China Wax Melts Market Size & Outlook, 2024-2030
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China wax melts market highlights
- The China wax melts market generated a revenue of USD 268.5 million in 2023 and is expected to reach USD 409.7 million by 2030.
- The China market is expected to grow at a CAGR of 6.4% 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.
Wax melts market data book summary
| Market revenue in 2023 | USD 268.5 million |
| Market revenue in 2030 | USD 409.7 million |
| Growth rate | 6.4% (CAGR from 2024 to 2030) |
| Largest segment | Paraffin |
| Fastest growing segment | Palm Wax |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 7.7% of the global wax melts market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China wax melts market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 366.6 million by 2030.
Paraffin was the largest segment with a revenue share of 32.22% in 2023. Horizon Databook has segmented the China 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 use of wax melts has been prominent in the country, particularly during the holiday season. Wax melts are widely used during the Chinese New Year, Lantern Festival, Hungry Ghost Festival, MidAutumn Festival, and in Buddhist shrines.
With the flourishing demand for wax melts in China, manufacturers of home fragrances are utilizing organic ingredients and natural fragrances in their products. Several international perfume manufacturers are investing in China.
ScentAir, a renowned scentmarketing firm, believes that China is one of the countries in the Asia Pacific region with immense development potential for the fragrance industry. The thriving fragrance industry will positively impact the market for wax melts over the forecast period.
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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 |
China wax melts market size, by product, 2018-2030 (US$M)
China Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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