Scented candles market 2023-2027, A descriptive analysis of parent market, five forces model, market dynamics, & segmentation- Technavio

NEW YORK, Dec. 16, 2022 /PRNewswire/ -- According to Technavio, the global scented candles market size is estimated to grow by USD 758.83 million from 2022 to 2027. The market is estimated to grow at a CAGR of  3.46% during the forecast period. However, the growth momentum will progress. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 30%. 

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Global scented candles market - Parent market analysis
The reports categorize the global scented candles market as a part of the global household products market, which covers non-durable household products, including detergents, soaps, diapers, and other tissue and household paper products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

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Global scented candles market - Five forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Segment overview
Technavio has segmented the market based on type, distribution channel (offline and online), product (container-based, pillars, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The offline segment will grow at the highest rate during the forecast period. The offline distribution channel generates revenues from specialty stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores, as well as department stores. Players are expanding their stores in the local and regional markets to fuel sales through offline channels. Scented candle manufacturers sell their products through specialty stores and other retailing formats, which intensifies market competition. Retailers are introducing new businesses, wider assortments, pricing, and retail strategies to remain competitive. Such initiatives will increase segment growth during the forecast period.

Geography overview
By geography, the global scented candles market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global scented candles market.

• Europe will account for 30% of the global scented candles market during the forecast period. This growth is mainly due to the increasing demand for fancy candles during festive seasons and holidays such as Easter and Christmas, an area that is expected to continue to lead during the forecast period.  The continuous and steady rise in consumers' awareness regarding the ingredients used in scented candles has played a major role in driving the demand for scented candles. Additionally, many vendors operating in the market are clearly mentioning the ingredients used to produce scented candles. Such transparency and disclosure will have a positive impact on the market.

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Global scented candles market – Market dynamics
Key factor driving market growth

• The increasing investment in household interiors is notably driving the market growth. 
• Growing disposable income, rapid industrialization, increasing urbanization, rising employment, and a progressive rise in investments are some of the factors that are driving new residential construction activities.
• Moreover, sustained political support in the form of affordable loans and tax waiver schemes also plays a crucial role in boosting the demand for new houses. Consequently, investment in household interiors has also been increasing.
• Scented candles play a pivotal role in increasing the aesthetic appeal of residential interior designs. In recent years, many countries have made sustained progress toward eco-friendly housing that offers minimum usage of energy.  This initiative may further promote the demand for eco-friendly home decor products, including scented candles.

Leading trends influencing the market 

• The growth of the e-commerce market is a key trend in the market. The growth of the e-commerce market and globalization and liberalization policies have simplified cross-border trade and led to the growing trend of B2B and B2C business. Advances in technology, coupled with increasing Internet penetration, have increased online purchases and sales of goods and services across the globe.
• The gradual shift in customer spending and shopping habits has amplified the growth potential of the e-commerce market. The growth of information and communication technology, artificial intelligence, and other modern technologies has expanded the customer base, thereby creating lucrative growth prospects for key market vendors. 
• Factors such as the advent of social media, increasing Internet penetration, and the growing adoption of smartphones have allowed reliable access to a wide range of products and have helped customers choose the best in-home decor, including scented candles.

Major challenges hindering market growth

• Stiff competition from the unorganized sector is the major challenge impedine market growth. 
• The market is mainly composed of two segments, namely, the organized and unorganized sectors. The organized sector mainly comprises big retailers or manufacturers that have the necessary permits and follow strict rules and regulations; on the other hand, the unorganized sector includes small retailers or manufacturers that are not registered with the government.
• Thus, the global scented candles market is highly fragmented and unorganized. Venturing into a candle-making business does not require immense capital or investment. This encourages small companies or small retailers to enter the business and leads to the proliferation of sub-standard or duplicate products.
• Owing to the presence of a large number of unorganized players, consumers can purchase sub-standard products as they are unable to differentiate between the original and duplicate candles. This hampers the profit margins of the established vendors.

Driver, Trend, and Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this scented candles market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Scented Candles Market between 2023 and 2027
• Precise estimation of the size of the Scented Candles Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Scented Candles Market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Scented Candles Market vendors

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• The candle market size is forecasted to grow by USD 2.93 billion with a CAGR of 6.5% between 2021 to 2026. The market is segmented by product (container-based, pillars, and others) and geography (North America, Europe, APAC, South America, and MEA).
• The decorative candles retail market size is forecasted to grow by USD 1.94 billion with a CAGR of 6.5% between 2021 to 2026. The market is segmented by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

Browse for Technavio's consumer staple market reports

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Scented Candles Market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global Scented Candles Market 2017 - 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 43: Chart on Product - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Container based - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Container based - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Container based - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Container based - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Container based - Year-over-year growth 2022-2027 (%)

• 7.4 Pillars - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Pillars - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Pillars - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Pillars - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Pillars - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Bolsius International BV 
• Exhibit 112: Bolsius International BV - Overview
• Exhibit 113: Bolsius International BV - Product / Service
• Exhibit 114: Bolsius International BV - Key offerings

• 12.4 Conscious Candle Co.
• Exhibit 115: Conscious Candle Co. - Overview
• Exhibit 116: Conscious Candle Co. - Product / Service
• Exhibit 117: Conscious Candle Co. - Key offerings

• 12.5 Diptyque Distribution LLC 
• Exhibit 118: Diptyque Distribution LLC - Overview
• Exhibit 119: Diptyque Distribution LLC - Product / Service
• Exhibit 120: Diptyque Distribution LLC - Key offerings

• 12.6 GALA GROUP GMBH
• Exhibit 121: GALA GROUP GMBH - Overview
• Exhibit 122: GALA GROUP GMBH - Product / Service
• Exhibit 123: GALA GROUP GMBH - Key offerings

• 12.7 Godrej Consumer Products Ltd. 
• Exhibit 124: Godrej Consumer Products Ltd. - Overview
• Exhibit 125: Godrej Consumer Products Ltd. - Business segments
• Exhibit 126: Godrej Consumer Products Ltd. - Key news
• Exhibit 127: Godrej Consumer Products Ltd. - Key offerings
• Exhibit 128: Godrej Consumer Products Ltd. - Segment focus

• 12.8 Lalique Group SA
• Exhibit 129: Lalique Group SA - Overview
• Exhibit 130: Lalique Group SA - Product / Service
• Exhibit 131: Lalique Group SA - Key offerings

• 12.9 MVP Group International Inc. 
• Exhibit 132: MVP Group International Inc. - Overview
• Exhibit 133: MVP Group International Inc. - Product / Service
• Exhibit 134: MVP Group International Inc. - Key offerings

• 12.10 NEST Fragrances
• Exhibit 135: NEST Fragrances - Overview
• Exhibit 136: NEST Fragrances - Product / Service
• Exhibit 137: NEST Fragrances - Key offerings

• 12.11 Newell Brands Inc.
• Exhibit 138: Newell Brands Inc. - Overview
• Exhibit 139: Newell Brands Inc. - Business segments
• Exhibit 140: Newell Brands Inc. - Key news
• Exhibit 141: Newell Brands Inc. - Key offerings
• Exhibit 142: Newell Brands Inc. - Segment focus

• 12.12 Reckitt Benckiser Group PLC 
• Exhibit 143: Reckitt Benckiser Group PLC - Overview
• Exhibit 144: Reckitt Benckiser Group PLC - Business segments
• Exhibit 145: Reckitt Benckiser Group PLC - Key offerings
• Exhibit 146: Reckitt Benckiser Group PLC - Segment focus

• 12.13 S.C. Johnson and Son Inc. 
• Exhibit 147: S.C. Johnson and Son Inc. - Overview
• Exhibit 148: S.C. Johnson and Son Inc. - Product / Service
• Exhibit 149: S.C. Johnson and Son Inc. - Key offerings

• 12.14 ScentAir Technologies LLC 
• Exhibit 150: ScentAir Technologies LLC - Overview
• Exhibit 151: ScentAir Technologies LLC - Product / Service
• Exhibit 152: ScentAir Technologies LLC - Key offerings

• 12.15 Seda France
• Exhibit 153: Seda France - Overview
• Exhibit 154: Seda France - Product / Service
• Exhibit 155: Seda France - Key offerings

• 12.16 The Bridgewater Candle Co. 
• Exhibit 156: The Bridgewater Candle Co. - Overview
• Exhibit 157: The Bridgewater Candle Co. - Product / Service
• Exhibit 158: The Bridgewater Candle Co. - Key offerings

• 12.17 The Procter and Gamble Co. 
• Exhibit 159: The Procter and Gamble Co. - Overview
• Exhibit 160: The Procter and Gamble Co. - Business segments
• Exhibit 161: The Procter and Gamble Co. - Key news
• Exhibit 162: The Procter and Gamble Co. - Key offerings
• Exhibit 163: The Procter and Gamble Co. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 164: Inclusions checklist
• Exhibit 165: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 166: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 167: Research methodology
• Exhibit 168: Validation techniques employed for market sizing
• Exhibit 169: Information sources

• 13.5 List of abbreviations 
• Exhibit 170: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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