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The rising demand for organic products based on sustainably-sourced natural ingredients is expected to drive the growth of the global candelilla wax industry. This is due to the better health-characteristics associated with such products. Candelilla wax is used extensively in the cosmetics and personal care industry to make skin and hair-care products. It is used in the food industry as a glazing agent and as a binder in chewing gums. Several studies also indicate the potential of candelilla wax as an alternative method to make trans-free food products.
In 2018, Kahl Wax, one of the leading producers of candelilla wax and its products, announced its partnership with Ingretech as its exclusive distributor in France and nearby regions. This is an indicator of the increase in demand for candelilla wax products in Europe, and is expected to boost the candelilla wax industry in this region. Kahl Wax also launched a new candelilla wax-based product in 2020 known as KahlBase 4074, designed for use in matte lipsticks and made entirely from natural plant materials and hence expected to serve the vegan and organic-products market.
The growth of the market is also expected to be driven by the steady expansion in the e-commerce industry due to companies such as Amazon.com Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd. (HKG: 9988), which are increasing consumer access to cosmetics, personal care and FMCG products.
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The major players in the global candelilla wax market are Norevo GmbH, Carmel Group, Kahl GmbH & CO. K.G., Koster Keunen, Multiceras S.A. de C.V., and Arjun Beeswax Industries, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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