Canada Wax Melts Market Size & Outlook, 2023-2030
Canada wax melts market, 2018-2030 (US$M)
Related Markets
Canada wax melts market highlights
- The Canada wax melts market generated a revenue of USD 229.9 million in 2023 and is expected to reach USD 333.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 5.5% 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 229.9 million |
| Market revenue in 2030 | USD 333.5 million |
| Growth rate | 5.5% (CAGR from 2023 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, Canada accounted for 6.6% 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 North America, U.S. wax melts market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 333.5 million by 2030.
Paraffin was the largest segment with a revenue share of 29.71% in 2023. Horizon Databook has segmented the Canada 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 growth of online retail platforms makes it convenient for consumers to explore and purchase a variety of wax melt products. E-commerce channels and retailers contribute to the accessibility and awareness of wax melts in the Canadian market.
Some companies catering to the Canadian wax melts market through e-commerce and retail outlets include The Scented Market, Aroma Retail, and Bewitched Aromas. Bewitched Aromas is one of the key players offering wax melts in the U.S. and Canadian markets.
The company makes snap bar and dessert-inspired wax melts. The company offers wax melts made from sustainable coconut and soy wax blends with fragrance oils. Its range of non-toxic, paraben-free, and phthalate-free wax melts caters to the increased demand for eco-friendly and sustainable products owing to growing environmental awareness among Canadian consumers.
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Wax Melts Market Scope
Wax Melts Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada wax melts market size, by product, 2018-2030 (US$M)
Canada Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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