Global Candle Market Analysis and Forecast Report 2024: CAGR of 6.17% Forecast During 2024-2030

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Feb 22, 2024, 14:30 ET

DUBLIN, Feb. 22, 2024 /PRNewswire/ -- The "Global Candle Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The recent publication of a comprehensive analysis of the Global Candle Market offers in-depth insights, unveiling the industry trends, market size forecasts for 2024-2030, and the impact of inflation on market dynamics. This highly anticipated report illustrates the significant opportunities arising in the sector, aligning with the evolving consumer preferences and the advent of new players in the market.

According to the study's findings, the candle market, a hub of aromatic distinction and decorative brilliance, is estimated to reach a market size of approximately US$ 15.11 Billion by 2030. At the heart of this growth trajectory is the ever-green appeal of candles across global settings, reflecting a diverse spectrum of uses from spiritual practices to atmospheric enhancers in home décor.

The market analysis delineates a Compound Annual Growth Rate (CAGR) of 6.17% from 2024 to 2030, emphasizing the growing appetite for candles in a myriad of forms. As documented, key factors propelling this upscale include an heightened interest in home décor, burgeoning demand for scented and aromatherapy candles, alongside elevation in disposable incomes, particularly in Asia and the Middle East.

Industry Insight: The report segments the global candle market by wax type, heralding paraffin wax as a dominating force, notwithstanding the trend toward more eco-friendly alternatives such as soy and beeswax. Embracing the inclination towards sustainable and luxury variants, the industry captures an eco-conscious consumer base that is equally vested in the ethical aspects of production.

Through utilizing a 'distribution channel' lens, the research points to supermarkets and hypermarkets as pivotal facilitators in the candle sales domain, offering a vast range of accessible choices to consumers. Meanwhile, the online retail segment is also charting an upward curve, fueled by convenience and the expansion of e-commerce.

An 'area of focus' within the report highlights the United States' market, which remains at the forefront with a robust infrastructure and a high usage incidence, with a remarkable 74% candle ownership among Americans. Seasonal festivities in the region further elevate the consumption patterns, as candles take a central stage in setting the celebratory tone and ambiance.

The competitive landscape sheds light on the notable industry players whose recent developments, such as new product lines and the adoption of sustainable production methods, are significantly shaping the market. Catering to diverse consumer demands, these companies continue to innovate and extend their product offerings, aligning with market expectations.

With precise market breakup insights, the report offers a granular view spanning across wax types, economic and luxury categories, candle products, distribution channels and detailed country-wise analysis, ensuring stakeholders can draw valuable perspectives for strategic decision-making.

The Global Candle Market report is an essential resource for industry stakeholders, investors, market analysts, and anyone interested in understanding the intricacies and potentials within this sector. It provides a complete study, revealing the numerous facets that shape the global candle landscape and identifying the key influencers driving growth and innovation.

Report Scope and Segmentation

Wax Type:

Plam Wax
Soy Wax
Bees Wax
Paraffin
Others

Category:

Economical
Luxury

Product:

Votive
Container Candle
Pillars
Tapers
Others

Distribution Channel:

Online Retail
Specialty Stores
Supermarkets & Hypermarkets
Departmental Stores
Institutional Sales

Country - Market breakup in 26 Countries Candle Industry viewpoints:

1. North America
1.1 United States
1.2 Canada

2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey

3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 Indonesia
3.5 South Korea
3.6 Thailand
3.7 Malaysia
3.8 Australia
3.9 New Zealand

4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

6. Rest of the World

Companies Profiled

Portmeirion Group
Newell Brands Inc.
Estée Lauder Companies Inc.
Lalique Group SA
Bath & Body Works, Inc.
MVP Group International Inc.
Diptyque Paris
NEST New York
Thymes
Village Candle

For more information about this report visit https://www.researchandmarkets.com/r/ukxjjw

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