North America Wax Melts Market Size & Outlook, 2024-2030
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North America wax melts market highlights
- The North America wax melts market generated a revenue of USD 1,182.3 million in 2023.
- The market is expected to grow at a CAGR of 5.5% 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, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 1,182.3 million |
| Market revenue in 2030 | USD 1,697.1 million |
| Growth rate | 5.5% (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, North America region accounted for 34.0% 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 32.45% in 2023. Horizon Databook has segmented the North America 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.
The demand for wax melts in North America is poised to grow due to emerging trends, particularly selfcare and wellness. These trends are evident in light of the increasing adoption of self-care practices among Americans, with nearly 9 out of 10 (88%) actively engaging in self-care, according to a survey by Iri.org in 2022.
Aromatherapy is gaining prominence in the self-care landscape due to its unique ability to provide healing benefits for both the body and mind. This will promote the demand for wax melts in the North American market.
An increasing number of people in North America have shown a high inclination for aromatherapy. As per Mayo Clinic in one of its research releases, aromatherapy helps in relieving anxiety and depression, improving the quality of life—mostly for people with chronic diseases, and helps those with sleep distress.
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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 |
North America wax melts market size, by country, 2018-2030 (US$M)
North America Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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