Iberian Peninsula Candle Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The Iberian Peninsula candle market size reached around USD 369.30 Million in 2024. The market is projected to grow at a CAGR of 3.80% between 2025 and 2034 to reach nearly USD 536.23 Million by 2034. This can be attributed to the rising demand for eco-friendly, luxury, and customised candles driven by sustainability trends. Moreover, the introduction of limited-edition collections for special events like sporting tournaments and holidays is also driving market expansion.

Iberian Peninsula Candle Market Report Summary

Description

Value

Base Year

USD Million

2024

Historical Period

USD Million

2018-2024

Forecast Period

USD Million

2025-2034

Market Size 2024

USD Million

369.30

Market Size 2034

USD Million

536.23

CAGR 2018-2024

Percentage

XX%

CAGR 2025-2034

Percentage

3.80%

CAGR 2025-2034- Market by By Product Type

Container Candles

4.3%

CAGR 2025-2034- Market by By Raw Material

Soy Wax

4.2%

Iberian Peninsula Candle Market Growth

The growth of the Iberian Peninsula candle market is driven by several key factors. One of the primary drivers is the increasing consumer demand for eco-friendly and sustainable products. Candles made from natural waxes, such as soy, beeswax, and coconut wax, are gaining popularity as they align with environmentally conscious lifestyles. Additionally, the use of non-toxic fragrances and biodegradable packaging further supports this trend, reflecting the growing awareness of environmental sustainability in the region.

The rising demand for luxury and customised candles is also contributing to the Iberian Peninsula candle market expansion. Consumers in Spain and Portugal are increasingly drawn to premium scented candles that offer unique designs and high-quality fragrances. These candles are often purchased as gifts or used for home decor, with middle- and high-income groups leading this trend. Personalisation options, such as customised scents, shapes, and packaging, have become a key selling point for many brands.

Moreover, the growing influence of wellness and relaxation trends has increased the use of aromatherapy candles. Consumers are seeking candles that promote relaxation, reduce stress, and enhance mood. This demand is further amplified by the popularity of candles in home fragrance products. Combined, these factors are propelling the Iberian Peninsula candle market value forward, creating opportunities for innovation and growth.

Key Trends and Developments

Focus on aromatherapy, growth of women-led entrepreneurship, increasing production of essential oils, development of multi-wick candles, and rising preference for artisanal candles are the major factors driving the Iberian Peninsula candle market growth.

December 2024

Loro Piana launches scented candles—Mystic Fleece, Cashfur Cloud, and Smoky Tweed—in the Iberian Peninsula, transforming luxurious textiles into fragrances that embody the softness of Vicuña, Cashfur, and wool, blending craftsmanship with sensory indulgence.

August 2024

Liljeholmens Stearinfabrik, a Portuguese manufacturer of scented candles launched a new range of 100% plant-based scented candles. Encased in a dishwasher-safe ceramic container with a Swedish design, its intriguing and clean fragrances were developed in collaboration with a leading French fragrance brand Sozio. These candles are 100% renewable and vegan-friendly and are expected to enjoy great appeal among eco-conscious consumers.

September 2023

VILA HERMANOS CERERIS SA. launched the Organic Collection, inspired by the burgeoning consumer demand for experiencing the different aromas of their dream travel destinations. The scented candles of the range features aromas from the Ruta de las Camelias, Sierra de Irta, the Ruta del Quijote, and the Camino de Santiago. With the expected growth of the tourism industry, Iberian Peninsula candle market size is anticipated to grow significantly.

October 2021

The Duni Group acquired a 22% stake in the Bûmerang Takeaway, S.L., a Barcelona-based startup manufacturing returnable packaging solutions for the catering industry. This is expected to strengthen its capabilities for producing reusable candle packaging, thereby expanding its Iberian Peninsula candle market share.

Growth of women-led entrepreneurship

In 2024, around 203 women-led businesses upscaled their operations to drive profitability and growth. These accounted for nearly 18% of all businesses and placed it on the same footing as the Silicon Valley in the United States. Based on industry analysis, Femtech accounted for 21% of all businesses, thereby indicating a positive demand for products focused on overall well-being of women. This is expected to propel the Iberian Peninsula candle market development.

Increasing production of essential oils

In 2023, Spanish farmers grew essential oils on over 72,000 hectares of land, thereby recording a year-on-year growth of 35%. It is a leading producer of rosemary, thyme, and lavender and exports them to countries like France (13%), Germany (10%), Italy (12%), and United Kingdom (7%). Nearly 15% of these exports were pure oils, indicating the popularity of Spain-grown scents worldwide. This is favourably influencing the Iberian Peninsula candle market dynamics.

Development of multi-wick candles

These are trending for their functional and aesthetic appeal. They not only offer a strong scent but also ensure an even burn. Besides, their superior scent diffusion capabilities make them ideal for large rooms and group events. The introduction of double-wick decorative containers (made from marble/ceramic) for luxurious spaces is expected to sustain the growth of Iberian Peninsula candle market revenue in the coming years.

Rising preference for artisanal candles

Handmade candles featuring innovative shapes and hand-poured designs are gaining market traction as consumers’ appreciation for craftsmanship increases. These candles are produced in small batches and are highly sought after.

Iberian Peninsula Candle Market Trends

Increasing production of essential oils

Spain produces nearly 1,400 tons of lemon’s essential oil annually, which makes it the world’s second largest producer. It is also the home of Verna and Fino lemon varieties. Lemon is grown on nearly 50,400 hectares of land, with plantations having over 15 million lemon trees that capture over 300 tons of carbon emissions annually. Murcia (53%), Comunidad Valenciana (33%), and Andalusia (14%) are the dominant lemon producing regions. The sustainable methods of production and extraction makes Spain’s lemon essential oils an extremely popular scent among candle manufacturers, thereby propelling the Iberian Peninsula candle market development.

Growing appeal for zero-waste candles

The shift towards sustainability has prompted luxury consumers to seek candles that reduce their environmental impact without influencing the style and quality negatively. This has prompted companies to launch refillable candle jars that require wax inserts for prolonged use. Moreover, wax melts offering a waste-free and flameless way of enjoying fragrances are also leading to Iberian Peninsula candle market expansion. Over the forecast period, the use of natural materials like soy-based inks along with biodegradable wraps are expected to sustain market growth as the demand for plastic-free packaging increases.

Iberian Peninsula Candle Industry Segmentation

The EMR’s report titled “Iberian Peninsula Candle Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Product Type

• Pillars
• Votive
• Tapers
• Container Candles
• Others

Breakup by Raw Material

• Beeswax
• Palm Wax
• Soy Wax
• Paraffin Wax
• Others

Breakup by Distribution Channel

• Online
• Offline

Breakup by Country

• Spain
• Portugal
• Others (Andorra, Gibraltar, French Cerdagne)

Iberian Peninsula Candle Market Share

Based on product type the market is divided into container candles, pillars, votive, tapers, and others. The container candles segment is anticipated to garner the highest CAGR during the forecast period of about 4.3%.

CAGR 2025-2034 - Market by

By Product Type

Container Candles

4.3%

Pillars

4.1%

Votive

XX%

Tapers

XX%

Others

XX%

Leading Companies in the Iberian Peninsula Candle Market

Based on Iberian Peninsula candle market analysis, major players are focusing on offering eco-friendly and luxury candles to meet growing consumer demand. They are introducing sustainable materials like natural waxes, biodegradable packaging, and non-toxic scents. Additionally, companies are leveraging personalisation, innovative designs, and premium fragrances to cater to the rising interest in customised and high-end candles.

Velas Martinez Morales S.L.U.

Velas Martinez Morales S.L.U. was founded in 1988 and is headquartered in Castilla-La Mancha, Spain. It has an annual candle processing capacity of over 4500 tons of paraffin, achieved through pressing, filling, and molding,

VILA HERMANOS CERERIS SA.

VILA HERMANOS CERERIS SA. was founded in 1884 and is headquartered in Spain. It is regarded as a pioneer of developing natural vegetable wax scented candles for both household and business settings.

Rhea Candle Company

Rhea Candle Company is a small-size women-run business based in Madrid, Spain. It specialises in producing soy wax candles and home décor products in a sustainable manner.

Algarve Candle Company

Algarve Candle Company was founded in early 2020 and is based in Faro District, Portugal. It is a mother-daughter company that produces non-toxic, eco-friendly, and cruelty free candles.

Other players included in the Iberian Peninsula candle market report are Duni Group, Voluspa, Promol-Indústria de Velas S.A., Cerutil Cerâmicas Utilitárias, S.A., Velas Vip, and MGWAX – Transformation of Waxes, Ltd., among others.