Europe Wax Melts Market Size & Outlook, 2024-2030
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Europe wax melts market highlights
- The Europe wax melts market generated a revenue of USD 969.2 million in 2023.
- The market is expected to grow at a CAGR of 5.8% from 2024 to 2030.
- In terms of segment, paraffin was the largest revenue generating product in 2023.
- Palm Wax is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 969.2 million |
| Market revenue in 2030 | USD 1,414.7 million |
| Growth rate | 5.8% (CAGR from 2024 to 2030) |
| Largest segment | Paraffin |
| Fastest growing segment | Palm Wax |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Paraffin, Soy Wax, Palm Wax, Beeswax, Others (Stearin, Rapeseed Wax, Coconut Wax) |
| Key market players worldwide | East Coast Candles, Yankee Candle Company, Michaels Stores, Scentsy, Bridgewater Candle Company, Bramble Bay, Talley Group, Stora Enso Oyj Ordinary Shares - Class R, SC Johnson, NEST New York |
Other key industry trends
- In terms of revenue, Europe region accounted for 27.9% of the global wax melts market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,339.4 million by 2030.
Paraffin was the largest segment with a revenue share of 32.48% in 2023. Horizon Databook has segmented the Europe wax melts market based on paraffin, soy wax, palm wax, beeswax, others (stearin, rapeseed wax, coconut wax) covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is a lucrative market for wax melts, as it is one of the major importers of essential oils from developing countries to meet its growing demand for aromatherapy. These essential oils are used with various waxes to make scented wax melts.
Multiple studies in Europe have assessed the prevalence of depression, indicating a range of 5% to 10% across the region, with variations between countries (for instance, 10% in the U.K. and 7% in Germany).
According to the study published by The Lancet Public Health in June 2021, around 6.4 million of the European population suffer from depression and anxiety annually. Up to 50% of chronic sick leave in Europe is because of depression and anxiety, putting a strain on the European economy.
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Wax Melts Market Scope
Wax Melts Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Bramble Bay | View profile | 11-50 | Deception Bay, Queensland, Australia, Oceania | https://www.bramblebayco.com |
| Michaels Stores | View profile | 10001+ | Irving, Texas, United States, North America | https://www.michaels.com/ |
| East Coast Candles | View profile | 1-10 | Sussex, New Brunswick, Canada, North America | https://eastcoastcandles.ca |
| Talley Group | View profile | 101-250 | Romsey, Hampshire, United Kingdom, Europe | https://www.talleygroup.com/ |
| Scentsy | View profile | 1001-5000 | Meridian, Idaho, United States, North America | https://scentsy.com/ |
| SC Johnson | View profile | 10001+ | Racine, Wisconsin, United States, North America | http://www.scjohnson.com |
| Yankee Candle Company | View profile | 5001-10000 | Rogers, Arkansas, United States, North America | http://yankeecandle.com |
| NEST New York | View profile | 101-250 | New York, New York, United States, North America | http://www.nestfragrances.com |
| Bridgewater Candle Company | View profile | - | Spartanburg, South Carolina, United States, North America | https://bridgewatercandles.com |
| Stora Enso Oyj Ordinary Shares - Class R | View profile | 20000 | P.O. Box 309, Helsinki, Finland, FI-00101 | https://www.storaenso.com |
Europe wax melts market size, by country, 2018-2030 (US$M)
Europe Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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