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The growing presence of candle manufactures in Vietnam and increasing consumer’s disposable income are two key factors augmenting the demand for candle in this country. The candle has been an integral part of Vietnam’s traditions, and it still witnesses strong demand in Vietnam, not just for lighting and conventional purposes but for a set of new purposes such as for home fragrance, home decor, gifting, and others.
Further, rising consumption of candles in cultural applications, adoption of the candle as a home decor product and luxury gift item is backing the growth of candle market in the Philippines.

Market Insights

Growth Drivers – Vietnam & Philippines Candle Market

Macro-Economic Indicators: Measuring Quality of Life

Rising per capita income of the population is anticipated to impact the growth of Vietnam candle market positively. In Vietnam, per capita, income trend exhibits that the population is getting more affluent on an annual basis owing to the growing employment rate. Moreover, people are willing to spend more on home decor products. Given these circumstances, Vietnam candle market is poised to witness healthy growth in the years ahead. In addition to this, growing Vietnam culture tourism is anticipated to positively impact the demand for candles as cultural objects are required for promoting cultural values.

Burning Up: Rising Consumption of Candles For Home Decor

In the modern era of electric lights, candles have almost lost their function as a source of light. However, candles have reemerged as popular home decor and are being increasingly used in the home as for therapeutic and relaxing effects. Further, the launch of multiple fragrances of the candle is helping candles to vie more space in home décor and air-freshening store shelves. The demand for scented candles has showcased and upward in recent years on account of the growing willingness of consumers to increases the hominess of the room.

Barriers – Vietnam & Philippines Candle Market

Presence of Alternative to Scented Candles In the Market

Owing to rising indoor air quality concerns, consumers are looking for safer alternatives to satisfy their aromatic and pleasant ambiance needs. These alternatives include essential oils and simmer spices. Apart from this, essential oil offers various benefits as compared to scented candles, including cost-effectiveness, safer around kids and pets, no harmful chemicals, and others. Moreover, the essential oil market is set to grow at a faster pace as compared to scented candles market, which will negatively impact the growth of the candle market.

Segmentation Analysis

Vietnam & Philippines candle market is segmented into candle type, raw material, price range, and distribution channel. Based on candle type, the market is segmented into pilar candle, taper candle, votives, tea lights, floaters, and others. In the raw material segment, Vietnam & Philippines candle market is sub-segmented into paraffin wax, soy wax, gel wax, beeswax, palm wax, and others.
Also, the market is segmented on the basis of price range into low price, mid-price, and high price. Moreover, based on the distribution channel, Vietnam & Philippines candle market is further sub-segmented into online stores and offline stores.

Competitive Analysis

The report also covers detailed competitive analysis of major market players of Vietnam candle market, such as Creative Lights Viet Nam Corporation, Universal Candle Vietnam Corporation, Fleming International Vietnam Ltd., Yankee Candle, Caro Candles Company Limited, Peony Home, Nguyen Quang Minh Candle, Vietnam International Victory Co. Ltd. and other major & niche players.
Also, Philippines candle market report covers the detailed competitive analysis of major players, which include Vayao Wax Manufacturing Inc., Doc's Candles, Alice Blue Candle, FAVORI, The Candleroom, Bath & Body Works Direct, Inc., Happy Island Candle Co., Yankee Candle Philippines and other major & niche players.

Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period

Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the Vietnam & Philippines candle market by the following segments:
- Candle Type
- Raw Material
- Price Range
- Distribution Channel

Customization: We also offers customization’s in the industry report as per the company’s specific needs.

Key Questions Answered in the Vietnam & Philippines Candle Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?

Vietnam & Philippines Candle Market, 2018-2024, is a market research report by KD Market Insights that offers extensive and highly detailed current and future market trends in the market. The report offers market size and structure of the overall industry based upon a unique combination of industry research, fieldwork, market sizing analysis, and our in-house expertise.

The market research report demonstrates market dynamics including growth drivers, barriers and opportunities and trends spearheading current nature and future status of this market. The report is supplemented with various indicators which are believed to propel the growth of the market during the forecast period.
In Addition, Porter’s Five Forces analysis demonstrates the five forces i.e. buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in Vietnam & Philippines candle market. The report also offers value chain analysis for the Vietnam & Philippines candle market.

Vietnam & Philippines Candle Market Size & Forecast

Vietnam candle market is expected to reach USD 55.3 Million by the end of 2024 from USD 48.2 Million in 2018 and is predicted to thrive at a CAGR of 2.4% over the forecast period. In terms of value, Philippines candle market is expected to mark a valuation of USD 35.4 Million by 2024 by growing at a CAGR of 1.9% throughout the forecast period i.e. 2019-2024.

Market Analysis by Segments:

By Candle Type:
- Pilar Candle
- Taper Candle
- Votives
- Tea Lights
- Floaters
- Others

By Raw Material:
- Paraffin Wax
- Soy Wax
- Gel Wax
- Beeswax
- Palm Wax
- Others

By Price Range:
- Low Price
- Mid-Price
- High Price

By Distribution Channel:
- Online Stores
- Offline Stores
- Specialty or Gift Shops
- Home Decor Stores
- Others

Along with figures and tables, a market attractiveness and BPS analysis has been provided for every segment in the report.

Vietnam & Philippines Candle Market: Competitive Landscape

The report profiles various major market players of Vietnam candle market;

- Creative Lights Viet Nam Corporation
- Universal Candle Vietnam Corporation
- Fleming International Vietnam Ltd.
- Yankee Candle
- Caro Candles Company Limited
- Peony Home
- Nguyen Quang Minh Candle
- Vietnam International Victory Co. Ltd.
- Other Major & Niche Players

Also, the report profiles various major market players of Philippines candle market:

- Vayao Wax Manufacturing Inc.
- Doc's Candles
- Alice Blue Candle
- FAVORI
- The Candleroom
- Bath & Body Works Direct, Inc.
- Happy Island Candle Co.
- Yankee Candle Philippines
- Other Major & Key Players

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in Vietnam & Philippines candle market.

Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary

2. Growth Drivers & Issues in Candle Market

2.1. Vietnam Candle Market
2.2. Philippines Candle Market

3. Candle Market Trends

3.1. Vietnam Candle Market
3.2. Philippines Candle Market

4. Opportunities in Candle Market

4.1. Vietnam Candle Market
4.2. Philippines Candle Market
5. Porter's Five Forces Analysis
6. Market Value Chain Analysis
Part A
7. Vietnam Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024

7.1. Vietnam Candle Market Segmentation Analysis, By Candle Type
7.1.1. Introduction
7.1.2. Market Attractiveness, By Candle Type
7.1.3. BPS Analysis, By Candle Type
7.1.4. Pillar Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.1.5. Taper Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.1.6. Votives Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.1.7. Tea lights Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.1.8. Floaters Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.1.9. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2. Vietnam Candle Market Segmentation Analysis, By Raw Material
7.2.1. Introduction
7.2.2. Market Attractiveness, By Raw Material
7.2.3. BPS Analysis, By Raw Material
7.2.4. Paraffin Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2.5. Soy Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2.6. Gel Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2.7. Beeswax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2.8. Palm Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.2.9. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.3. Vietnam Candle Market Segmentation Analysis, By Price Range
7.3.1. Introduction
7.3.2. Market Attractiveness, By Price
7.3.3. BPS Analysis, By Price
7.3.4. Low Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.3.5. Mid-Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.3.6. High Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.4. Vietnam Candle Market Segmentation Analysis, By Distribution Channel
7.4.1. Introduction
7.4.2. Market Attractiveness, By Sales Channel
7.4.3. BPS Analysis, By Sales Channel
7.4.4. Online Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.4.5. Offline Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.4.5.1. Specialty or Gift Shops Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.4.5.2. Home Decor Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
7.4.5.3. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024

8. Competitive Landscape
8.1. Company Profiles
8.1.1. Creative Lights Viet Nam Corporation
8.1.2. Universal Candle Vietnam Corporation
8.1.3. Fleming International Vietnam Ltd.
8.1.4. Yankee Candle
8.1.5. Caro Candles Company Limited
8.1.6. Peony Home
8.1.7. Nguyen Quang Minh Candle
8.1.8. Vietnam International Victory Co. Ltd.
Part B

9. Philippines Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1. Philippines Candle Market Segmentation Analysis, By Candle Type
9.1.1. Introduction
9.1.2. Market Attractiveness, By Candle Type
9.1.3. BPS Analysis, By Candle Type
9.1.4. Pillar Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1.5. Taper Candle Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1.6. Votives Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1.7. Tea lights Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1.8. Floaters Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.1.9. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2. Philippines Candle Market Segmentation Analysis, By Raw Material
9.2.1. Introduction
9.2.2. Market Attractiveness, By Raw Material
9.2.3. BPS Analysis, By Raw Material
9.2.4. Paraffin Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2.5. Soy Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2.6. Gel Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2.7. Beeswax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2.8. Palm Wax Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.2.9. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.3. Philippines Candle Market Segmentation Analysis, By Price Range
9.3.1. Introduction
9.3.2. Market Attractiveness, By Price
9.3.3. BPS Analysis, By Price
9.3.4. Low Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.3.5. Mid-Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.3.6. High Price Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.4. Philippines Candle Market Segmentation Analysis, By Sales Channel
9.4.1. Introduction
9.4.2. Market Attractiveness, By Sales Channel
9.4.3. BPS Analysis, By Sales Channel
9.4.4. Online Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.4.5. Offline Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.4.5.1. Specialty or Gift Shops Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.4.5.2. Home Decor Stores Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024
9.4.5.3. Others Market Value (USD Million), Market Volume (Million Unit) Forecast & Y-o-Y Growth Analysis, 2018-2024

10. Competitive Landscape
10.1. Company Profiles
10.1.1. Vayao Wax Manufacturing Inc.
10.1.2. Doc's Candles
10.1.3. Alice Blue Candle
10.1.4. FAVORI
10.1.5. The Candleroom
10.1.6. Bath & Body Works Direct, Inc.
10.1.7. Happy Island Candle Co.
10.1.8. Yankee Candle Philippines

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