Research and Markets - North America Fragrance Wax Melts Market Value of USD 2.90 Billion by 2024 - Trends, Technologies & Opportunities Report 2016-2024 - Vendors: Walmart, Reckett Benckiser, Michaels
25 Oct, 2016, 18:10 BST
DUBLIN, October 25, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "North America Fragrance Wax Melts Market Analysis And Segment Forecasts To 2024" report to their offering.
North America fragrance wax melts market is expected to reach USD 2.90 billion by 2024. Increasing demand for home fragrance products coupled with rising significance of aromatherapy will augment product consumption over the forecast period. The absence of exposed flames and harmful emissions, makes wax melts a safe and eco-friendly option which will drive its demand over the forecast period.
The U.S. was the largest market in North America and contributed to 80.0% of the overall revenues in 2015. Busy work schedules and changing lifestyles have led consumers to utilize more fragrance products at home for the maintenance of proper ambiance. Moreover, development of new exotic aromatic compounds coupled with the practice of aromatherapy at homes will stimulate market growth over the forecast period.
Canada is expected to witness significant gains at a CAGR of 11.9% from 2016 to 2024 in light of rising consumer surplus and growing prosperity of the middle-class population. Availability of different varieties of scents will generate more interest among consumers to avail the products and will drive the industry expansion over the next eight years.
Scentsy, Yankee Candle, Rimports Limited, S.C. Johnson and Reckitt Benckiser dominated the North America fragrance wax melts industry in 2015. The market is also fragmented in nature with the presence of numerous local manufacturers. Key players in the market are focusing on increasing their market share along with profitability through product innovation. Low capital and technology investment, are likely to create low entry barriers and maintain high competition among industry participants.
In July 2016, Yankee Candles partnered with a U.S. based IT company named Aptos, Inc., for streamlining and optimizing its Omni-channel retail operations. In December 2015, East Coast Candles launched its online store in an attempt to make its products readily available to its customers.
Companies Mentioned:
- East Coast Candles
- Yankee Candle
- Michaels
- Scentsy
- Rimports Limited (Scentsationals is a subsidiary of Rimports)
- AFFCO
- S.C. Johnson
- Candles by Victoria
- Scentchips, Inc.
- Walmart, Inc.
- ScenSei
- Reckitt Benckiser
Report Structure:
1 Methodology And Scope
2 Executive Summary
3 Market Summary
4 Market Variables, Trends & Scope
5 Market Categorization 3: Country Estimates & Trend Analysis, by Product & Application
6 Competitive Landscape
7 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/z5jbdr/north_america
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SOURCE Research and Markets