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Candle Market Size, Growth, Analysis, 2025 | Industry Trends Report

Candle Market Analysis Report By Product, By Wax Type, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17619408  |  Published: April 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global candle market size was worth USD 3.45 billion in the year 2018. Candles have an aesthetic appeal that creates its demand among females and thus drives the market. Independent brands, fashion houses, and beauty retailers are focusing on launching new products to attract a larger customer base simultaneously satisfying the existing ones. The commercial value of candles has seen significant growth over the years, with the onset of massage centers and spa that use scented candles for a mild atmosphere. Similarly, fine dines and restaurants use the candles for an aromatic and a beautiful ambience.

The demand for organic candles has increased considerably for natural wax over the years. This is due to their non-carbon blackening effect. Moreover, the increasing awareness among the people for the negative impact of burning candles on the environment is motivating them to aim at lowering carbon footprint, thus further driving the demand for such candles. Synthetic candles consist of lead wicks, synthetic fragrance, and contaminated oil lead to indoor air pollution causing respiratory problems. The U.S. Environmental Protection Agency (EPA) concluded that extensive usage of Volatile Organic Compounds (VOCs) may lead to skin irritation, nausea, fatigue, dizziness, headache, irritated mood, runny nose, and even organ damage and cancer.

U.S. candles market

Candles are significantly found during religious ceremonies, celebrations, festivals, and get-togethers for a beautiful ambience coupled with a soothing atmosphere. The demand for candles is increasing especially in massage centers and other commercial places. Massage centers also have candle massage as a therapy popular among millennials. These products provide relief from back pain, headache, anxiety, and osteoarthritis.

Product Insights

The votive division accounted for a 25% market share, in 2018 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 like red, pink, yellow, purple, black, and many more. These are kept on a glass holder to make them more aesthetic during lighting.

Pillar forms are projected to register the fastest CAGR of 9.0% for the period of, 2019 to 2025, owing to their rising demand in parties and get-togethers. The longer burning capacity confirms a minimal replacement cost. They also have applications in interior decorations. Unlike the votive segment, holders aren’t required for them and are smokeless. Pillar forms can burn an inch of it for about one hour. 

Wax Insights

Paraffin held a market share of more than 30% for the year 2018, owing to its ability to mold into different shapes and a low cost. It is petroleum by product and is water-resistant, significantly used for producing floating candles. Moreover, the semi-translucent and colorless feature allows including colors giving it a decorative look.

Soy wax division is expected to grow at a CAGR of 8.5% over the forecast period. The wax is made up of a natural resource, and soybean with reduced carbon footprints. Soy burns slowly due to its high melting point, thus providing a long-lasting fragrance.

Distribution Channel Insights

Offline channel held the largest candle market share for the year 2018 attributed to high purchases from departmental and local stores in countries like China, Bangladesh, and India. Moreover, people prefer buying decorative materials from brick and mortar stores during festivals. The offline channel also gives an additive advantage to the customers for personal verification of the products.

Global candles market

Online channel has significant potential and is expected to grow in the future, owing to an increased usage of tablets and smartphones among millennials. This segment pertains to a variety of products with different brands at one go.

Regional Insights

North America held the largest candles market share in 2018, with a 30% share globally. It is expected to continue its lead owing to the festive season like Christmas and Easter. The product experiences a high demand for gifting, family gatherings, festivals, beauty and spa, and fine dining. Moreover, frequent product launches are expected to drive the market.

Asia Pacific is expected to grow at a CAGR of 9.2%, thus becoming the fastest expanding market over the forecast period. The growth is due to the increasing standards of living and the need for aesthetic candles among middle-income families in countries like Bangladesh, India, and China. The emerging number of restaurants and fine dining places is also driving the market. 

Candle Market Share Insights

The key players include Better Homes and Garden, Bath & Body Works, Bridgewater Candles, Circle E Candles, Colonial Candle, Diptyque, Malin + Goetz, Slatkin & Co., White Barn Candles, Village Candles, Yankee Candles, Thymes, and Jo Malone. The market is fragmented into different small and international players. A wide number of orphans and physically and mentally challenged workers are employed in candle manufacturing companies. China is a major hub for manufacturing color customized candles.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million& CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country Scope         

U.S., Germany, U.K., India, China, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional,and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global candle market report on the basis of product, wax type, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Votive
    • Container Candle
    • Pillars
    • Tapers
    • Others

• Wax Outlook (Revenue, USD Million, 2015 - 2025)
    • Paraffin
    • Soy Wax
    • Beeswax
    • Palm Wax
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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