Market Overview:
The global natural wax and paraffin candles market is expected to register a CAGR of 5.8% during the forecast period, 2018-2030. The market growth can be attributed to the increasing demand for natural wax and paraffin candles from various end-use industries such as pharmaceuticals, food, cosmetics, candles, fabric printing ink and lubricants. Moreover, the growing awareness about the benefits of using natural waxes over synthetic counterparts is also propelling the growth of this market. Based on type, beeswax accounted for a major share in 2017 and is projected to maintain its dominance during the forecast period. This can be attributed to its properties such as high melting point (62°C), non-toxic nature and biodegradability which make it suitable for use in various applications including pharmaceuticals, food items etc.
Product Definition:
Natural Wax is a natural product obtained from plants. Paraffin Candles are made of petroleum jelly and other ingredients. They are odorless, smokeless, and dripless.
Bees Wax:
Beeswax is a natural wax produced by honeybees to store food for the winter. It has high demand in cosmetics and personal care products as it has excellent moisturizing properties.
Whale Fat:
Whale fat is the partially solidified lipids extracted from the body of cetaceans. The most commonly used species for extracting this oil are sperm, blubber, and full-fat milk. Sperm whale contains around 30% while blubber and full-fat milk contain around 18% to 20%.
Application Insights:
The candles application segment led the global natural wax and paraffin candles market in 2017. The growth of this segment can be attributed to increasing use of decorative candles for ambience purposes in homes, hotels, restaurants and other commercial places. Moreover, these products are gaining popularity as they offer better heat dissipation properties than traditional wicks which makes them suitable for use in electric candle warmers.
The pharmaceutical industry is anticipated to emerge as the fastest-growing segment over the forecast period owing to rising demand for various healthcare products including ointments, creams & lotions along with medical devices such as inhalers & metered dose inhalers (MDIs). Paraffin wax based devices have been proven effective compared to their counterparts made using animal or plant oils due to their consistent performance across a wide range of temperatures without exhibiting any change in performance levels.
Regional Analysis:
North America was the largest market for natural wax and paraffin candles, accounting for a share of more than 30.0% in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand from end-use industries such as pharmaceutical, food and beverage, cosmetics among others.
Europe is anticipated to be one of the major consumers of these candles owing to high importance attached by most European countries toward environment friendly products coupled with growing trend towards sustainable living which has led them adopt alternative sources of energy such as solar energy for lighting purposes. This factor is also expected drive regional product demand over next eight years.
Growth Factors:
- Increasing demand for natural and environment-friendly products: The global market for natural wax and paraffin candles is expected to grow at a CAGR of more than 5% during the forecast period. This is primarily owing to the increasing demand for natural and environment-friendly products across the globe.
- Rising disposable income of consumers: The growth of the global market for natural wax and paraffin candles is also driven by rising disposable incomes of consumers, especially in developing countries such as China and India.
- Growing popularity of aromatherapy: Aromatherapy, which involves using essential oils extracted from plants to improve physical or psychological health, is gaining popularity across the globe. This is driving demand for scented candles, which are made with natural waxes such as soybean oil or beeswax, thereby boosting growth of the global market for natural wax and paraffin candles.
- Technological advancements: Rapid technological advancements have led to development of new types of candles that are made with different types of waxes such as palm oil or coconut oil apart from traditional materials like soybean oil or beeswax used in manufacturing scented candles These new varieties are becoming popular among consumers due to their unique fragrance offerings .This is propelling growth prospects fo rthe global market f o rnatural w ax an dparaffi ncandles .
Scope Of The Report
Report Attributes
Report Details
Report Title
Natural Wax and Paraffin Candles Market Research Report
By Type
Bees Wax, Whale Fat, Soy Wax, Palm Wax, Soy/Palm Blends, Paraffin Wax
By Application
Pharmaceutical, Food, Cosmetics, Candles, Industry (Fabric, Ink, Lubricant), Others
By Companies
Exxon Mobil Corporation, Royal Dutch Shell PLC, Sasol Limited, The Lubrizol Corporation, Petróleo Brasileiro S.A, Honeywell International, Akzo Nobel N.V, Evonik Industries, Hexion Inc, CNPC, EPChem, Shell
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global Natural Wax and Paraffin Candles Market Report Segments:
The global Natural Wax and Paraffin Candles market is segmented on the basis of:
Types
Bees Wax, Whale Fat, Soy Wax, Palm Wax, Soy/Palm Blends, Paraffin Wax
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Pharmaceutical, Food, Cosmetics, Candles, Industry (Fabric, Ink, Lubricant), Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Exxon Mobil Corporation
- Royal Dutch Shell PLC
- Sasol Limited
- The Lubrizol Corporation
- Petróleo Brasileiro S.A
- Honeywell International
- Akzo Nobel N.V
- Evonik Industries
- Hexion Inc
- CNPC
- EPChem
- Shell
Highlights of The Natural Wax and Paraffin Candles Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Bees Wax
- Whale Fat
- Soy Wax
- Palm Wax
- Soy/Palm Blends
- Paraffin Wax
- By Application:
- Pharmaceutical
- Food
- Cosmetics
- Candles
- Industry (Fabric, Ink, Lubricant)
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Natural Wax and Paraffin Candles Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Natural wax and paraffin candles are made from a blend of beeswax, soy wax, and other plant-based ingredients. They're typically more expensive than traditional candles, but they have a longer burn time and are environmentally friendly.
Some of the major players in the natural wax and paraffin candles market are Exxon Mobil Corporation, Royal Dutch Shell PLC, Sasol Limited, The Lubrizol Corporation, Petr³leo Brasileiro S.A, Honeywell International, Akzo Nobel N.V, Evonik Industries, Hexion Inc, CNPC, EPChem, Shell.
The natural wax and paraffin candles market is expected to grow at a compound annual growth rate of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Natural Wax and Paraffin Candles Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Natural Wax and Paraffin Candles Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Natural Wax and Paraffin Candles Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Natural Wax and Paraffin Candles Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Natural Wax and Paraffin Candles Market Size & Forecast, 2018-2028
4.5.1 Natural Wax and Paraffin Candles Market Size and Y-o-Y Growth
4.5.2 Natural Wax and Paraffin Candles Market Absolute $ Opportunity
Chapter 5 Global Natural Wax and Paraffin Candles Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Natural Wax and Paraffin Candles Market Size Forecast by Type
5.2.1 Bees Wax
5.2.2 Whale Fat
5.2.3 Soy Wax
5.2.4 Palm Wax
5.2.5 Soy/Palm Blends
5.2.6 Paraffin Wax
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Natural Wax and Paraffin Candles Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Natural Wax and Paraffin Candles Market Size Forecast by Applications
6.2.1 Pharmaceutical
6.2.2 Food
6.2.3 Cosmetics
6.2.4 Candles
6.2.5 Industry (Fabric
6.2.6 Ink
6.2.7 Lubricant)
6.2.8 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Natural Wax and Paraffin Candles Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Natural Wax and Paraffin Candles Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Natural Wax and Paraffin Candles Analysis and Forecast
9.1 Introduction
9.2 North America Natural Wax and Paraffin Candles Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Natural Wax and Paraffin Candles Market Size Forecast by Type
9.6.1 Bees Wax
9.6.2 Whale Fat
9.6.3 Soy Wax
9.6.4 Palm Wax
9.6.5 Soy/Palm Blends
9.6.6 Paraffin Wax
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Natural Wax and Paraffin Candles Market Size Forecast by Applications
9.10.1 Pharmaceutical
9.10.2 Food
9.10.3 Cosmetics
9.10.4 Candles
9.10.5 Industry (Fabric
9.10.6 Ink
9.10.7 Lubricant)
9.10.8 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Natural Wax and Paraffin Candles Analysis and Forecast
10.1 Introduction
10.2 Europe Natural Wax and Paraffin Candles Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Natural Wax and Paraffin Candles Market Size Forecast by Type
10.6.1 Bees Wax
10.6.2 Whale Fat
10.6.3 Soy Wax
10.6.4 Palm Wax
10.6.5 Soy/Palm Blends
10.6.6 Paraffin Wax
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Natural Wax and Paraffin Candles Market Size Forecast by Applications
10.10.1 Pharmaceutical
10.10.2 Food
10.10.3 Cosmetics
10.10.4 Candles
10.10.5 Industry (Fabric
10.10.6 Ink
10.10.7 Lubricant)
10.10.8 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Natural Wax and Paraffin Candles Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Natural Wax and Paraffin Candles Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Natural Wax and Paraffin Candles Market Size Forecast by Type
11.6.1 Bees Wax
11.6.2 Whale Fat
11.6.3 Soy Wax
11.6.4 Palm Wax
11.6.5 Soy/Palm Blends
11.6.6 Paraffin Wax
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Natural Wax and Paraffin Candles Market Size Forecast by Applications
11.10.1 Pharmaceutical
11.10.2 Food
11.10.3 Cosmetics
11.10.4 Candles
11.10.5 Industry (Fabric
11.10.6 Ink
11.10.7 Lubricant)
11.10.8 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Natural Wax and Paraffin Candles Analysis and Forecast
12.1 Introduction
12.2 Latin America Natural Wax and Paraffin Candles Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Natural Wax and Paraffin Candles Market Size Forecast by Type
12.6.1 Bees Wax
12.6.2 Whale Fat
12.6.3 Soy Wax
12.6.4 Palm Wax
12.6.5 Soy/Palm Blends
12.6.6 Paraffin Wax
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Natural Wax and Paraffin Candles Market Size Forecast by Applications
12.10.1 Pharmaceutical
12.10.2 Food
12.10.3 Cosmetics
12.10.4 Candles
12.10.5 Industry (Fabric
12.10.6 Ink
12.10.7 Lubricant)
12.10.8 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Natural Wax and Paraffin Candles Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Natural Wax and Paraffin Candles Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Natural Wax and Paraffin Candles Market Size Forecast by Type
13.6.1 Bees Wax
13.6.2 Whale Fat
13.6.3 Soy Wax
13.6.4 Palm Wax
13.6.5 Soy/Palm Blends
13.6.6 Paraffin Wax
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Natural Wax and Paraffin Candles Market Size Forecast by Applications
13.10.1 Pharmaceutical
13.10.2 Food
13.10.3 Cosmetics
13.10.4 Candles
13.10.5 Industry (Fabric
13.10.6 Ink
13.10.7 Lubricant)
13.10.8 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Natural Wax and Paraffin Candles Market: Competitive Dashboard
14.2 Global Natural Wax and Paraffin Candles Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Exxon Mobil Corporation
14.3.2 Royal Dutch Shell PLC
14.3.3 Sasol Limited
14.3.4 The Lubrizol Corporation
14.3.5 Petróleo Brasileiro S.A
14.3.6 Honeywell International
14.3.7 Akzo Nobel N.V
14.3.8 Evonik Industries
14.3.9 Hexion Inc
14.3.10 CNPC
14.3.11 EPChem
14.3.12 Shell
