Scented Wax Melt Market Expected to Grow at a CAGR of 12.1% During 2028 | Reports and data

Scented Wax Melt Market

Market Trends – Rising Demand for Hygiene and Aromatherapy for Stress Relief in Various Countries

An increased awareness of environmental risks on a global scale is a major factor influencing the growth of the market. “

– Reports and data

NEW YORK CITY, NEW YORK, USA, Nov. 17, 2021 /EINPresswire.com/ – The scented wax melters market is expected to reach $ 9.21 billion by 2028, according to a new report from Reports and Data. This can be mainly associated with an increasing demand for air freshness and hygiene in residential and commercial buildings. According to statistics, the absence of exposed flames and noxious emissions, make wax melting an environmentally friendly and reliable option that will further boost its demand over the expected years. The molten waxes market is expected to witness a significant increase during the forecast period owing to the increasing demand for deodorants and aromatherapy. Steadily increasing consumer awareness of health and environmental hazards, which has increased due to the use of aerosol sprays, will drive demand for the product during the forecast period.

Melted scented waxes, also known as Wax Tarts, are becoming more and more popular in the home fragrance market. They are available in several scents and designs. They can also be presented as pots pouri or even ornaments. Wax melts also give a great cold scent spray, which means they give off a fresh scent before they’re warmed up. They are placed in an oil burner or pie warmer which can be used for home fragrance or aromatherapy. They can also be warmed slowly from a lamp or any electric heating source.

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APAC is expected to be the fastest growing market with a CAGR of 12.3% during the forecast period owing to the increased preference for air handling products in India, China and the United States. Japan. One of the major factors responsible for the expansion of the market in the region is the large demand from end-users, such as aromatherapy and interior decoration.

Other key findings from the report suggest
• Melted waxes are used as a home fragrance product and are readily available in various shapes, colors and sizes. Moreover, the increasing use of the products in commercial buildings, such as office, shopping malls and market complexes, will increase the development of the market during the forecast period.
• The changing inclination of consumers in developed countries towards natural products made using environmentally friendly methods is driving the demand for lavender oil.
• The Lavender fragrance segment represented the largest market share with 46.49% in 2019.
• The increase in the consumption of high-end products and the improvement in the standard of living of consumers, especially in developing countries, create abundant growth opportunities for lavender oil manufacturers.
• Online business type accounted for a higher share of 68.85% in 2019. Online retail stores organize events to increase sales through thematic promotions, on birthdays, Christmas, which support selling molten wax through online retail stores.
• The effortless shopping experience along with the dominance of private labels and increasing internet penetration is driving consumers to purchase scented waxes online.
• The Yankee Candle Company cooperated with US-based IT company Aptos, Inc. in July 2016 to streamline and optimize its multi-channel retail operations. This strategic move should help the company establish its global reach.
• Aromatherapy is an alternative drug therapy used to treat several disorders. Medical applications include skin related issues, pain management and cardiovascular disease, cold and cough digestive issues, respiratory disorders, anxiety, immune system function, wound healing and insomnia.
• Aromatherapy application is expected to grow with the highest CAGR of 12.3% during the forecast period.
• The aromatherapy industry is gaining popularity, especially in countries such as Malaysia, Thailand and India as large numbers of people opt for spa, rejuvenation and other related services to reduce stress from a busy lifestyle. It turns out to be an important factor for the growth of the market over the next few years.
• Major participants include Yankee Candle, Reckitt Benckiser, SC Johnson, Rimports Limited, Scentsy, Michaels Stores, East Coast Candles, AFFCO, Candles by Victoria, Walmart Stores, Scentchips and ScenSe, among others.
• Other regions such as North America accounted for 22.30% market share in 2019. Due to the presence of manufacturers in this region, the market is expected to grow steadily.

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For the purpose of this study, reports and data segmented the global scent waxes market on the basis of product, scent type, application, company type, and region:

Product Outlook (Volume, Kilotons; and Revenue, USD Million; 2020-2028)
• Beeswax
• Para-soy
• Paraffin
• Wax mixtures
• Soy
• Palm tree

Outlook Fragrance Type (Volume, Kilotons; and Revenue, USD Million; 2020-2028)
• Vanilla
• Chocolate
• Jasmine
• Sandalwood
• Lavender
• Others
Application Outlook (Volume, Kilotons; and Revenue, USD Million; 2020-2028)
• Aromatherapy
• Home
• Desks
• Commercial buildings

Business Type Outlook (Volume, Kilotons; and Revenue, USD Million; 2020-2028)
• In line
• Offline
Regional Outlook (Volume, Kilotonnes; and Revenue, USD Million; 2020-2028)
• North America
o United States
• Europe
o Germany
UK
• Asia Pacific
o China
India
o South East Asia
• Latin America
Brazil
• MEA

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Key questions answered by the report
• What was the size of the global molten perfume waxes market in 2020?
• What are the expected revenue of the global compound annual growth rate (CAGR) of the global Fused Perfume Waxes market over the forecast period?
• What is the major restraining factor in the growth of the Global Perfume Wax Fused Market?
• Which region is expected to account for the largest share of the global perfume wax melt market revenue?
• Who are the key companies operating in the global market?

Source: https://www.reportsanddata.com/press-release/global-fragrance-wax-melts-market

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