India Wax Melts Market Size & Outlook, 2024-2030
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India wax melts market highlights
- The India wax melts market generated a revenue of USD 218.7 million in 2023 and is expected to reach USD 366.6 million by 2030.
- The India market is expected to grow at a CAGR of 7.9% 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.
Wax melts market data book summary
| Market revenue in 2023 | USD 218.7 million |
| Market revenue in 2030 | USD 366.6 million |
| Growth rate | 7.9% (CAGR from 2024 to 2030) |
| Largest segment | Paraffin |
| Fastest growing segment | Palm Wax |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 6.3% of the global wax melts market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China wax melts market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 366.6 million by 2030.
Paraffin was the largest segment with a revenue share of 31.96% in 2023. Horizon Databook has segmented the India 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.
With the rise in increased spending on homes, homeowners are now emphasizing the importance of making the space both beautiful and functional. Additionally, the money that would have been spent on vacations, trips, and eating out was instead diverted to domestic expenditures. This trend will bode well for luxury wax melts.
Some popular luxury wax melts brands, such as Jo Malone, East Coast Candles, and Yankee Candle, have launched their products in India through ecommerce platforms to expand their presence in the country.
In India, the demand for organic waxes such as soy wax and palm is increasing due to rising awareness among home fragrance users. Rise of premium Indian brands and ease of availability of raw materials are increasing the demand for eco-friendly wax melts.
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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 |
India wax melts market size, by product, 2018-2030 (US$M)
India Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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