Global Wax Melts Market Size & Outlook, 2023-2030
The wax melts industry worldwide is expected to reach a projected revenue of US$ 5,191.6 million by 2030. A compound annual growth rate of 5.9% is expected of the worldwide wax melts industry from 2024 to 2030.
Revenue, 2023 (US$M)
$3,473.2
Forecast, 2030 (US$M)
$5,191.6
CAGR, 2024 - 2030
5.9%
Report Coverage
Worldwide
Global wax melts market, 2018-2030 (US$M)
Related Markets
Global wax melts market highlights
- The global wax melts market generated a revenue of USD 3,473.2 million in 2023 and is expected to reach USD 5,191.6 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.9% by 2030.
- In terms of segment, paraffin accounted for a revenue of USD 1,068.8 million in 2023.
- Palm Wax is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 3,473.2 million |
| Market revenue in 2030 | USD 5,191.6 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Paraffin |
| Fastest growing segment | Palm Wax |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Paraffin, Soy Wax, Palm Wax, Beeswax, Others (Stearin, Rapeseed Wax, Coconut Wax) |
Other key industry trends
- In terms of revenue, the North America accounted for 34.2% of the global wax melts market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 92.3 million by 2030.
Paraffin was the largest segment with a revenue share of 30.77% in 2023. Horizon Databook has segmented the Global 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.
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Wax Melts Market Scope
Wax melts market segmentation & scope
Wax Melts Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global wax melts market size, by regions, 2018-2030 (US$M)
Top 10 countries: Wax melts market size, 2023 (US$M)
Global wax melts market share, by product, 2023 & 2030 (%, US$M)
Wax melts market: Opportunity assessment by country
Global wax melts market, by region, 2023 (US$M)
Related regional statistics
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