South Africa Wax Melts Market Size & Outlook, 2024-2030
Related Markets
South Africa wax melts market highlights
- The South Africa wax melts market generated a revenue of USD 42.7 million in 2023 and is expected to reach USD 70.7 million by 2030.
- The South Africa market is expected to grow at a CAGR of 7.7% 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 42.7 million |
| Market revenue in 2030 | USD 70.7 million |
| Growth rate | 7.7% (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, South Africa accounted for 1.2% 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 Middle East & Africa, South Africa wax melts market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 70.7 million by 2030.
Paraffin was the largest segment with a revenue share of 31.62% in 2023. Horizon Databook has segmented the South Africa 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 high demand for artisanal and natural luxury wax melts is driving the market growth in South Africa. South African consumers are looking for scented candles that help relieve stress and provide comfort. The demand for luxury wax melts is primarily driven by the younger generation as they prioritize self-care routines, and scented wax melts are becoming an important aspect of relaxation.
Players such as The Modelist, based in Cape Town, South Africa, offer scented wax melts that are handmade with natural wax with various scents such as Stone Rose, Nerola, Dare To Vetiver, White Shirt, Pink Suede, and more. These scents are known to aid in relaxation as their base notes are earthy, with a touch of citrus, spicy, or floral.
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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 |
South Africa wax melts market size, by product, 2018-2030 (US$M)
South Africa Wax Melts Market Outlook Share, 2023 & 2030 (US$M)
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