Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Soy Wax Market by Type (Pure Soy Wax, Blend Soy Wax), By Application (Candle, Cosmetics) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Soy Wax Market by Type (Pure Soy Wax, Blend Soy Wax), By Application (Candle, Cosmetics) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 137830 3300 Chemical & Material 377 239 Pages 4.7 (44)

Market Overview:

The global soy wax market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for natural and sustainable products, rising awareness about the benefits of soy wax, and growing popularity of candles and cosmetics made with soy wax. The global soy wax market is segmented by type, application, and region. By type, the market is divided into pure soy wax and blend soy wax. By application, it is classified into candles and cosmetics. Geographically, it is analyzed across North America (U.S., Canada), Latin America (Mexico), Europe (Germany, U.K., France), Asia Pacific (China Japan India) Middle East & Africa(South Africa).

Global Soy Wax Industry Outlook

Product Definition:

Soy wax is a natural, renewable resource that is made from the oil of soybeans. It is a clean burning, eco-friendly alternative to paraffin wax. Soy wax can be used to make candles, lip balm and other skin care products.

Pure Soy Wax:

Soy wax is a natural wax extracted from soybean. It has high melting point and low molecular weight which makes it different from paraffin, palm, and other mineral oils. Soy waxes are used in various applications including cosmetics & personal care products, food & beverages packaging materials (chocolate coatings), automotive polishes and paints.

Blend Soy Wax:

Blend soy wax is a combination of both polyunsaturated and monounsaturated soy wax. It has similar properties as that of paraffin wax, but with better acceptance from the fragrance industry. The product was first produced in 2000 by Kao Chemicals Co., Ltd., Japan, under the trade name “KAWA” for its application in cosmetics and food industries.

The product name comes from its blending ratio (50%/50%).

Application Insights:

Candle application segment led the global market and accounted for more than 60.0% share of the total revenue in 2017. The product is widely used in manufacturing candles as it has a high burn rate, low melting point, and high vapor pressure which makes it ideal for candle making applications. Moreover, increasing demand for soy wax candles from various end-use industries including home decor & cosmetics is expected to drive growth over the forecast period.

The home dĩcor industry especially in North America and Europe has been growing significantly over the past few years owing to changing consumer lifestyle along with rising awareness regarding beauty products usage at home or personal space. This trend is expected to expand opportunities for soy wax based products like lip balm, decorative items (candles), etc., which will further fuel market growth during the forecast period.

Regional Analysis:

Asia Pacific dominated the global market in 2017 and accounted for over 45% of the total revenue share. The region is expected to witness significant growth in terms of consumption over the forecast period owing to rapid industrialization, growing population, and increasing per capita income levels.

China is one of the largest consumers as well as producers globally. It exports most of its product to countries such as Japan, South Korea, Hong Kong, Singapore & Malaysia etc., whereas it imports products from Canada & U.S., Australia & New Zealand among others.

Growth Factors:

  • Increasing demand for natural and sustainable products: The growth of the soy wax market can be attributed to the increasing demand for natural and sustainable products. Soy wax is a renewable resource that is made from soybeans, which are a naturally occurring crop. This makes soy wax a more environmentally friendly option than other types of waxes.
  • Rising popularity of candlemaking as a hobby: Another key driver of the soy wax market is the rising popularity of candlemaking as a hobby. Candlemaking is an easy and affordable way to create custom candles with unique scents and colors. Soy wax is popular among candlemakers because it burns cleanly and does not produce soot or smoke like some other types of Waxes .

Scope Of The Report

Report Attributes

Report Details

Report Title

Soy Wax Market Research Report

By Type

Pure Soy Wax, Blend Soy Wax

By Application

Candle, Cosmetics

By Companies

Golden Brands, CJ Robinson, Kerax, HCI, IGI Wax, BASF, SRS, EcoSoya, NatureWax

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Soy Wax Market Report Segments:

The global Soy Wax market is segmented on the basis of:


Pure Soy Wax, Blend Soy Wax

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Candle, Cosmetics

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Golden Brands
  2. CJ Robinson
  3. Kerax
  4. HCI
  5. IGI Wax
  6. BASF
  7. SRS
  8. EcoSoya
  9. NatureWax

Global Soy Wax Market Overview

Highlights of The Soy Wax Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Pure Soy Wax
    2. Blend Soy Wax
  1. By Application:

    1. Candle
    2. Cosmetics
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Soy Wax Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Soy Wax Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Soy wax is a type of wax made from soybeans. It is often used in candles and other products because it has a high melting point and low moisture content, which makes it difficult for bacteria to grow. Soy wax also has a strong scent, which some people find unpleasant.

Some of the major players in the soy wax market are Golden Brands, CJ Robinson, Kerax, HCI, IGI Wax, BASF, SRS, EcoSoya, NatureWax.

The soy wax market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Soy Wax Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Soy Wax Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Soy Wax Market - Supply Chain
   4.5. Global Soy Wax Market Forecast
      4.5.1. Soy Wax Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Soy Wax Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Soy Wax Market Absolute $ Opportunity

5. Global Soy Wax Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Soy Wax Market Size and Volume Forecast by Type
      5.3.1. Pure Soy Wax
      5.3.2. Blend Soy Wax
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Soy Wax Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Soy Wax Market Size and Volume Forecast by Application
      6.3.1. Candle
      6.3.2. Cosmetics
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Soy Wax Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Soy Wax Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Soy Wax Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Soy Wax Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Soy Wax Demand Share Forecast, 2019-2029

9. North America Soy Wax Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Soy Wax Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Soy Wax Market Size and Volume Forecast by Application
      9.4.1. Candle
      9.4.2. Cosmetics
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Soy Wax Market Size and Volume Forecast by Type
      9.7.1. Pure Soy Wax
      9.7.2. Blend Soy Wax
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Soy Wax Demand Share Forecast, 2019-2029

10. Latin America Soy Wax Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Soy Wax Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Soy Wax Market Size and Volume Forecast by Application
      10.4.1. Candle
      10.4.2. Cosmetics
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Soy Wax Market Size and Volume Forecast by Type
      10.7.1. Pure Soy Wax
      10.7.2. Blend Soy Wax
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Soy Wax Demand Share Forecast, 2019-2029

11. Europe Soy Wax Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Soy Wax Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Soy Wax Market Size and Volume Forecast by Application
      11.4.1. Candle
      11.4.2. Cosmetics
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Soy Wax Market Size and Volume Forecast by Type
      11.7.1. Pure Soy Wax
      11.7.2. Blend Soy Wax
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Soy Wax Demand Share, 2019-2029

12. Asia Pacific Soy Wax Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Soy Wax Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Soy Wax Market Size and Volume Forecast by Application
      12.4.1. Candle
      12.4.2. Cosmetics
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Soy Wax Market Size and Volume Forecast by Type
      12.7.1. Pure Soy Wax
      12.7.2. Blend Soy Wax
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Soy Wax Demand Share, 2019-2029

13. Middle East & Africa Soy Wax Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Soy Wax Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Soy Wax Market Size and Volume Forecast by Application
      13.4.1. Candle
      13.4.2. Cosmetics
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Soy Wax Market Size and Volume Forecast by Type
      13.7.1. Pure Soy Wax
      13.7.2. Blend Soy Wax
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Soy Wax Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Soy Wax Market: Market Share Analysis
   14.2. Soy Wax Distributors and Customers
   14.3. Soy Wax Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Golden Brands Overview Financials Developments Strategic Outlook
      14.4.2. CJ Robinson Overview Financials Developments Strategic Outlook
      14.4.3. Kerax Overview Financials Developments Strategic Outlook
      14.4.4. HCI Overview Financials Developments Strategic Outlook
      14.4.5. IGI Wax Overview Financials Developments Strategic Outlook
      14.4.6. BASF Overview Financials Developments Strategic Outlook
      14.4.7. SRS Overview Financials Developments Strategic Outlook
      14.4.8. EcoSoya Overview Financials Developments Strategic Outlook
      14.4.9. NatureWax Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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