Candle Market Share, Size, Trends, Industry Analysis Report, Product (Votive, Pillars, Tapers, Container Candle); By Wax Type; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 119
- Format: PDF
- Report ID: PM3170
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global candle market was valued at USD 15.13 billion in 2023 and is expected to grow at a CAGR of 6.20% during the forecast period.Government regulations in a way influenced the growth of the candle market as a part of Digital India. In India, there are now significantly more people accessing the internet and using mobile devices. 830 million internet connections were present worldwide in 2021 as a direct result of the "Digital India" effort. In metropolitan areas, which made up 55% of the total, the percentage of users of wireless internet grew to 97 percent. This created an enormous amount of people involved in e-commerce, this caused an increase in spending of products online. Online sales have been growing rapidly in recent years, and the candle market has not been immune to this trend. Many people now buy candles online rather than in physical stores. In a way it is providing plenty of opportunities for the growth of the candle market.
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Industry Dynamics
Growth Drivers
An increasing number of customers are purchasing online, spending more time at home looking for entertainment and a comfortable atmosphere, and spending more money on home renovation and decoration as self-care and mental well-being become more widely understood. Since some smells have been shown to boost mood, The Dubrovnik Times reports that many people began using candles as part of their self-care routines in 2021. The commercial use of candles has increased over the past few years, with many spas and massage facilities employing candles infused with essential oils for a calming effect. A significant demand for candles is being created by the expanding popularity of spas and aromatherapy.
The candle market has seen growth in recent years due to a variety of factors. Some of these include, an increase in demand for home fragrance products. Candles are often used to create a pleasant aroma in a room, and more people are looking for ways to improve the ambiance of their homes. The rise of the wellness and self-care industries will fuel the growth of the market As Candles are often used in meditation, yoga, and other self-care practices, and as these industries have grown, so has the demand for candles. The popularity of scented candles will further propel the demand as scented candles are becoming more popular as people look for new and interesting fragrances to add to their homes.
The growth of the e-commerce market is creating plenty of opportunities for the market. Online sales have been growing rapidly in recent years, and the candle market has not been immune to this trend. Many people now buy candles online rather than in physical stores. The trend of DIY and handmade candles is likely to propel the growth of the market. Many people are starting to make their own candles at home, either as a hobby or to create unique and personalized products.
Report Segmentation
The market is primarily segmented based on product, wax type, distribution channel and region.
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By Product |
By Wax Type |
By Distribution Channel |
By Region |
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Votive Product Type is expected to witness fastest growth in 2022
Votive candles can influence the growth of the candle market by appealing to consumers who are looking for small, affordable candles for use in religious or spiritual practices, such as prayer or meditation. They can also appeal to customers who are looking for decorative candles for use in home decor or special events. Additionally, votive candles are often sold in large quantities, which can help drive sales for manufacturers and retailers. Overall, the popularity of votive candles can lead to increased demand and growth in the candle market.
Pillars, tapers, and container candles can also influence the growth of the candle market by appealing to different segments of consumers. Pillars are tall, cylindrical candles that can be used to create a dramatic focal point in a room or event. They are popular for use in home decor and can be used to create a relaxing and ambiance in a room. Tapers are long, thin candles that are typically used in formal settings or for special occasions. They are often used as table centerpieces or as part of a candlelight dinner.
Tapers can add elegance and sophistication to any setting. Container candles are candles that are poured into a container, such as a jar or tin. They are popular for their versatility and can be used in a variety of settings, from homes to offices to outdoor spaces. Container candles are often scented and come in a wide variety of colors and designs, which can appeal to a wide range of customers. All of these types of candles can influence the growth of the candle market by appealing to different segments of consumers with different preferences, needs and occasions. They also allow for different price points and can be sold through various channels, which can help increase demand and drive growth for manufacturers and retailers.
Beeswax accounted for having the largest market share in 2021
Beeswax is generally considered to be a more environmentally friendly and sustainable alternative to paraffin wax in the candle-making industry. This can potentially have a positive effect on the growth of the candle market for manufacturers and retailers who use beeswax in their products. Paraffin, a by-product of petroleum, is a widely used wax in the candle-making industry because of its low cost and easy availability. However, it has also been found to have negative environmental and health impacts. This can potentially affect the growth of the candle market by turning some consumers away from products made with paraffin wax.
Paraffin wax is known to release toxic fumes when it burns and can also release harmful chemicals into the air when it is heated. This can be especially concerning for people with respiratory issues or allergies. Furthermore, the production and disposal of paraffin wax can have negative environmental impacts. As a result, more and more consumers are becoming conscious about the environmental and health impacts of the products they purchase. They are turning to eco-friendly and natural alternatives such as soy wax, beeswax, and palm wax.
This trend can potentially slow down the growth of the candle market for manufacturers who rely heavily on paraffin wax. On the other hand, manufacturers who offer eco-friendly and natural alternatives may see an increase in sales and growth in the candle market. As a result, the use of paraffin wax may have both a positive and negative impact on the growth of the candle market, depending on the approach of the manufacturers and retailers in the industry.
Offline distribution channel is expected to hold the significant revenue share during forecast period
Offline distribution channels, such as physical retail stores, can have a significant impact on the growth of the candle market. Physical retail stores, such as department stores, home goods stores, gift shops, and specialty stores, provide consumers with the opportunity to see and smell the candles before purchasing them. This can be particularly important for consumers who are looking for a specific scent or color. Additionally, physical stores can also provide customers with the opportunity to see how the candles will look in their home, which can help them make a more informed purchase decision.
Physical stores also offer a wider range of candles, which can be a big advantage for manufacturers and retailers. They can showcase different sizes, colors, shapes, scents and prices, which can help to increase the sales and attract different segments of customers. Furthermore, offline distribution channels can also provide a sense of trust and reliability to the consumers. When they see the products in physical stores, they are more likely to trust the quality of the products and the authenticity of the brand. Overall, offline distribution channels such as physical retail stores can play a significant role in driving growth in the candle market by providing consumers with the opportunity to see, smell, and experience the candles before purchasing them and by providing a wider range of choices for the customers
The demand in North America is expected to witness significant growth during projected timeframe
North America is expected to have a higher growth rate as winter approaches, there is a greater demand for candles. People might get relief from their daily stress and problems by lighting fragrant candles. The self-care movement is the main factor driving the increase in candle demand in this area. Retailers have been working on maintaining a stable supply of seasonal smells to maintain consistent sales throughout the year, according to glass packaging company Glasnow, in 2021. In North America, candles are commonly used in home decor, aromatherapy and as gifts. The region has a high demand for candles, particularly in the United States, which is the largest market for candles in the region. This is due to several factors, including a strong consumer culture, a high standard of living, and a large population.
North America is also home to many candle manufacturers and retailers, which can provide a wide range of products to customers. The region has a highly developed and diversified economy, which can help to support the growth of the candle market. Additionally, North America has a large and growing e-commerce market, which can provide manufacturers and retailers with new opportunities to reach customers and increase sales. Overall, the North American market can have a significant impact on the growth of the candle market by providing a large and growing consumer base, a wide range of products, and a supportive economic environment. The region's consumers are also increasingly looking for eco-friendly and natural alternatives, which can also drive the market growth in that direction.
Competitive Insight
Some of the major players operating in the global market include Circle E Candles, Bath & Body Works Direct, Bridgewater Candle Company, Better Homes & Gardens, Colonial Candle, Diptyque, MALIN+GOETZ, NEST Fragrances, Yankee Candle Company, Conscious Candle, Contract Candles & Diffusers, Ellis Brooklyn, TRUDON ,& Le Labo.
Recent Developments
- In January 2022, The Estee Lauder Companies (ELC) the UK & Ireland, introduced “Voice-Enabled Makeup Assistant”, an AI based mobile app. It was created to assist people with visually impairment to apply for make-up more confidently & easily. The goal of ELC's launch of VMA is to assist the visually impaired community by facilitating the self-expression.
- In January 2023, TOM FORD brand, acquired by ELC according to a release from the company. The acquisition of the TOM FORD trademark by the ELC and the extension of its existing license agreements would enable continuity & the ongoing development of the “TOM FORD” brand as one of the leading luxury brands.
Candle Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 16.4 billion |
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Revenue forecast in 2032 |
USD 26.55 billion |
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CAGR |
6.20% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019 - 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Product, By Wax Type, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Bath & Body Works Direct, 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, Conscious Candle Company, Contract Candles & Diffusers, Ellis Brooklyn, TRUDON and Le Labo. |
FAQ's
The global candle market size is expected to reach USD 26.55 billion by 2032.
Key players in the candle market are Circle E Candles, Bath & Body Works Direct, Bridgewater Candle Company, Better Homes & Gardens, Colonial Candle, Diptyque, MALIN+GOETZ, NEST Fragrances.
North America contribute notably towards the global candle market.
The global candle market expected to grow at a CAGR of 6.45% during the forecast period.
The candle market report covering key segments are product, wax type, distribution channel and region.
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