Fragrance wax melts are wax tarts or wax melts that are used for aroma therapy oil or home fragrance oils by placing them in a tart warmer and slowly burning them from an electric heating source or from a tea light, unlike a candle that burn with a wick. They are used for home fragrance and for aroma therapy in places such as spas, salons and therapy centers among others. Fragrance wax melts are made from sources such as soy and para-soy wax, palm and bees among others. The global market for fragrance wax melt is highly fragmented due to the presence of numerous local players in all the regions which make it difficult for key market players which is a hindrance for key players to increase their market share. They are therefore, focusing on product innovation and low profit margin in order to increase their market share globally. The high competition is due to low technology and capital investment which creates low entry barriers for new players to venture into this market.

Major drivers driving the global market for fragrance wax melt includes relatively cheaper price of fragrance wax melts as compared to other scented candles, room fresheners and reed diffusers which is triggering market growth. In addition, growing importance of aroma therapy to reduce pain, brain stimulation, cognitive function and mood enhancement is also driving the market in a positive way. Abundant and easy availability of raw materials of fragrance wax melts is driving market growth. In addition, availability of unique fragrances and different types of warmers including non-electric and electric is also expected to trigger market growth. Growing awareness among consumers about the hazardous effects of air fresheners and aerosol sprays is boosting demand for fragrance melts globally therefore, triggering market growth. Increased presence of petroleum companies will boost paraffin wax output which will increase the production of wax tarts. Long lasting fragrance of wax melts as compared to aerosol sprays is also boosting market growth. Volatility of raw materials is expected to restrain the market for fragrance wax melts. In addition, increasing reed diffusers popularity as home fragrance products owing to its safe usage and longevity is hindering market growth for fragrance wax melts.

Geographically, the global fragrance wax melt market is segregated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America is the largest market for fragrance wax melts with the U.S. accounting for more than 80% of the totak market in North America. Changing lifestyles and busy work schedules have made consumers to use more fragrance products at home for proper ambiance maintenance. Canada is expected to grow at a very high CAGR during the forecast period owing to growing standard of living and growing consumer surplus. Asia Pacific is the fastest growing market with more demand for aroma therapy among consumers in this region. Increasing number of working professionals and increased urban population have led to people seeking aroma therapy for pain relief and mood enhancement among others in this region. Middle East and Africa is also expected to witness exponential growth rate owing to increased tourism and tourist seeking mood relaxation sessions in spas and therapy centers.

Major players of the global fragrance wax melt market includes East Coast Candles Company (Massachusetts, U.S.), Yankee Candle (Massachusetts, U.S.), Michaels (Texas, U.S.), Scentsy (Texas, U.S.), Rimports Limited (Provo, U.S.), AFFCO (Hamilton, New Zealand), S. C. Johnson & Son (Wisconsin, U.S.),  Candles by Victoria (Texas, U.S.), Scentchips, Inc. (Florida, U.S.), Walmart, Inc. (Arkansas, U.S.), Scensei – Master of Scents (U.S.) and  Reckitt Benckiser Group plc (Slough, United Kingdom) among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Fragrance Wax Melt Market

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