Wax Melts Market Size, Share & Trends Analysis Report By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), By Country, And Segment Forecast, 2018 - 2025

Industry Insights

The global wax melts market size was estimated at USD 2.02 billion in 2015 and is expected to grow on account of rising focus on the longevity of fragrances. Moreover, these products are comparatively cheaper than various other alternatives including scented candles, room fresheners, and reed diffusers.

The availability of a variety of fragrances coupled with eye-catching packaging will propel product demand over the next nine years. The absence of harmful emissions and exposed flames make these products safe and environment-friendly, which will further fuel its demand over the forecast period.

Wax melts are used as a home fragrance product and are readily available in various shapes, sizes, and colors. Moreover, increasing product usage in commercial buildings, such as shopping malls, offices, and market complexes, will promote market development over the next nine years.

Global wax melts market, by region, 2014 - 2025 (USD Million)

These products are primarily made up of paraffin, soy, beeswax, palm, and wax blends including para-soy. In addition, these products are available in several fragrances including vanilla, chocolate, jasmine, sandalwood, and lavender, which will increase its consumption over the next nine years.

Every product is unique and manufacturers use their composition of raw materials and ingredients to manufacture these products. Both big players, as well as local vendors, produce wax melts.

The key driver for the industry is the increasing consumer preference for home fragrance. Hectic work schedules and changing lifestyles have led the consumer to use wax melts owing to its soothing effects, is projected to spur market demand over the forecast period.

Aromatherapy is often practiced at homes to relieve pain, for mood enhancement, cognitive functioning, and brain stimulation. The growing importance of aromatherapy at residences is anticipated to generate ample growth opportunities over the next nine years.

Fluctuation in the prices of petroleum, such as crude oil, is expected to impact the prices of paraffin wax over the forecast period. The volatile prices of raw materials along with difficulty in sourcing them are supposed to act as a major challenge for manufacturers over the upcoming years. Moreover, the rising demand for alternatives, such as reed diffusers, is projected to restrain market growth in the future.

Regional Insights

North America was the dominant wax melts market and accounted for 52.2% of the global share in 2015. The positive outlook towards air care and aromatherapy along with growing consumer awareness regarding environmental and health hazards owing to the usage of aerosol sprays is expected to promote the product demand. Furthermore, changing lifestyles, hygiene concerns, and hectic work schedules have led the consumers to use more fragrance products, which is expected to increase market size over the upcoming years.

North America wax melts market, by country, 2015 (%)

Europe is anticipated to foresee steady growth owing to rising consumer awareness regarding synthetic ingredients in fragrance products. Moreover, harmful emissions from aerosols coupled with stringent regulations over the use of aerosol fresheners are anticipated to shift consumer preference to wax melts over the forecast period. However, the high consumption of reed diffusers and scented candles in the region will hinder demand over the next nine years.

Country Insights

UK was the leading market in Europe and was valued at USD 155.1 million in 2015. Rising demand for aromatherapy is anticipated to propel the usage of essential oil based wax melts in the country over the forecast period. Rising housing construction in the country is expected to increase the spending of consumers on home décor products. This factor, in turn, is considered to be one of the key growth-driving factors in the country.

China is expected to witness substantial growth owing to customer willingness to spend on enhancing the home ambiance. The demand in the country is anticipated to increase significantly over the forecast period at a CAGR of 12.8%, on account of ease of usability of wax melts over candles, rise in middle-class income, mass consumption of fast-moving consumer goods, and dense population.

Wax Melts Market Share Insights

The industry is fragmented on account of the presence of several large and small manufacturers. Large numbers of manufacturers are present in North America and Europe. Key players in this market include Yankee Candle, SC Johnson, Scentsy, Reckitt Benckiser, and Rimports Limited.

Various companies are focusing on developing wax melts that have a long-lasting scent and come in attractive packaging. These manufacturers are making various fragrance blends to gain a competitive advantage.

In December 2015, East Coast Candles started its online retail store to make its products easily available to customers. This strategic initiative was expected to enhance the company’s presence as well as its distribution network in the future.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global wax melts market on the basis of region and country:

• Regional Outlook (Revenue, USD Million; 2014-2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • Italy

    • France

  • Asia Pacific

    • China

  • Central & South America

    • Brazil

  • MEA