Global Decorative Candles Retail Market 2019-2023
About this market
Growing home decor market will be a major factor driving the growth of the global decorative candles retail market. Rising affluence in major global economies coupled with lifestyle changes have led to a radical surge in demand for home decor products. Innovations in aromatherapy diffusers, plug-ins, and customized candles have positively grabbed the attention of retailers and millennials among the consumer group. Technavio’ s analysts have predicted that the decorative candles retail market will register a CAGR of over 5% by 2023.
Diversified product portfolio of key vendors
Decorative candles can be categorized into various types life tapers, votives, containers, pillars and many more. Each type of candles is designed to cater different occasions or purposes like religious holidays, birthdays, gifts, and home decor. Thus, diversified product portfolio of key vendors will drive the growth of the market.
Emission of toxic fumes
Air pollution is regarded as a major threat to human health and life. Exposure to harmful fuels and gases results in serious health hazards and sometimes could lead to cancer. The burning of paraffin wax, a major raw material used in making candles, releases harmful toxins into the air, which can cause cancer with multiple exposure.
For the detailed list of factors that will drive and challenge the growth of the decorative candles retail market during the 2019-2023, view our report.
The market appears to be highly fragmented and with the presence of several companies including Walmart Inc. and Williams-Sonoma Inc the competitive environment is quite intense. Factors such as the growing home decor market and diversified product portfolio of key vendors, will provide considerable growth opportunities to decorative candles retail manufactures. Amazon.com Inc., Home Depot Product Authority, LLC, Kingfisher plc, Walmart Inc., and Williams-Sonoma Inc. are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Decorative Candles Retail Market 2019-2023
Technavio recognizes the following companies as the key players in the global decorative candles retail market: Amazon.com Inc., Home Depot Product Authority, LLC, Kingfisher plc, Walmart Inc., and Williams-Sonoma Inc.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the evolution of wooden wicks.”
According to the report, one of the major drivers for this market is the diversified product portfolio of key vendors.
Further, the report states that one of the major factors hindering the growth of this market is the emission of toxic fumes.
Home Depot Product Authority, LLC
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