Europe, Middle East & Africa Wax Melt Market Progressing At A CAGR Of 11.9% From 2021 To 2028

 San Francisco, 5 May 2021: The Report Europe, Middle East & Africa Wax Melt Market Size, Share & Trends Analysis Report By Type (Pressed Wax Melt, Poured Wax Melt, Bees Wax), By Pack, By Country, And Segment Forecasts, 2021 - 2028

Europe, Middle East & Africa wax melt market size is anticipated to reach USD 2.71 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.9% from 2021 to 2028. Wax melts are becoming more and more popular and now many consumers favor them over candles to make their homes smell beautiful. Wax melts do not have a wick, nor do they require a flame, like candles.

Wax melts are usually warmed in an electric wax melt warmer containing a small 15-watt light bulb that is included at the base of the warmer. The light bulb provides just enough heat to warm the wax melts, tarts, or cubes, releasing the scent in as little as 5-10 minutes. The National Fire Protection Association estimated that from 2009 to 2013, fires related to candles caused an estimated USD 374 million in direct property damage. Decorative candles are appealing, but the exposed flame poses the risk of something else catching fire by accident.

Several factors affect both the average burn time of candles and wax melts, such as type of wax, amount of fragrance oil and size of candle or wax melt. Wax melts are preferred over candles for their burn time. The average burn time of a 16-oz candle jar is expected to be anywhere between 60 and 84 hours, i.e. about 5 hours of burn time per ounce. On the other hand, 8-oz. wax melts have an average of 225 hours of burn time, which breaks down to 28 hours of burn time per ounce.

Perceived as safe due to the absence of an exposed flame and popular for their unique capability to create personalized fragrance combinations, wax melts have been enjoying double-digit growth since 2007. In 2013, the category was primarily driven by new entries from S.C. Johnson who recorded sales of nearly USD 20 million, Procter & Gamble who extended Febreze into wax melts, and several smaller marketers who joined the category.

By product, pressed wax melt will grow at the fastest CAGR over the forecast period. Compared to the pouring process, pressed wax melts can be produced in large quantities through extrusion molding, which drastically brings down the overall cost of manufacturing. Moreover, most consumers in the U.K. purchase these products from supermarkets, where the availability of pressed wax melt is greater than poured wax melt. There are several players manufacturing pressed and poured wax melt in Germany. The market is dominated by pressed wax melts due to their easy availability and low cost as compared to poured wax melts. Pressed wax melts are commonly found in the form of scented cube air fresheners, with the process being prominently used by companies such as P&G (Febreze) and SC Johnson (Glade wax).

Multipack segment is the largest and fastest-growing segment for distribution channels. There is a rise in demand for aromatherapy and spa treatments and wax melts help in creating a relaxing atmosphere. Tourism has also increased in EMEA countries. The hospitality sector such as hotels, spas, and restaurants purchase multi-packs of wax melt to cater to the needs of their consumers.

Access Research Report of Europe, Middle East & Africa Wax Melt Market @ https://www.grandviewresearch.com/industry-analysis/emea-wax-melt-market

Europe, Middle East & Africa Wax Melt Market Report Highlights

  • The poured wax melt segment accounted for the largest share of 57.2% in 2020 and is expected to expand at a CAGR of 11.4% over the forecast period of 2021 to 2028
  • The pressed wax melt segment is expected to register the highest CAGR of 12.5% over the forecast period
  • The multi-pack segment accounted for the largest share of 77.4% in 2020 and is estimated to ascend with a CAGR of 12.0% over the forecast period
  • The U.K. held the largest market share of 21.8% in 2020

List of Key Players of Europe, Middle East & Africa Wax Melt Market

  • Kerax Limited
  • P&G
  • Arran Aromatics
  • Aroma Works
  • Best Kept Secrets
  • Breeze Candles
  • Canova
  • Charles Farris
  • Sonneborn
  • Cereria Ronca Srl

Access Press Release of Europe, Middle East & Africa Wax Melt Market @ https://www.grandviewresearch.com/press-release/emea-wax-melt-market-analysis

 

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