The latest report by IMARC Group, titled “Candle Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the candle market forecast. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global candle market size reached US$ 9.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.24% during 2024-2032.
Candle Market Trends:
The global market is primarily driven by the rising consumer interest in home decor and aromatherapy. Moreover, increasing disposable incomes allow consumers to spend more on luxury and lifestyle products, which include candles. The trend towards wellness and self-care also propels the demand for scented and therapeutic candles. Furthermore, the growing popularity of organic and eco-friendly products has led to a higher preference for natural candles manufactured from soy, beeswax, and other sustainable materials.
Additionally, candles are being used more frequently in festive and religious ceremonies, further driving their sales. The expansion of e-commerce platforms has facilitated easier access to a diverse range of candles, attracting a broader consumer base. Besides, innovative product offerings such as personalized and customized candles enhance consumer appeal. Furthermore, the influence of social media and influencer marketing has significantly contributed to the increasing demand for aesthetically pleasing candles.
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Candle Market Scope and Growth Analysis:
The global market scope is expanding due to the increasing inclination towards luxury and premium candles, which are considered symbols of status and sophistication. Moreover, the diversification of candle applications beyond mere illumination to include home fragrances, therapeutic purposes, and ambiance settings has widened the market reach. The rise of experiential retail, where consumers seek unique in-store experiences, has also contributed to the market expansion. Additionally, the integration of candles with other wellness products, such as essential oils and diffusers, presents new opportunities for market growth.
Furthermore, the customization trend, offering consumers the ability to personalize candle scents and designs, enhances market attractiveness. The increase in online retailing and global e-commerce penetration makes candles accessible to a wider audience, propelling market scope. Besides, strategic collaborations and partnerships between candle manufacturers and other lifestyle brands are facilitating cross-promotional opportunities and expanding market boundaries. The market also benefits from a growing awareness of the benefits of aromatherapy and the psychological impact of scents, encouraging higher consumption of scented candles.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Bath & Body Works Direct Inc.
- Bridgewater Candle Company
- Circle E Candles Inc.
- Contract Candles & Diffusers Ltd.
- Diptyque
- Empire Candle Co. LLC
- Malin +Goetz Inc.
- Mvp Group International Inc.
- C. Johnson & Son Inc.
- Stonewall Kitchen
- The Estee Lauder Companies Inc.
- The White Company
- The Yankee Candle Company (Newell Brands)
- Thymes LLC
Candle Market Segmentation:
Our report has categorized the market based on region, product, wax type, and distribution channel.
Breakup by Product:
- Votive
- Container candle
- Pillars
- Tapers
- Others
Breakup by Wax Type:
- Paraffin
- Soy wax
- Beeswax
- Palm wax
- Others
Breakup by Distribution Channel:
- B2B
- B2C
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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