Wax Melts Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Wax Melts Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2021 | Chemical & Materials

Report Digest


Global Wax Melts Market: Snapshot

The home fragrance sector is increasingly becoming one of the strongest sectors of the global fragrances industry. The luxury sector in the home fragrance market is, especially, exhibiting a significant rise in demand across emerging economies as well. Segments such as wax melts are gaining prominence owing to their organic origins and absolutely no harm to the environment. The wax melts market is expected to swell in the next few years, thanks to a vast set of factors, including the rising expenditure on luxury products from the increasingly affluent higher middle class in developing economies, the rising number of product varieties, and the ease of procuring international products through e-commerce websites.

The impact of the Internet is, especially, highly prevalent in the luxury wax melts segment. In the next few years, e-commerce is projected to become one of the most lucrative sales channel and account for a massive share in the overall sales of wax melts across the globe. With international companies gaining easy exposure with the help of the mammoth e-commerce industry across major developing as well as developed economies, companies are advised to focus more on utilizing the e-commerce industry for promising returns.

Competition is expected to intensify in the market as a number of regional and domestic companies foray into emerging economies. Nevertheless, the brand value of international brands will help bring revenue from young consumers and the swelling elite class. Innovation in products, packaging, and development of products in economic cost range could also help companies gain a larger share of the wax melts market in emerging economies.

Global Wax Melts Market: Overview 

Wax melts, also known as wax tarts, unlike candles that burn with a wick, are put in a tart warmer or an oil burner and gradually warmed from a tea light or electric heating source. Available in numerous fragrances and designs, they are being increasingly used to improve indoor atmosphere. A report by TMR Research studies the global wax melts market by factoring in the current competitive dynamics, growth drivers and restraints, and market size. Currently, the market is fragmented in nature with a copious number of players – both large and small – in the U.S. and the U.K. competing with each other on the basis of price, product differentiation, and astute marketing strategies. 

To maintain a foothold in the market, the leading players are resorting to strategic collaborations. The report studies all such prevalent trends in details and goes on to segment the market based on different parameters. It also leverages popular analytical tools to find out opportunities and threats awaiting players in the global market for wax melts. It identifies prominent players contributing toward the growth of the wax melts market. The report furnishes an overview of their financial position, recent developments, product portfolio, and geographical reach. 

Wax Melts Market: Drivers and Trends 

At the forefront of driving growth in the global wax melts market is the rising concern towards air care and hygiene in commercial and residential buildings. Besides, wax melts do not emit harmful flames and are eco-friendly and safe. This is another factor fuelling an upward trend in the market. Going forward, wax melts are predicted to see explosive sales on the back of solid demand for air fresheners and aromatherapy. The increasing awareness among the rising ranks of discerning consumers about environmental and health hazards, which is posed mainly by aerosol sprays, will further stoke demand for wax melts. 

Also driving growth in the global wax melts market is the increasing need for longer lasting fragrances and the relatively cheaper cost of wax melts as compared to alternative products such as aerosol fragrance and reed diffusers. In addition, the availability of a wide array products having different sizes, scents, and patterns will also drive the market. A recent noticeable trend in the market is the marketing of products through the proliferating ecommerce channels, apart from supermarkets and hypermarkets. Another prominent trend is the continued thrust on product innovation. 

Wax Melts Market: Regional Outlook 

Geographically, Asia Pacific is slated to clock maximum growth on account of the solid demand for air care products in the countries of Australia, Japan, and China. End-user sectors of home décor and aromatherapy have been primarily pushing demand in the region. In terms of market share, however, North America dominates followed by Europe. The market is also predicted to witness good growth in the U.S., the U.K., Canada, and Germany due the substantial growth in aromatherapy and concerns about air care. Other factors augmenting the market in the aforementioned regions are the hectic schedule and rising disposable incomes of people. 

Companies Mentioned in Report 

To present a detailed assessment of the competition prevailing in the global wax melts market, the report profiles companies such as Scentsy, Yankee Candle, SC Johnson, Reckitt Benckiser, and Rimports Limited. The analysts have evaluated the top-tier companies based on their key adoptions, strategies, mergers and acquisitions, and recent developments.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?