Candle Market by Raw Material (Beeswax, Palm Wax, Paraffin Wax), Product (Container Candle, Pillars, Tapers), Distribution, End-User - Global Forecast 2024-2030
Description
Candle Market by Raw Material (Beeswax, Palm Wax, Paraffin Wax), Product (Container Candle, Pillars, Tapers), Distribution, End-User - Global Forecast 2024-2030
The Candle Market size was estimated at USD 9.03 billion in 2023 and expected to reach USD 9.60 billion in 2024, at a CAGR 6.30% to reach USD 13.85 billion by 2030.
Candles are primarily used for their aesthetic value and scent, mainly to set soft, warm emergency lighting during electrical power outages and for religious or ritual purposes. Traditionally, a candle's primary purpose has been to produce ambiance with its light, heat, and aroma. The increasing demand for aesthetically appealing products and the growing use of candles during the celebration of festivals are accelerating their use worldwide. Additionally, the growing trend of candle massages for relaxation purposes is expanding its use globally across spas and aromatherapy centers. However, the fluctuating cost of raw materials, adverse effects associated with exposure to harmful chemicals, compliance issues for candle production, and availability of flameless candles may limit their use by consumers. Moreover, the increasing availability of eco-friendly, scented, and innovative candle designs is expected to encourage their adoption by consumers across the globe.
Regional Insights
The candle market is rapidly evolving across the Americas owing to the growing popularity of scented candles and accelerating use in aromatherapy centers. There is a significant surge in the adoption of candles by the consumers of the EMEA and APAC region, which is attributed to the increased use for religious purposes. Candles are widely used in developing economies for emergency lighting as they are affordable and readily available in convenience stores. Moreover, in APAC, the growing popularity of various scented candles and the increasing availability of aromatic and customized candles on eCommerce platforms are expected to encourage their adoption by customers worldwide.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Candle Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing demand for candles for decoration purposes and the rising popularity of DIY candle-making
- The growing popularity of candle massage as a popular therapy for relaxation purposes
- Market Restraints
- Fluctuating prices of raw materials and concerns pertaining to exposure to harmful chemicals
- Market Opportunities
- Rising popularity of environment-friendly and organic candles
- Introduction of innovative and scented candles on eCommerce platforms
- Market Challenges
- Compliance issues in candle production and rising adoption of flameless candles
- Market Segmentation Analysis
- Raw Material: Proliferating use of rapeseed wax as an eco-friendly alternative
- Product: Increasing adoption of container candles owing to its versatility and convenience of use
- Distribution: Evolving online distribution channel for candles
- End-User: Proliferating utilization of candles by individual consumers for personal use or gifting purposes
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Candle Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Candle Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Curio Brands Acquires Candle Maker Otherland
Curio Brands has acquired Otherland, a candle maker. By joining the Curio platform, Otherland has better growth potential through additional channels and wholesale expansion.
Yankee Candle Partners with Vera Bradley to Launch New Limited-Edition Collection
The Yankee Candle Company, Inc., a part of the Newell Brands portfolio, partnered with Vera Bradley to unveil a new limited-edition collection in time for Mother's Day. With this collaboration, Vera Bradley strives to make the world a brighter place and its latest design.
Sydney Brands Maison Balzac and Nonna’s Grocer Collaborated on a Truly Grape New Candle
Maison Balzac and Nonna's Grocer have teamed up in a unique venture to offer a truly grape dinner party centerpiece. Their limited edition candle features rare Grand Cru grape varieties from generations-old French vineyards, creating an exquisite aroma of pinot noir and chardonnay infused into hand poured soy wax with protective amethyst stones. With its natural scent, sophisticated design, and unifying appeal, the candle is right match for any dinner table.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Candle Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Candle Market, highlighting leading vendors and their innovative profiles. These include Armadilla Wax Works, Inc., AS Hansa Candle, AUS Wax Pty. Ltd., Baltic Candles Ltd., Bath & Body Works Direct, Inc., Bolsius International BV, Bridgewater Candle Company, Candle Delirium, Inc., Candles Scandinavia AB, Ceras Roura S.A., Chandelles Tradition MB Inc., Circle E Candles, Coastal Living Co., Colonial Candle, Conscious Candle Co., Contract Candles & Diffusers Ltd., Delsbo Candle AB, Duni AB, Ellis Brooklyn, Empire Candle Co., LLC, Gala Group GmbH, Jo Malone London Inc., M and Sense (Suzhou) Arts and Crafts Co., Ltd., Malin+Goetz Inc., Mimico Candle Company, MVP Group International, Inc., NEST Fragrances, Newell Brands, Inc., OZ Candles, S.C. Johnson & Son, Inc., The Kelowna Candle Factory, Wilhelm Vollmar Sternstrasse GmbH, and Wright Power.
Market Segmentation & Coverage
This research report categorizes the Candle Market to forecast the revenues and analyze trends in each of the following sub-markets:- Raw Material
- Beeswax
- Palm Wax
- Paraffin Wax
- Rapeseed Wax
- Soy Wax
- Stearin
- Product
- Container Candle
- Pillars
- Tapers
- Votive
- Distribution
- Offline
- Online
- End-User
- Commercial
- Individual
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
197 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing demand for candles for decoration purposes and the rising popularity of DIY candle-making
- 5.1.1.2. The growing popularity of candle massage as a popular therapy for relaxation purposes
- 5.1.2. Restraints
- 5.1.2.1. Fluctuating prices of raw materials and concerns pertaining to exposure to harmful chemicals
- 5.1.3. Opportunities
- 5.1.3.1. Rising popularity of environment-friendly and organic candles
- 5.1.3.2. Introduction of innovative and scented candles on eCommerce platforms
- 5.1.4. Challenges
- 5.1.4.1. Compliance issues in candle production and rising adoption of flameless candles
- 5.2. Market Segmentation Analysis
- 5.2.1. Raw Material: Proliferating use of rapeseed wax as an eco-friendly alternative
- 5.2.2. Product: Increasing adoption of container candles owing to its versatility and convenience of use
- 5.2.3. Distribution: Evolving online distribution channel for candles
- 5.2.4. End-User: Proliferating utilization of candles by individual consumers for personal use or gifting purposes
- 5.3. Market Trend Analysis
- 5.3.1. Potential production capabilities and well-established standards have enhanced the candle market scope in the American region.
- 5.3.2. Easy availability on eCommerce platform and emerging startups to elevate candle production in the APAC region
- 5.3.3. Development of innovative and premium candles and significant export in the EMEA region
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 5.9.1. Pricing Analysis and Trends
- 6. Candle Market, by Raw Material
- 6.1. Introduction
- 6.2. Beeswax
- 6.3. Palm Wax
- 6.4. Paraffin Wax
- 6.5. Rapeseed Wax
- 6.6. Soy Wax
- 6.7. Stearin
- 7. Candle Market, by Product
- 7.1. Introduction
- 7.2. Container Candle
- 7.3. Pillars
- 7.4. Tapers
- 7.5. Votive
- 8. Candle Market, by Distribution
- 8.1. Introduction
- 8.2. Offline
- 8.3. Online
- 9. Candle Market, by End-User
- 9.1. Introduction
- 9.2. Commercial
- 9.3. Individual
- 10. Americas Candle Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Candle Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Candle Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Curio Brands Acquires Candle Maker Otherland
- 13.3.2. Yankee Candle Partners with Vera Bradley to Launch New Limited-Edition Collection
- 13.3.3. Sydney Brands Maison Balzac and Nonna’s Grocer Collaborated on a Truly Grape New Candle
- 13.3.4. Tara Candle Launched Gulkand Ki Jalebi, a New Fragrance Inspired by Traditional Indian Sweet
- 13.3.5. WoodWick Candles introduced consciously created candle line, ReNew Collection
- 13.3.6. Trudon and Master Tseng Collaborated on Scented Candles
- 13.3.7. Tara Candles Launched New Collection of Candles in Celebration of Republic Day 2023
- 13.3.8. Perfumer Lyn Harris Created Scented Candles Based on 17th-Century Paintings in Collaboration With Sotheby’s
- 13.3.9. Woodhouse Spa and APOTHEKE Collaborated to Launch Spa Candle Collection
- 13.3.10. Glossier launched a You scented candle
- 13.3.11. Japanese D2C fragrance brand Shefar launched scented candle product line
- 13.3.12. The Manipal Group’s luxury brand EKAM raised an Angel roundabout INR 4.8 CR
- 13.3.13. Mayfield Consumer Products expanded with a USD 33.3 million in total investment
- 13.3.14. Lucky Penny Candles Announced First International Expansion
- 13.3.15. Phoenix Flavors and Fragrances Completed the Acquisition of Innovative Fragrances
- 13.3.16. The WoodWick Candle Brand Announced Partnership with Reforestation Nonprofit, One Tree Planted
- 13.3.17. Lamborghini partnered with Culti Milano to develop square-shaped scented candles
- 13.3.18. Global Consumer Acquisition Corp. Acquired Two Candle Companies
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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