According to the latest report by IMARC Group, titled “Candle Market Report by Product (Votive, Container Candle, Pillars, Tapers, and Others), Wax Type (Paraffin, Soy Wax, Beeswax, Palm Wax, and Others), Distribution Channel (B2B, B2C), and Region 2023-2028,” the global candle market size reached US$ 9.4 Billion in 2022. A candle is a cylindrical or tapering wax-based object with an embedded wick that, when ignited, produces a controlled flame. They are utilized in religious ceremonies, festive celebrations, and aromatherapy, creating a cozy ambiance. Candles offer a plethora of benefits to individuals and industries with their stress-relieving and anxiety-reducing properties, making them staple in spas and wellness centers. The incorporation of candles into religious rituals and cultural practices gives them a sense of spiritual significance and reverence. They are commonly available in various sizes, shapes, and colors designed to be lit and used as a source of light or heat.
Global Candle Market Trends:
The growing demand for candles as decorative items in households and commercial spaces is one of the major factors driving the market growth. In line with this, the widespread popularity of candles, owing to their availability in various shapes, sizes, and scents, adding an aesthetic touch to interior decor is propelling the market growth. Additionally, the increasing utilization of candles in the wellness and spa industry for creating a calming and soothing ambiance for relaxation and stress relief is positively impacting the market growth. Moreover, the growing product adoption into religious practices and cultural traditions, such as candles holding symbolic significance in many cultures and religious ceremonies, is strengthening the market growth. In addition to this, the increasing demand for candles as manufacturers shift towards using natural and renewable materials, such as beeswax, soy wax, and palm wax candles, attracting environmentally conscious consumers, is creating a positive outlook for the market growth. Furthermore, the widespread product utilization in the hospitality and tourism sectors, as hotels, restaurants, and event organizers incorporate candles as part of their decor to create a welcoming and cozy atmosphere for guests, is supporting the market growth. Besides this, the increasing demand for candles as gifts, particularly during festive seasons and special occasions, owing to the growing focus on customization and personal preferences, is providing remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 13.2 Billion by 2028, expanding at a CAGR of 5.70% during 2023-2028.
- Based on the product, the market has been segmented into votive, container candle, pillars, tapers, and others. According to the report, votive represents the largest segment.
- On the basis of the wax type, the market has been divided into paraffin, soy wax, beeswax, palm wax, and others. According to the report, paraffin accounts for the largest market share.
- Based on the distribution channel, the market has been bifurcated as B2B and B2C.
- Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) is the largest market for candle.
- The competitive landscape of the market has also been examined, with some of the key players being Bath & Body Works Direct Inc., Bridgewater Candle Company, Circle E Candles Inc., Contract Candles & Diffusers Ltd., Diptyque, Empire Candle Co. LLC, Malin +Goetz Inc., Mvp Group International Inc., S. C. Johnson & Son Inc., Stonewall Kitchen, The Estée Lauder Companies Inc., The White Company, The Yankee Candle Company (Newell Brands), Thymes LLC, etc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Wax Type
- Distribution Channel
||Votive, Container Candle, Pillars, Tapers, Others
|Wax Types Covered
||Paraffin, Soy Wax, Beeswax, Palm Wax, Others
|Distribution Channels Covered
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Bath & Body Works Direct Inc., Bridgewater Candle Company, Circle E Candles Inc., Contract Candles & Diffusers Ltd., Diptyque, Empire Candle Co. LLC, Malin +Goetz Inc., Mvp Group International Inc., S. C. Johnson & Son Inc., Stonewall Kitchen, The Estée Lauder Companies Inc., The White Company, The Yankee Candle Company (Newell Brands), Thymes LLC, etc.
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