• May 25, 2024
  • Updated 8:56 am

Global Candle Market Forecasts a 6.19% CAGR Growth from 2024 to 2030 ⅼ Renub Research

Renub Research has released a report titled “Global Candle Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030,” which includes market percentage records and a thorough enterprise analysis. This report examines the Global Candle Market’s competition, geographic distribution, and growth potential.

Global Candle Market is predicted to extend at a CAGR of 6.19% from 2024 to 2030. Candles have gone through a worldwide resurgence in popularity, transcending their conventional function as mere sources of light. Evolving from practical to trendy, candles are cherished for ambiance, relaxation, and aesthetics. The market displays a developing demand for diverse scents, patterns, and efficient options. With wellness trends at the upward push, candles are embraced for their soothing properties, contributing to stress alleviation and mindfulness. Beyond home decor, they create atmospheric experiences at activities and agencies. This giant shift in perception has converted candles into flexible, sought-after lifestyle accessories, symbolizing an international harmonious blend of utility and indulgence.

Further, the international candle market is prospering with diverse products. Aromatherapy, particularly essential oil-infused candles, is rising for stress relief. Experiential fragrances create immersive client experiences, while eco-aware selections like soy, beeswax, and vegetable wax reflect sustainability tendencies. Luxury candles with premium fragrances and customization options are statement pieces in home décor. Beyond traditional formats, diffusers, wax warmers, and event-specific candles cater to varied preferences. Through e-trade and social media, technology enhances accessibility and engagement, fueling market growth. The industry’s dynamic evolution encompasses wellness, sustainability, luxury, and technological integration, making candles more than just resources of light. 

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The international candle market casts its radiant glow throughout various areas, each uniquely contributing to its fiery increase. North America emerges as the undisputed champion, conserving the most significant market proportion. This dominance is fueled by high disposable earnings, empowering expanded customer spending on candles, mainly in the most critical areas like the US and Canada. Also, the cultural importance of candles on vacations such as Christmas and Halloween bolsters seasonal demand for tradition-pushed purchases. So, the global candle market’s prosperity radiates brightly, promising continuous innovation and a developing appreciation for the sensory experience, ensuring similar expansion and a luminous future. So, the Global candle market is projected to be valued at around US$ 15.15 billion by 2030.

The international candle market has witnessed an exquisite surge in the popularity and demand for beeswax candles. 

Consumers are increasingly attracted to beeswax’s natural and sustainable traits, as it is a renewable, helpful resource and emits a clean, sweet aroma while burning. With a growing emphasis on eco-friendly products, beeswax candles appeal to environmentally conscious purchasers searching for options for paraffin candles. Also, the inherent air-purifying properties of beeswax contribute to its market growth. As sustainability and health-aware developments keep shaping customer alternatives, the beeswax section is anticipated to play a significant role in the evolving dynamics of the global candle market.

Wax type – Global Candle Market breakup in 5 viewpoints:

1. Plam Wax

2. Soy Wax

3. Bees Wax

4. Paraffin

5. Others

The global candle market has experienced a notable upswing in the luxury class, reflecting evolving consumer possibilities. 

Discerning customers now prioritize premium and opulent candle services, raising the market beyond functional merchandise. Luxury candles often feature one-of-a-kind designs, premium substances, and complex fragrances, catering to a specific demographic looking for indulgence and aesthetic appeal. Influenced by lifestyle developments and a desire for upscale home decor, the luxury candle phase has witnessed a regular increase. As consumers increasingly view candles as statement portions, the market is expected to flourish, driven by the pursuit of improved experiences and the convergence of capability with luxury.

Category – Global Candle Market breakup in 2 viewpoints:

1. Economical

2. Luxury

The worldwide candle market has seen a surge in the popularity of votive candles, marking a distinct growth trend.

Votives, characterized by their small size and ornamental appeal, have received demand for numerous events, from religious ceremonies to ambient domestic lighting. Their affordability and versatility make them a desired choice for customers seeking budget-friendly but aesthetically appealing candle alternatives. Votive candles frequently feature complicated designs and numerous scents, catering to a vast purchaser base. As the demand for personalized and ornamental lighting fixtures rises, the votive phase is anticipated to keep its upward trajectory, shaping the dynamics of the global candle market.

Product – Global Candle Market breakup in 5 viewpoints:

1. Votive

2. Container Candle

3. Pillars

4. Tapers

5. Others

The international candle market has witnessed a considerable increase in online retail distribution channels, reflecting changing purchasing patterns. 

E-commerce structures offer a convenient way for clients to discover and buy an extensive selection of candles, fostering accessibility and preference. The ease of online purchasing and the upward thrust of digital storefronts have propelled the market’s enlargement. The online channel allows candle makers to attain a global target market using sales and brand visibility. As digital transactions become more prevalent and purchasers appreciate the ease of online buying, the online market is poised to play an increasingly crucial role in forming the future of the global candle market.

Distribution Channel – Global Candle Market breakup in 5 viewpoints:

1. Online Retail

2. Specialty Stores

3. Supermarkets & Hypermarkets

4. Departmental Stores

5. Institutional Sales

India has become an essential participant in the global candle market. 

The growth in India’s candle market is due to a mix of traditional craftsmanship and changing consumer preferences. India’s candle industry showcases diverse designs, scents, and substances, catering to domestic and global markets. With a focus on sustainable and eco-friendly merchandise, Indian candle producers have garnered attention for using natural elements. Also, the growth of e-trade has facilitated a broader market reach. As India continues to mix traditional artistry with current trends, its candle market is poised to contribute considerably to the worldwide industry’s dynamics.

Country – Global Candle Market breakup in 26 viewpoints:

1. United States

2. Canada

3. France

4. Germany

5. Italy

6. Spain

7. United Kingdom

8. Belgium

9. Netherlands

10. Turkey

11. China

12. Japan

13. India

14. Australia

15. South Korea

16. Thailand

17. Malaysia

18. Indonesia

19. New Zealand

20. Brazil

21. Mexico

22. Argentina

23. South Africa

24. Saudi Arabia

25. UAE

26. ROW

Competitive Landscape.

Prominent names in the global candle market include Diptyque Paris, NEST New York, Village Candle, Bath & Body Works, Inc., Lalique Group SA, Portmeirion Group PLC, Newell Brands Inc., Estée Lauder Companies Inc., and MVP Group International, Inc.

All the Key players have been covered from 3 Viewpoints:

• Overview

• Recent Developments

• Revenue Analysis

Company Analysis:

1. Portmeirion Group PLC,

2. Newell Brands Inc.

3. Estée Lauder Companies Inc.

4. Lalique Group SA, 

5. Bath & Body Works, Inc.

6. MVP Group International, Inc.

7. Diptyque Paris

8. NEST New York

9. Thymes, LLC,

10. Village Candle

About the Company: 

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

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