The market is expected to witness high growth owing to increasing use of the product as a food glazing agent which provides a superior shine, thus improving its aesthetic ability. The Global Carnauba Wax Market size is expected to reach USD 334.9 million by 2024, according to a new report by Grand View Research, Inc. Carnauba wax market is highly influenced by the favorable regulations enforced by the regulatory agencies such as European Union (EU) and Food and Drug Administration (FDA). The industry is highly dependent on the raw materials which form a major part of the operational cost for the manufacturers. The raw material is supplied majorly by the farmers and landholders, employing primitive techniques for wax extraction. However, in some cases, the manufacturers may be backward integrated to the extraction of raw materials. The manufacturing of the product is limited to Brazil due to the exclusivity of the Brazilian palm tree to the region. The production is dominated b