Rising Industrial Use Boosts Carnauba Wax Market Growth

Thu, 08 May 2025 06:09:32 +0000

The global carnauba wax market was valued at USD 299.48 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.32% from 2024 to 2033. This growth is significantly driven by the increasing consumption of chewy sweets such as chewing gum and jellies, particularly in the Asia Pacific region, where youth-driven demand for confectionery products is surging. The texture-enhancing and glazing properties of carnauba wax make it a preferred additive in these types of consumables.