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Candle Market By Candle Type (Pillar Candle, Taper Candle, Votives, Tea lights, Floaters, Others); By Sales Channel (Online Stores, Offline Stores, Specialty or Gift Shops, Department or Home Decor Stores, Mass Merchandise Retailers, Direct Sales); By Price (High, Medium, Low); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032

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Candle Market Overview and Definition

The candle market refers to the industry that produces and sells candles, which are wax-based products that are used for lighting, decoration, and aromatherapy. Candles come in a wide range of shapes, sizes, and colors, and are made from a variety of materials, including paraffin wax, soy wax, beeswax, and other natural and synthetic materials.

Candles have been used for centuries for a variety of purposes, including religious ceremonies, lighting, and decorative purposes. Today, candles are used in homes, restaurants, spas, and other settings for ambiance and relaxation, as well as for their fragrance and aromatherapy benefits.

The candle market is highly competitive, with many manufacturers producing and selling candles around the world. Some of the leading players in the market include Yankee Candle, Bath & Body Works, and Jo Malone. The market includes a wide range of candles, from basic white candles to luxury candles with high-end fragrances and designs.

The candle market is growing due to the increasing demand for home fragrance and aromatherapy products, as well as the trend towards natural and organic products. In addition, candles are also popular as gifts and are often used in special events and holidays.

The market is influenced by factors such as changing consumer preferences and trends, as well as regulatory requirements related to candle safety and environmental impact. For example, there is a growing demand for eco-friendly and sustainable candles, and regulations such as the EU Candle Directive and California Proposition 65 require certain safety measures to be taken in candle production and labeling.

Overall, the candle market is expected to continue to grow as consumers seek out new and innovative candle products for various purposes, including ambiance, relaxation, and aromatherapy.

The candle finds a range of applications in our lives. The candles have been used for heat, light, keeping time and in some cases, a fragrance. Candles these days have become indispensable accessories in both self-care and home decor flourish. The market for candles is growing constantly over the years and was totaled at a value of USD 7925.6 million in 2022. The global candle market is expected to thrive at a CAGR of 5.4% during the forecast period to reach a valuation of USD 11770.4 million by 2032.


Candle Market Growth Drivers & Restraints

There is an appreciable rise in the number of candle lovers across the globe. Presently candles are not being used just for the purpose of lighting but for other purposes such as gifting and decoration. Throughout the years, candles have gone through many delightful transformations. Today candles are available in various designs, shape, and sizes. Availability of different types of candles such as scented candles, floater candles, and others are attracting consumers towards them. Further, the rise in disposable income of consumers and rapidly changing lifestyles are acting as major factors which are allowing them to spend more on home décor and fragrance products, which in turn driving the sales of candles across the globe. Consumers are increasingly purchasing candles as a focal point for their home decor, and for aromatherapy-like relaxation and stress reduction.

Social media and other internet media options have aid sales and marketing channels become more transparent and near to consumer. These enhancements have increased sales of candles through online sales channels across the globe. In addition to this, the demand for luxury candles is sparking overall growth of the candles market. Consumers across the globe, especially in developed countries are considering luxury candles to be an always-acceptable and highly appreciated gift for a wide variety of occasions. The rising trend of gifting luxury candles is believed to be fostering the growth of the candle market in upcoming years. Apart from this, personalized candles is another trend which is likely to aid the growth of the global market in the future.

However, Candles market is one of the very un-organized markets which have a large number of local manufacturers and due to these private label products present a growing threat to branded products. This rise in the number of local manufacturers of candles is affecting the revenue of organized players in the market.


Global Candle Market 2022-2032: Market Size

Segmentation

The research offers a comprehensive analysis of Candle market with respect to following sub-markets:

By Candle Type

- Pillar Candle
- Taper Candle
- Votives
- Tea lights
- Floaters
- Others

By Sales Channel
- Online Stores
- Offline Stores
- Specialty or Gift Shops
- Department or Home Decor Stores
- Mass Merchandise Retailers
- Direct Sales

By Price

- High
- Medium
- Low

By Geography

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Competitive Landscape

The report profiles various major market players such as:

- The Yankee Candle Co., Inc.
- Colonial Candle
- White Barn Candles
- Slatkin & Co
- Bridgewater Candle Company
- VILLAGE CANDLE
- Trapp Fragrances
- Other Prominent 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, and recent news (acquisition, expansion, technology development, research & development and other market activities).

The study also provides company’s positioning and market share in Candle market.

Timeline Considered for Analysis:

- 2021: Base Year

- 2022: Estimated Year

- 2022 to 2032: Forecasted Year

Research Scope and Deliverables

Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries 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 global Candle market by the following segments:

- Sales Channel
- Price Range
- Candle Type

Geographic Market Analysis:

The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.

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

Key Questions Answered in the Global Candle Industry Report;

- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- 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?


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Booklet
  • Publication date: 11th January 2024
  • Base year: 2022
  • Forecast year: 2023-2033
  • Format: PDF, PPT,Word,Excel

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