Global Candle Market

Candle Market Size, Share, Growth Analysis, By Product (Votive, Container Candles), By Wax Type, By Distribution Channel, By Region - Industry Forecast 2025-2032

Report ID: SQMIG30K2055 | Region: Global | Published Date: December, 2024
Pages: 171 | Tables: 90 | Figures: 71

Candle Market News

  • In October 2023, Yankee Candle disclosed plans of introducing a range of eco-sustainable candles which utilize 100% natural soy wax and recyclable packaging. The aim of this initiative is to cater for the rising demand of consumers for sustainable products while keeping the trademark scents of the brand. The new collection reflects Yankee Candle’s commitment to environmental responsibility and innovation.
  • In August 2023, the candle collection incorporated in promotions by Bath & Body Works is limited and is based on popular scents for different seasons. The latest collection has also a lot of seasonal scents such as Pumpkin Pecan Waffles and Cinnamon Caramel Swirl which seek to bring cheer to the consumers during the festive season. This action is in line with the increasing animation of the market for seasonal home scents.
  • In September 2023, Diptyque launched a new luxury candle line featuring unique, artisanal fragrances inspired by global destinations. Each candle is handcrafted using high-quality ingredients, emphasizing the brand's dedication to craftsmanship and sophistication. The purpose of this foray into the use of exotic scents is to entice more sophisticated customers with more luxurious home fragrance.
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Global Candle Market size was valued at USD 13.20 billion in 2022 and is poised to grow from USD 14.06 billion in 2023 to USD 23.27 billion by 2031, growing at a CAGR of 6.50% during the forecast period (2024-2031). 

In the global candle industry, there are more established players, while some are still new in the market. Therefore, the key cosmopolitan companies incorporate, among others, the Yankee Candle, Bath & Body Works, and Diptyque, which have a wider product offering and a more modern design. These companies utilize online communication channels and social networking sites to market their products and promote interest in these brands. In addition, a shift in focus has been on the need for withstanding competition, many brand owners are looking for green alternatives as raw materials and ways to carry on their businesses. 'Vollmar GMBH ', 'Baltic Candles Ltd ', 'Bolsius International BV ', 'Delsbo Candle AB ', 'Diana Lys A/S ', 'Erich Kopschitz GmbH ', 'Hansa Candle AS ', 'Bekro Chemie GMBH ', 'Suomen Kerta Oy ', 'Affari AB ', 'BISPOL Sp. z o.o. ', 'Candle Scandinavia Group AB ', 'Ceras Roura ', 'Duffy & Scott Candlemakers Ltd ', 'Engels Kerzen GmbH ', 'Ester & Erik A/S ', 'Gebr. Muller Kerzenfabrik AG ', 'Liljeholmens Stearinfabriks AB ', 'Monterosa Zelandi Srl ', 'The Copenhagen Candle Company Limited ', 'Seal Aromas Gmbh '

The increasing focus on home aesthetics is a significant driver for the global candle market outlook. As consumers try to upgrade their households, they are increasingly looking for decorative and aromatic candles. This is primarily attributed to the social media influence and the need for individuality.

Growing Demand for Eco-Friendly Candles: The demand for use of sustainable raw materials in production of candles such as soy wax and beeswax has grown among consumers over the recent past. This is an extension of the longing for environmentally sustainable practices, which has seen brands develop strategies to use biodegradable materials and natural scenting agents incorporated into the products to attract the eco-­friendly consumers and keep up with the changing times.

The Asia-Pacific region is dominating the global candle market share due to its rapidly growing middle class, increased disposable income, and a rising affinity for home decor and lifestyle products. The deep-rooted traditions of the region tend to involve candles within some customs or practices, leading to the augmented appreciation of decorative and scented types. Moreover, the modernizing outlook and Western influence are prompting people, especially in countries such as China and India, to utilize candles for ambience and relaxation. The rise of e-commerce also enables people to access a wider variety of candles which further enhances the importance of the Asia-Pacific region to the growth of the global candles market.

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Global Candle Market

Report ID: SQMIG30K2055

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