UK Wax Melts Market Size & Outlook, 2024-2030
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UK wax melts market highlights
- The UK wax melts market generated a revenue of USD 194.0 million in 2023 and is expected to reach USD 313.1 million by 2030.
- The UK market is expected to grow at a CAGR of 7.3% 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 194.0 million |
| Market revenue in 2030 | USD 313.1 million |
| Growth rate | 7.3% (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, UK accounted for 5.6% 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 Europe, UK wax melts market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 313.1 million by 2030.
Paraffin was the largest segment with a revenue share of 33.09% in 2023. Horizon Databook has segmented the UK 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.
Innovative product offerings in the U.K. are driving the market growth. Manufacturers are constantly introducing new and innovative wax melt products that appeal to consumers, such as unique scent combinations and decorative packaging, thereby driving market growth.
In October 2023, Classic Candle, a U.K.-based home fragrance brand, launched MiniPot Wax Melts, a budget-friendly range offering over 120 premium fragrances, including a new category named 'Inspired By,' featuring scents reminiscent of popular perfumes and fabric conditioners.
The clean white wax melts come in recyclable plastic pots, combining an elegant aesthetic with ecofriendly packaging. The demand for diverse options for home fragrances has led to an increasing popularity of wax melts in the U.K.
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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 |
UK wax melts market size, by product, 2018-2030 (US$M)
UK Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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