Find out the Global Candle Market Research and Analysis 2021.
Over the past few years candles have gained popularity due to their aesthetic appeal that has created a demand among a huge population and thus, the candle market has experienced tremendous growth. Independent brands, fashion houses and beauty retailers are focusing on launching candles with various fragrances, shapes, sizes and colors to attract a larger customer base simultaneously catering to the existing ones. The commercial value of candles has seen major growth over the years, with the upsurge of massage centers and spas that use scented candles for a mild atmosphere and aromatherapy. Similarly, there is a rise in use of scented candles by fine diners and restaurants for an aromatic and beautiful ambiance. Moreover, candles have become a household accessory to have in homes. It has been reported that over 80% of U.S. consumers scent their homes with these candles that can lift the mood of any environment. The candle market experienced a big boom in the past few years as many influencers, celebrities, and brands now include candles as an aesthetic part of their personas online.
In terms of revenue, candle market was valued at US$ 3835.22 Mn in 2020 growing at a CAGR of 7.7% over the forecast period (2021 – 2029). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
Increased Demand for Personalized Candles Gifts for Various Occasions
As many industries are looking forward to provide their consumers with personalized products and becoming more popular, the candle industry is no exception. Customers nowadays want to have their personal stamp on candles, with the choice to design and customize based on their personal and professional desires. Customizing candles provides customers the opportunity to create their own aromatic experience, which has several benefits. For instance, Yankee Candle allows their customers to select their fragrance and add a personal photo or quote to the candle container. They also provide customized candles for birthdays, weddings, and other special occasions. The fashion is also gaining popularity in gifts for holiday season or celebratory occasions, like a housewarming or baby shower, where hosts want to leave their guests a gift associated with the occasion.
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Votives Candle Type Held the Highest Share in 2020
The votive type of candles accounted for the highest market share in 2020, due to its slow-burning capacity. These are about 5 cm tall with a width of 4 cm and are available in a variety of colors, shapes and sizes. These candles are widely being used in spa centers for aromatherapy and stress relieve as these candles offer a wide range of fragrances.
Scented Candles to Witness Fastest Growth over the Forecast Period
Scented candles have gathered huge demand in the global candle market over the recent years. A large population is now more inclined towards natural fragrant candles as they do not have carbon blackening effects. The growing demand for organic and eco-friendly candles, also called green candles, have encouraged manufacturers to diversify into products made of materials like bee wax and soy wax instead of paraffin. This trend has been observed in terms of fragrances that are incorporated in the candles. Moreover, manufacturers have been replacing chemical fragrant with natural, plant-based fragrances. Certain manufacturers have also been focusing on products that can eliminate smoke, smoke odor exterminator candles are one such product. Luxury candle companies are now focused on launching of specialized scented candles through online platforms to capitalize on the growing online sales of scented candles.
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Online platforms is Reported as the Fastest Growing Distribution Channel in Global Candle Market over the Forecast Period
In 2020, the candle market transformed to become a signature aspect of people’s quarantine experiences amidst the Covid-19 pandemic. E-commerce vendors have started marketing creatively designed candles with decorative shapes and sculptural crafting that created a spike in candles from consumers. Businesses are turning to E-commerce platforms to reach a bigger audience. For instance, Social media has also become a major platform for selling candles as these platforms expand their E-commerce offerings. Online platforms such as Facebook Marketplace and Instagram Shopping, has experienced unprecedented rise in people creating and launching their own E-commerce stores with website platforms like Shopify and Squarespace.
North America accounted for the Highest Share in the Global Candle Market
AMI reports that North America region held the highest share in the global candle market in 2020 due to increasing candle demand during the festive seasons such as Easter and Christmas. According to the data published in National Candle Association, 35% of candle sales are observed during the Christmas and holiday season. Scented candles along with different shapes are being used for family gatherings, fine dining, beauty and spa which is positively influencing the growth of the market. Moreover it was been observed that there was increase in the number of home improvement and renovation projects, which included luxury and scented candles for a better ambience and environment.
Some of the players operating in the candle market are Bath & Body Works, Inc, Bougies la Française, Bridgewater Candle Company, CALWAX, Colonial Candle, Fleurty Wick Candle Co., GALA GROUP GMBH, Le Labo, Paramold Manufacturing LLC, Scent Perfique Ltd, Stonewall Kitchen, THE HARROGATE CANDLE COMPANY, The Yankee Candle Company, Inc., theluxecandleco, and Voluspa amongst other industry participants.
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Global Candle Market
- By Candle Type
- Tea Lights
- Container and Jar Candles
- Floating Candles
- By Type
- By Candle Wax Type
- Paraffin Wax
- Soy Wax
- Palm Wax
- By Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- Home Décor Stores
- By Region
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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