Fragrance Wax Melts Market to Grow with a CAGR of 5.10% Globally through to 2028
Growing awareness of air care and aromatherapy, increasing disposable income are factors driving the Global Fragrance Wax Melts market in the forecast period 2024-2028.
According to TechSci Research report, “Global Fragrance Wax Melts Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Fragrance Wax Melts Market stood at USD2.98 billion in 2022 and is anticipated to grow with a CAGR of 5.10% in the forecast period, 2024-2028. Increasing consumer awareness of the harmful effects of air fresheners and the rising use of wax melts in cosmetic goods are two factors anticipated to propel market revenue growth during the forecast period. Other factors that are anticipated to support market revenue growth during the projected period include rising demand for aroma wax melts in salons, spas, and therapy centers as well as rising desire for inexpensive and natural scented room fresheners.
Fragrance wax melts are scented chunks of wax that release fragrance when heated. Wax tarts, commonly referred to as fragrant wax melts, are a common in-home fragrance product. The wax melts are put in an oil burner or tart warmer that can be used for aromatherapy or home scent. Wax melts are available in a variety of sizes and shapes and are intended to be slowly warmed. Demand for fragrance wax melts is anticipated to increase in the near future due to rising consumer usage of wax melts in cosmetic items like lipsticks and face masks. Lipsticks, moisturizers, soaps, and other toiletries employ fragrance soy wax melts to add aroma without degrading the quality of the finished product.
An additional factor boosting market revenue growth is the rising demand for scented wax melts, which have a gentler and fresher scent than other Aerosol sprays. Pet odor-eliminating soy wax melts are in more demand as demand for pet-friendly perfumes rises. Soy wax melts are fully safe, non-toxic, and environmentally friendly. This is anticipated to fuel the market for fragrance wax melts to increase in revenue. The use of fragrance wax melts is also being aided by the rising demand for fragrance wax cubes with natural flavors like shea butter and coconut oil for face peel-off masks and hair removal. This is anticipated to fuel the market's revenue expansion in the near future.
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Demand for scented wax melts is anticipated to rise as consumer awareness of the negative impacts of air fresheners grows. Due to their high flammability, air fresheners pose a risk of throat, eye, and skin irritation. The majority of the substances utilised in air fresheners are extremely poisonous and may be dangerous to one's health. This is anticipated to boost demand for scented wax melts and to propel market revenue growth. Growing consumer preference for natural fragrances for use in the home and workplace to relieve stress and promote relaxation is anticipated to support market revenue development. The market for aroma wax melts is also anticipated to expand as a result of rising utilisation of wax melts as SPF boosters and wash resistance of emulation-based formulation.
The demand for wax melts is rising as a result of the widespread usage of fragrance wax melts with essential oils to heal wounds, burn scars, and acne-related issues. Additionally, it is anticipated that rising demand for fragrance wax cubes with naturally occurring flavours like sandalwood, lily, rose, lavender, and vanilla will accelerate the uptake of fragrance wax melts. This is anticipated to fuel market revenue growth between 2021 and 2030. In the near future, rising product innovation and rising demand for natural air fresheners are anticipated to propel market expansion.
One of the primary drivers of this growth is the shift in consumer preferences toward safer and more customizable home fragrance options. Fragrance wax melts offer an appealing alternative to traditional candles, addressing concerns related to open flames and wax spills. Moreover, consumers can choose from a wide array of scents, from classic floral and fruity fragrances to unique and seasonal options, allowing them to personalize their home ambiance.
The global fragrance wax melts market has also benefited from the rise of e-commerce. Online retail platforms have made it convenient for consumers to access a diverse range of wax melt products from various brands and artisans. This accessibility has expanded the market's reach and enabled niche and artisanal products to thrive in a competitive landscape.
The Global Fragrance Wax Melts Market is segmented into product type, fragrance type, application, regional distribution, and company.
Based on product type, the beeswax segment is anticipated to hold the biggest market share. The use of beeswax, which has anti-inflammatory, anti-bacterial, and anti-viral qualities, is growing as a result. Demand for beeswax is rising as more people use it to create delicate perfumes.
Based on fragrance type, global fragrance wax melts market has been segmented into jasmine, lavender, sandalwood, vanilla, and others. Over the projection period, a sizable market share is anticipated for the lavender sector. Manufacturers are using more lavender as a result of rising consumer demand for it in scented wax melts, which is boosting the segment's revenue growth.
Based on region, North America segment is expected to grow during the forecast period. Growing consumer preference for aromatherapy among working professionals in the region is anticipated to propel market revenue growth. The market for fragrance wax melts is experiencing revenue growth due to the rising demand for home scents in North America. Another factor that is anticipated to fuel market growth in North America is the increase in people's busy schedules and changing lifestyles.
Major companies operating in Global Fragrance Wax
Melts Market are:
- The Yankee Candle Company
- S.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
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“The global fragrance wax melts market has experienced significant growth, driven by consumer preferences for customizable, safe, and long-lasting home fragrance solutions. These solid wax cubes or shapes, when melted in wax melt warmers, release pleasant scents into the environment, providing a flame-free alternative to traditional candles. The market benefits from factors like a focus on home ambiance, safety, diverse scent options, e-commerce growth, eco-friendly choices, customization, gifting opportunities, and adherence to safety regulations. However, it faces challenges like regulatory compliance, environmental concerns, competition, supply chain disruptions, evolving consumer preferences, health considerations, pricing pressures, and seasonal demand fluctuations.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Fragrance Wax Melts Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Beeswax, Para-soy, Paraffin, Wax-Blends, Soy, Palm, Others), By Fragrance Type (Jasmine, Lavender, Sandalwood, Vanilla, Others), By Application (Residential, Commercial, Aromatherapy, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Fragrance Wax Melts Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Fragrance Wax Melts Market.
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