logo
logo
Sign in

Sugarcane Wax Market Analysis to 2030 | Global Top 10 Companies, Surges in CAGR Rate, Growth Factors, Business Development and Industry Analysis

avatar
marketresearch
Sugarcane Wax Market Analysis to 2030 | Global Top 10 Companies, Surges in CAGR Rate, Growth Factors, Business Development and Industry Analysis

Sugarcane Wax Market was valued at USD 42.8 Million in 2020 and expected to register a CAGR of 3.87% to reach USD 55.7 Million by 2030.

Market Dynamics

The rising demand for sugarcane wax as a preservative in the processing of fruits and vegetables, as well as increased investments in R&D in the pharmaceutical industry, are two major factors driving the worldwide sugarcane wax market forward. Furthermore, throughout the projected period, the growing demand for specialized and premium chocolate goods, as well as increased consumption of gum confectionaries and chocolate products in Asia-rising Pacific's countries, is likely to fuel demand for sugarcane wax. Rapid urbanization, population expansion, changing tastes and preferences, and increased per capita disposable income are all contributing to market expansion in the region's developing economies.

Get Sample Copy @ https://www.marketresearchfuture.com/sample_request/10104

Competitive Analysis

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 a small number of competitors. The market is extremely consolidated, with all firms vying for increasing market share. Sugarcane wax makers compete on price, brand recognition, product quality, and raw material availability. To obtain an advantage over their competitors, the major companies in the sugarcane wax manufacturing industry are expanding their production capabilities and investing in research and development.

 

Furthermore, throughout the study period, the rising pharmaceutical industry, with rising spending on dietary supplements, is likely to drive up demand for sugarcane wax at a significant rate. Furthermore, the rising popularity of organic and natural cosmetics products as a result of increased awareness about the benefits of natural goods is expected to generate lucrative opportunities for market participants throughout the forecast period. During the projected period, rising demand for sugarcane wax as an alternative to candelilla wax, carnauba wax, and chitosan for edible coating of fruits and vegetables is likely to drive up demand. During the projected period, market participants are projected to spend in R&D activities for the development of cost-effective and sustainable sugarcane wax manufacturing technologies, as well as enhancing the economics of recovering and refining the wax. 

Segmental Analysis

Global Sugarcane Wax Market has been segmented on the basis of Application and Region.

On the basis of application, the global market is segmented into pharmaceuticals, food, textile & leather, cosmetics, and others. In 2020, the pharmaceuticals segment had the greatest market share (36.6%) and was worth USD 15.7 million; it is predicted to grow at a CAGR of 3.7 percent over the projected period. The increased knowledge of the health benefits of sugarcane wax extracts, as well as ongoing medical research, are credited with the segment's growth. Furthermore, the lipid-lowering properties of policosanol and octacosanol generated from sugarcane wax extract are frequently used as supplements in animals and humans. Sugarcane wax's fastest-growing application category, however, is cosmetics. The increased demand for natural and bio-based goods in the cosmetics industry is credited to the market's rise.

Regional Analysis

Geographically, the global sugarcane wax market has been divided into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

The European market, with a value of USD 15.2 million, had the biggest proportion of them, accounting for almost 35%. During the projection period, the regional market is expected to grow at a CAGR of 2.8 percent. More than half of Europe's sugarcane wax market was accounted for by Germany and the United Kingdom. The presence of an established pharmaceutical sector, a growing elderly population, and an increase in the number of persons with cardiovascular disorders are likely to fuel market expansion in Europe. The presence of chocolates, pharmaceuticals, and personal care and cosmetics sectors in the area market has contributed to its rise.

During the projected period, the sugarcane wax market in Asia-Pacific is predicted to grow at the fastest rate of 5.18 percent. Increased disposable income, a changing lifestyle, increased usage of dietary supplements, and the growing popularity of organic and natural cosmetics and personal care products are all contributing to the region's rise.

 

Access Report Details @ https://www.marketresearchfuture.com/reports/sugarcane-wax-market-10104

About Market Research Future:

Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

We at MRFR provide syndicated and customized reports to clients as per their liking. Our consulting services are aimed at eliminating business risks and driving the bottomline margins of our clients. The hands-on experience of analysts and capability of performing astute research through interviews, surveys, and polls are a statement of our prowess. We constantly monitor the market for any fluctuations and update our reports on a regular basis.

Contact Us:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US) 

+44 2035 002 764(UK)

 

Email: [email protected]

Website: https://www.marketresearchfuture.com

Read More

 

https://www.marketresearchfuture.com/reports/organic-matting-agent-market-4391

collect
0
avatar
marketresearch
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more