCANE WAX MARKET FOR OTHER, BY REGION, 2020-2027 (USD THOUSAND) 38

TABLE 14 GLOBAL SUGARCANE WAX MARKET FOR OTHER, BY REGION, 2020-2027 (TONS) 38

TABLE 15 GLOBAL SUGARCANE WAX MARKET, BY REGION, 2020-2027 (USD THOUSAND) 39

TABLE 16 GLOBAL SUGARCANE WAX MARKET, BY REGION, 2020-2027 (TONS) 40

TABLE 17 NORTH AMERICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (USD THOUSAND) 41

TABLE 18 NORTH AMERICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (TONS) 41

TABLE 19 NORTH AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 41

TABLE 20 NORTH AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 42

TABLE 21 US SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 42

TABLE 22 US SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 43

TABLE 23 CANADA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 43

TABLE 24 CANADA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 44

TABLE 25 EUROPE SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (USD THOUSAND) 45

TABLE 26 EUROPE SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (TONS) 45

TABLE 27 EUROPE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 46

TABLE 28 EUROPE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 46

TABLE 29 GERMANY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 47

TABLE 30 GERMANY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 47

TABLE 31 ITALY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 48

TABLE 32 ITALY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 48

TABLE 33 UK SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 49

TABLE 34 UK SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 49

TABLE 35 SPAIN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 50

TABLE 36 SPAIN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 50

TABLE 37 FRANCE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 51

TABLE 38 FRANCE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 51

TABLE 39 RUSSIA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 52

TABLE 40 RUSSIA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 52

TABLE 41 REST OF EUROPE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 53

TABLE 42 REST OF EUROPE SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 53

TABLE 43 ASIA-PACIFIC SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (USD THOUSAND) 54

TABLE 44 ASIA-PACIFIC SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (TONS) 54

TABLE 45 ASIA-PACIFIC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 55

TABLE 46 ASIA-PACIFIC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 55

TABLE 47 CHINA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 56

TABLE 48 CHINA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 56

TABLE 49 INDIA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 57

TABLE 50 INDIA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 57

TABLE 51 JAPAN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 58

TABLE 52 JAPAN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 58

TABLE 53 ASEAN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 59

TABLE 54 ASEAN SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 59

TABLE 55 REST OF ASIA-PACIFIC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 60

TABLE 56 REST OF ASIA-PACIFIC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 60

TABLE 57 LATIN AMERICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (USD THOUSAND) 61

TABLE 58 LATIN AMERICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (TONS) 61

TABLE 59 LATIN AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 62

TABLE 60 LATIN AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 62

TABLE 61 BRAZIL SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 63

TABLE 62 BRAZIL SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 63

TABLE 63 MEXICO SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 64

TABLE 64 MEXICO SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 64

TABLE 65 ARGENTINA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 65

TABLE 66 ARGENTINA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 65

TABLE 67 REST OF LATIN AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 66

TABLE 68 REST OF LATIN AMERICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 66

TABLE 69 MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (USD THOUSAND) 67

TABLE 70 MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY COUNTRY, 2020-2027 (TONS) 67

TABLE 71 MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 68

TABLE 72 MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 68

TABLE 73 GCC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 69

TABLE 74 GCC SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 69

TABLE 75 SOUTH AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 70

TABLE 76 SOUTH AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 70

TABLE 77 TURKEY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 71

TABLE 78 TURKEY SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 71

TABLE 79 REST OF MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 72

TABLE 80 REST OF MIDDLE EAST & AFRICA SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 72

TABLE 81 DEUREX AG: PRODUCTS OFFERED 75

TABLE 82 DEUREX AG: KEY DEVELOPMENTS 76

TABLE 83 CERAX: PRODUCTS OFFERED 77

TABLE 84 ORIGEN CHEMICALS: PRODUCTS OFFERED 79

TABLE 85 HUZHOU SHENGTAO BIOTECH LLC: PRODUCTS OFFERED 81

TABLE 86 GODAVARI BIOREFINERIES: PRODUCTS OFFERED 84

11 LIST OF FIGURES

FIGURE 1 MARKET SYNOPSIS 12

FIGURE 2 MARKET ATTRACTIVENESS ANALYSIS: GLOBAL SUGARCANE WAX MARKET, 2020 13

FIGURE 3 GLOBAL SUGARCANE WAX MARKET ANALYSIS BY APPLICATION 13

FIGURE 4 GLOBAL SUGARCANE WAX MARKET ANALYSIS BY REGION 14

FIGURE 5 GLOBAL SUGARCANE WAX MARKET: MARKET STRUCTURE 15

FIGURE 6 RESEARCH PROCESS OF MRFR 16

FIGURE 7 MARKET DYNAMICS OVERVIEW: GLOBAL SUGARCANE WAX MARKET 22

FIGURE 8 DRIVERS IMPACT ANALYSIS 24

FIGURE 9 RESTRAINTS IMPACT ANALYSIS 24

FIGURE 10 SUPPLY CHAIN: GLOBAL SUGARCANE WAX MARKET 27

FIGURE 11 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL SUGARCANE WAX MARKET 29

FIGURE 12 GLOBAL UNCERTAINTY AROUND PANDEMICS 31

FIGURE 13 GLOBAL SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (USD THOUSAND) 32

FIGURE 14 GLOBAL SUGARCANE WAX MARKET, BY APPLICATION, 2020-2027 (TONS) 33

FIGURE 15 GLOBAL SUGARCANE WAX MARKET BY REGION, 2020-2027 (USD THOUSAND) 39

FIGURE 16 GLOBAL SUGARCANE WAX MARKET BY REGION, 2020-2027 (TONS) 40

FIGURE 17 BENCHMARKING OF MAJOR COMPETITORS 74

FIGURE 18 DEUREX AG: SWOT ANALYSIS 76

FIGURE 19 CERAX: SWOT ANALYSIS 78

FIGURE 20 ORIGEN CHEMICALS: SWOT ANALYSIS 80

FIGURE 21 HUZHOU SHENGTAO BIOTECH LLC: SWOT ANALYSIS 82

FIGURE 22 GODAVARI BIOREFINERIES: FINANCIAL OVERVIEW SNAPSHOT 83

FIGURE 23 GODAVARI BIOREFINERIES: SWOT ANALYSIS 84

Sugarcane Wax Market