The global Candle Market was appreciated at US$ 3.45 billion in 2018. The range is projected to touch US$ 6.06 billion by 2025, growing at a CAGR of 8.4% for the duration of the forecast. This could be attributed to the fact that candles are being looked upon as one of the decorative products as well. These days, fragrance and appearance are the two things people ask for.
Candles do exist in diverse shapes for catering to the clients’ customized demands. The ones mostly preferred are “scent-infused candles”. They are known to lighten the atmosphere. These candles also find their way to aromatherapy; so as to lessen stress. As such, aromatic candles do help in management of tension and physical stress.
The candle market is segmented based on type, raw material, and geography. By type, the candles industry spans votive, wax filled container candles, cartridge candles, birthday candles, pillars, and tea lights. By raw material, the candle industry states stearin, palm wax, rapeseed wax, paraffin wax, beeswax, soy wax, and others. By geography, it says North America (Canada, U.S., and the rest of North America), Europe (Germany, UK, France, and the rest of Europe), Asia Pacific (India, China, Japan, and the rest of Asia Pacific), MEA (South Africa, GCC, and the rest of MEA), and LATAM (Brazil and the rest of LATAM).
North America rules the market due to candles being extensively used on various occasions as the mark of embellishments. Europe comes in second. Asia Pacific and LATAM are slowly catching up due to increasing usage of candles as adornments. Plastic ban in economies like India is also driving the market for candles; as the glitters could be replaced by candles taking various shapes.
The players contributing to the candles market include Hansa Candle AS, Korona Candles S.A., Contract Candles Ltd., Duni AB, Delsbo Candle AB, Vollmar GmbH, Bolsius International BV, Ceras Roura, and Candle Scandinavia Group AB. These players, along with a string of local ones, are emphasizing on inorganic growth. In other words, they are entering into joint ventures, mergers & acquisitions, partnerships to make inroads to the local market. Besides, e-Commerce sites are encouraging the sales of candles at a higher scale.
Candle Product Outlook (Revenue, USD Million, 2015 - 2025)
• Container Candle
Candle Wax Outlook (Revenue, USD Million, 2015 - 2025)
• Soy Wax
• Palm Wax
Candle Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Candle Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)
• South Africa
Research Support Specialist, USA