The global fragrance wax melts market size is expected to reach USD 13.04 Billion in 2030 and register a revenue CAGR of 14.0% over the forecast period, according to a latest report by Reports and Data. Rising usage of wax melts in cosmetic products and increasing consumer awareness regarding hazardous effect of air fresheners is expected to drive market revenue growth during the forecast period. Increasing demand for chemical-free and natural scented wax melts is expected to boost the growth of flavors fragrances market in near future. The chemicals produced by flames could lead to dizziness, headache, and fatigue in the body. Thus, increasing demand for chemical-free and natural scented wax melts is expected to drive market revenue growth. Moreover, increasing demand for essential oils with natural flavors to treat various skin disorders is expected to increase demand for fragrance wax melts over the forecast period. Furthermore, increasing research and development by fragrances wax melts manufacturers for development of newest organic wax melts is expected to propel growth of the market. Increasing demand for hand-made and customized fragrance wax melts for gift purposes is also driving the growth of fragrance wax melts market.
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Market Dynamics:
The global Fragrance Wax Melts market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.
Competitive Landscape:
The research report offers details about leading companies in the global Fragrance Wax Melts market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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Major Companies:
- The Yankee Candle Company,
- C. Johnson Son, Inc.,
- Candles by Victoria,
- Happy Wax,
- East Coast Candles,
- Scentsy, Inc.,
- Reckitt Benckiser Group PLC,
- Scentchips,
- Peaceful Smells,
- LLC,
- Sassy Shop Wax.
Market Segmentation:
The report also sheds light on the market segmentation based on type, application and region:
By Offerings Outlook
- Soy
- Beeswax
- Wax Blends
- Paraffin
- Para-soy
- Palm
By Fragrance Type Outlook
- Jasmine
- Lavender
- Sandalwood
- Vanilla
- Others
By Application Outlook
- Home
- Aromatherapy
- Offices Commercial Buildings
- Others
By Business Type Outlook
- Online
- Offline
Fragrance Wax Melts Market Segmentation based on Regions:
North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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