A candle is a flammable wick made of wax that provides light. A wick is inserted into a wax block to form a candle. It produces light and heat when lit, as well as the sporadic release of a scent. The Home Decoration and Home Textiles (HDHT) sector frequently include candles in its classification of home accessories. Candles have historically been used primarily to create atmosphere through their light, heat, and aroma. The majority of candles are made from paraffin wax. Among the many basic components are beeswax, soy, and other plant waxes. As a more environmentally friendly raw ingredient, though not without controversy, palm oil has grown in popularity. The commercial use of candles has increased over the past few years, with most spa and massage facilities turning to scented candles for their calming effects. In a similar vein, fine dining establishments and restaurants are increasingly utilizing the product to give their patrons a stunning and enticing atmosphere.
According to Marketlook
Consulting’s research report “Global Candle Market Analysis,
2021”, the Global Candle market is anticipated to grow at a CAGR of
5.6% during 2022-29 The market would reach USD 11.29 Bn by 2029.
Based
on Product Type, there are Votives, Pillars, Scented, and Others. Due to their
capacity for slow-burning, votive candles grabbed the major market share in
2021, Moreover, the segment would witness the considerable CAR during the
forthcoming years as well.
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Based
on the Wax Type, the Candle market is divided into Beeswax, Paraffin, Palm Wax,
and Others. In 2021, paraffin captured the significant market share owing to
its low price and versatility as a moldable type of wax.
“Global Candle Market Analysis,
2021” provides comprehensive
qualitative and quantitative insights on the industry potential, key factors
impacting sales and purchase decisions, hotspots, and opportunities available
for Candle providers across the Globe. Moreover, the report also encompasses
the key strategic imperatives for success for competitors along with strategic
factorial indexing measuring competitors’ capabilities on 16 parameters. This
will help companies in the formulation of Go to Market Strategies and
identifying the blue ocean for its
offerings.
North America Dominated the Market
The
largest market, which accounted for more than 30% of global revenue, was North
America. Due to rising product demand during holiday seasons like Easter and
Christmas, the region is anticipated to keep leading shortly. It is anticipated
that strong demand for the product will have a positive impact on the growth
when used for family get-togethers, fine dining, and spa treatments. The market
is being driven by well-known candle manufacturing companies and frequent
product launches in the United States. Giving candles as gifts at festivals and
other special occasions is another trend that is driving the market in the US
as stated in the Marketlook Consulting research report “Global
Candle Market Analysis, 2021”.
According
to Marketlook Consulting’, the key players with a considerable
market share in the global Candle market are Portmeirion Group PLC, Newell
Brands, MVP Group International, Inc., Estée Lauder Companies Inc., Diptyque
Paris, Lalique Group SA, NEST New York, Thymes, LLC, Bath & Body Works,
Bridgewater Candles.
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Market Segmentation:
- By Product Type
(Votive, Pillars, Scented,
Others)
- By
Wax Type (Beeswax,
Paraffin, Palm Wax, Others)
- By
Distribution Channel (Offline,
Online)
- By
Region (North America, Europe,
Asia-Pacific, South America, Middle East, and Africa)
- By
Company (Portmeirion Group PLC, Newell
Brands, MVP Group International, Inc., Estée Lauder Companies Inc.,
Diptyque Paris, Lalique Group SA, NEST New York, Thymes, LLC, Bath &
Body Works, Bridgewater Candles)
Key questions answered in the study:
- What
are the current and future trends of the Candle industry?
- How
the industry has been evolving in terms of product and wax type?
- How
the competition has been shaping across the countries followed by their
comparative factorial indexing?
- What
are the key growth drivers and challenges for the Candle industry?
- What
is the customer orientation, purchase behavior, and expectations from the
Candle firms across various regions?
About Us:-
Marketlook
Consulting is a world market intelligence and
consulting firm that aims to offer business insights and market research
reports to large as well as small & medium scale enterprises (SMEs). The
company helps its clients to design business strategies and policies and
accomplish sustainable growth in their relevant market area.
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