Wax melt, also known as coreless fragrance wax, is a wax product used for aromatherapy and is usually made by mixing natural wax, essence oil, and other ingredients. It can emit fragrant odors through combustion or heating, helping to improve indoor air quality, alleviate stress and fatigue, etc.

Overview of Overall Market Development and Analysis of Segmented Markets

With the increasing attention of consumers to the comfort and atmosphere of home environments, as a new type of fragrance product, the market demand for wax melts is gradually increasing, and the market size is steadily growing. According to our research data, the global wax melt market size was $1515 million in 2023 and is expected to continue to increase to $1682 million by 2025.

From the perspective of product types, according to the different components of natural wax and essence oil used, wax melts can be divided into paraffin wax melts and soy wax melts. Among them, paraffin wax melts dominate the market. According to the data, the global paraffin wax melt segment market size in 2023 was $866 million, with a market share of 57.19%.

Source: www.globalmarketmonitor.com

Analysis of Market Competition Pattern

From the perspective of market competition, the concentration of the global wax melt market is low. According to our data, the total production value of wax melts by the top 3 companies in 2020 was $197.83 million, with a total share of only 16.07%. The top 3 companies were Yankee Candle, S C. Johnson & Son, Inc., and Rimports Limited. In 2020, these three companies accounted for 7.63%, 4.83%, and 3.61% of the global total production value of wax melts, respectively.

Wax Melt Production Value and Share of Main Companies in 2020

Companies	Production Value (Million USD)	Share
Yankee Candle	93.96	7.63%
S. C. Johnson & Son	59.42	4.83%
Rimports Limited	44.45	3.61%
Top3	197.83	16.07%

Source: www.globalmarketmonitor.com