India Wax Melts Market Size & Outlook, 2023-2030

The wax melts market in India is expected to reach a projected revenue of US$ 364.4 million by 2030. A compound annual growth rate of 8.5% is expected of India wax melts market from 2024 to 2030.
Revenue, 2023 (US$M)
$205.2
Forecast, 2030 (US$M)
$364.4
CAGR, 2024 - 2030
8.5%
Report Coverage
India

India wax melts market highlights

  • The India wax melts market generated a revenue of USD 205.2 million in 2023 and is expected to reach USD 364.4 million by 2030.
  • The India market is expected to grow at a CAGR of 8.5% 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 2023USD 205.2 million
Market revenue in 2030USD 364.4 million
Growth rate8.5% (CAGR from 2023 to 2030)
Largest segmentParaffin
Fastest growing segmentPalm Wax
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationParaffin, Soy Wax, Palm Wax, Beeswax, Others (Stearin, Rapeseed Wax, Coconut Wax)
Key market players worldwideEast 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, India accounted for 5.9% 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 364.4 million by 2030.

Paraffin was the largest segment with a revenue share of 30.12% in 2023. Horizon Databook has segmented the India 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.


With the rise in increased spending on homes, homeowners are now emphasizing the importance of making the space both beautiful and functional. Additionally, the money that would have been spent on vacations, trips, and eating out was instead diverted to domestic expenditures. This trend will bode well for luxury wax melts.

Some popular luxury wax melts brands, such as Jo Malone, East Coast Candles, and Yankee Candle, have launched their products in India through ecommerce platforms to expand their presence in the country.

In India, the demand for organic waxes such as soy wax and palm is increasing due to rising awareness among home fragrance users. Rise of premium Indian brands and ease of availability of raw materials are increasing the demand for eco-friendly wax melts.

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Wax Melts Market Companies

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India wax melts market size, by product, 2018-2030 (US$M)

India Wax Melts Market Outlook Share, 2023 & 2030 (US$M)

India wax melts market size, by product, 2018-2030 (US$M)

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