Candle Market
Candle Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Candle Market is segmented by Product, Wax Type, Distribution Channel, and by Region. KDMI analyst foresees market revenue to cross USD 22.61 Billion by 2032 by growing with a CAGR of 6.1% during 2024-2032.
Candle Market Highlights
The global candle market is expected to cross a value of USD 22.61 billion by the end of 2032. The market was valued at USD 14.25 billion in 2023 and is expected to expand at a CAGR of 6.1% between 2024-2032.
- Over the mid-term, the growing consumption of candles as an aesthetic-appealing product is the primary factor anticipated to drive the global candle market.
- The rise in concerns for health and safety associated with candles is a major factor to challenge the market growth.
- The North America candle market is projected to dominate the global market.
Candle Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 14.25 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 22.61 Billion |
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CAGR Value |
6.1% |
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Candle Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Candle Market Segmentation |
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Candle Market Key Players |
Bath & Body Works Direct, Inc., Better Homes & Gardens, Bridgewater Candle Company, Colonial Candle, Circle E Candles, Diptyque S.A.S., Jo Malone London, MALIN+GOETZ, NEST Fragrances, LLC, The Yankee Candle Company, Inc., Conscious Candle Company, Contract Candles & Diffusers Ltd., Ellis Brooklyn, TRUDON, Le Labo, and others. |
Candle Market Outlook
A candle is a self-contained source of light consisting of a wick embedded in wax or another flammable solid substance. Candles have been used for thousands of years, initially as a primary source of light before the advent of electricity. They are commonly made from paraffin wax, although other materials such as beeswax, soy wax, and tallow can also be used.
According to our experts at KD Market Insights, the growing consumption of candles as an aesthetic-appealing product among millennials, especially females, for household applications is expected to drive the growth of the global candle market during the forecast period. Our researchers predict that the revenue generated from aesthetics by 2032 would reach somewhere near to USD 240 billion by 2032, registering a CAGR of around 13% during the forecast period. As candles are widely used as decorative items in homes, hotels, restaurants, and other commercial spaces to create ambiance, add warmth, and enhance the aesthetic appeal of interiors, hence, the demand for candles is expected to increase, thereby contributing to the market growth. Bath & Body Works Direct, Inc., Better Homes & Gardens, and Bridgewater Candle Company are some of the significant parties in the global market for candle.
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Candle Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global candle market are:
- Rise in Adoption of Natural and Soy-Based Candles: Candles made with synthetic fragrances and toxins have negative benefits on health. With growing awareness about self-care and mental well-being, candle therapy has been gaining much traction. Hence, consumers are shifting towards natural and soy-based candles, which are used to relieve back pain, osteoarthritis, headache, and anxiety among others. The naturally scented candles also create a beautiful and aromatic ambience, and hence, finds great significance in celebrations, religious ceremonies, get-togethers, and festivals.
- Growing Interests of Consumers for Holistic Wellness: The rise in interests among consumers for holistic wellness practices has resulted in an increase in demand for scented candles, particularly those infused with essential oils. Consumers are drawn to candles with specific fragrances believed to promote relaxation, stress relief, or mood enhancement. Hence, candle makers are constantly innovating with unique designs, colors, and scents of candles. Such a factor is therefore expected to drive the market growth.
Which Probable Factors Could Hamper the Growing Candle Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of candle are:
- Growing Concerns for Health and Safety: Although, candles are highly popular, yet there are concerns about indoor air quality and health hazards associated with burning paraffin wax. Additionally, safety issues related to fire hazards, particularly when candles are left unattended, is also expected to limit the demand for the product.
- Rise in Demand for Alternative Lighting Sources: With the decreasing costs of LED lights worldwide, consumers are shifting towards these alternative lighting sources from the conventional candles, as these lights offer convenience, safety, and long-term cost savings. Such a factor is therefore expected to hinder the market growth in the coming years.
How is the Global Candle Market Segmented?
Our experts at KD Market Insights have segmented the global candle market as:
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By Product |
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By Wax Type |
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By Distribution Channel |
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By Region |
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What are the Probable Factors Influencing the North America Candle Market Forecast?
The North America candle market is majorly driven by the rise in awareness of aromatherapy and its potential wellness benefits among individuals, along with the surge in preference among the consumers for candles made from natural and sustainable materials, such as soy wax, beeswax, and essential oils. In addition to this, the presence of a strong consumer base, along with a growing interest in home fragrance products to create inviting and personalized living spaces, are expected to contribute to the market growth for candles in the region.
As per our analysts at KD Market Insights, the following five players lead the North America candle market growth:
- Yankee Candle Company
- Bath & Body Works
- Chesapeake Bay Candle
- Diptyque
- Paddywax
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Key Countries to Watch for in North America Candle Market |
Key Insights |
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United States Candle Market to Register the Largest Regional Market Share |
USD 6.3 Billion |
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Canada Candle Market to Grow with the Highest CAGR During 2024-2032 |
6.5% |
Which Key Players Top the Global Candle Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global candle market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with candle market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global candle market share:
- Bath & Body Works Direct, Inc.
- Better Homes & Gardens
- Bridgewater Candle Company
- Colonial Candle
- Circle E Candles
- Diptyque S.A.S.
- Jo Malone London
- MALIN+GOETZ
- NEST Fragrances, LLC
- The Yankee Candle Company, Inc.
- Conscious Candle Company
- Contract Candles & Diffusers Ltd.
- Ellis Brooklyn
- TRUDON
- Le Labo
What are the Recent Developments Observed in the Candle Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global candle market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Balmain and Trudon shared that it has launched its limited edition version of its scented candle. This new scented candle has the scent that has been derived from Trudon’s popular Ernesto candle.
Further, Le Labo announced that it has launched a new home scent as part of its candle collection, known as Encens 9.
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- Publication date: 5th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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