USD 12.18 billion
Candles Market Size, Share, Growth Analysis, By Product(Pillars, Tea Lights, Votive, Cartridge Candle), By Raw Materials (Wax)(Stearin, Beeswax, Palm Wax, Soy Wax), By Distribution Channel(Gift shops, department or home decor stores, mass merchandise retailers (discount stores, drug store chains), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30K2039 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
103
|Figures:
86
Candles Market Insights
Candles Market size was valued at USD 12.88 billion in 2022 and is poised to grow from USD 13.32 billion in 2023 to USD 17.43 billion by 2031, growing at a CAGR of 3.42% in the forecast period (2024-2031).
A candle is an ignitable wick immersed in wax or similar combustible solid substance like tallow that emits light and, in some situations, scent. A candle can also be used to produce heat or as a timepiece. The candle becomes shorter as the fuel (wax) melts and burns. The flame consumes portions of the wick that are not releasing vaporised fuel. To ensure slower, steady burning, some wicks require regular trimming with scissors (or a specialised wick trimmer), generally to approximately one-quarter inch (0.7 cm). Candles are classified into three types: Basic Candles (are most popular forms of festive candles with a diameter of 2.2 cm that fit most traditional candle holders and pillars with a variety of widths). Candles having a "fancy" shape or form are known as fancy candles. Scented Candles (candles with additional smells, both basic and elaborate). Basic candles are mostly sold in sets, although scented or decorative candles can also be purchased in small amounts. Among the fundamental constituents these are beeswax, soy wax, and other plant waxes. The standard for candle sizes, most candlesticks are 2.2 cm in diameter. Tapers are tiny candles that are around 25 cm long and feature a 1.27 cm base.
Rise in demand for candles for home and workplace decorating, as well as for festivals like as Diwali and Christmas, is another important factor driving this market. When consumers' incomes improve and their lifestyles change, they have more money to spend on candles with better designs and exotic smells, which strengthens the worldwide market. Yankee Candle debuted its Signature Collection in 2019, with updated contemporary containers and ten new, collection-exclusive fragrances in addition to over 30 popular scents. Premium soy-wax mixes and double cotton wicks in the Signature Collection provide a cleaner burn and a stronger, longer-lasting smell. Discovery, another Yankee Candle perfume, has been a big hit. Discovery combines aromas from throughout the world, including red ginger, starfruit, vanilla spice, and mango.
US Candles Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Paraffin Wax
Fastest Growth
Soy Wax
Growth Rate
5.7% CAGR
Global Candles Market, 2024-2031 ($ Bn)
Country Share for Europe Region- 2024 (%)
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Candles Market Segmental Analysis
Global Candles Market is segmented based on the product type, raw material (Wax), and distribution channel, and region. Based on product type, the Global Candles Market is segmented into pillars, tea lights, votive, cartridge candle, birthday candle, wax filled container candles, and others. Based on raw material (Wax), the global candles market is segmented into stearin, beeswax, palm wax, soy wax, paraffin wax, rapeseed wax, and others. On the basis of distribution channel, the global candles market is segmented into gift shops, department or home decor stores, mass merchandise retailers (discount stores, drug store chains, etc.), direct sales, internet and others (small scale retailers). By region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World
Candles Market Analysis by Product type
Wax Filled Container Candle holds the second largest share of the global market. Container candles (also known as votive candles) are miniature candles that are placed in a heat-resistant container. They are very easy to make by placing in the moulds of particular shape and design and these are popular as ornamental pieces and generally sold as fragranced candles. They are created in their own most basic form from a heat resistant container filled with wax and a central wick. Even if the candle have been burning for a long time, the container will be safe and can be reused. Heat-resistant materials such as metal tins, ceramics, and glass are good, however caution should be taken as with glass because it might split or shatter with high speed when heated.
By 2028, the votive candle sector is predicted to have the biggest market share. This is owned to its ability to burn slowly. These are around 5 cm tall and 4 cm broad, and available in a variety of colours such as red, pink, yellow, purple, black, and others. They are housed on a glass holder to make them more visually appealing when lit. These are the primary benefits that will fuel growth of the votive candle sector in the worldwide market between 2021 and 2028.
Pillar candles are popular today because the coupling of significant value and its structure which is hard to beat. A pillar candle is a candle constructed by hard wax (often paraffin wax) that can stand alone without the use of a container. Pillar candles come in a variety of sizes, shapes, and heights, but the most common type is a cylinder with one wick. A typical pillar candle, takes the burn time around 50 to 60 hours. Melt Candle Company Pillar Candles likely to come in your ideal shade, since they’re available in more than 15 colours like red, grey, blue, white.
Birthday candles are used on birthdays, anniversaries, farewells, promotion, and in other events, which is a major factor for this segment’s growth.
Candles Market Analysis by Raw Materials
Paraffin segment has largest market share during the forecast period. One of the most common types of wax used in the candle industry is paraffin wax. It is mostly accessible in solid slabs, pellets, and flake forms. When it is in liquid form, the wax is white but turns translucent. There are three melting point types of paraffin waxes: low, medium, and high melting points. Melting point is one of the most important elements to consider while formulating to create a candle. Container candles in jars, cups, or glasses are made with low-melting-point paraffin. Votives, pillars, and other sculpted candles are made from paraffin with a medium melting point. High-melting-point wax is used in more specialised structured candles like hurricane candle shells.
Over the projection period, the soy wax segment is predicted to rise at certain CAGR. The wax is manufactured from a natural resource and soybean, both of which have low carbon footprints. Because of its high melting point, soy burns slowly, creating a long-lasting scent.
Palm Wax candles segment has grown as a more environmentally friendly, yet contentious, raw component.
Global Candles Market By Raw Material Type , 2024 (%)
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Candles Market Regional Insights
Europe accounted for the largest market share in the global candles market during the forecast period, accounting for 23% of imports, followed by the United Kingdom (16%) and the Netherlands (11%). Together, they accounted for more than half of the total European candle imports. Smaller markets with a share of less than 10%, but still in the top six leading importing countries, are France (7%), Belgium (6%) and Austria (5%).
In 2021, North America accounted for second largest shareholder in the Global Candles Market. It is projected to maintain its advantage due to the festive seasons such as Christmas and Easter. The product is popular for gifting, family gatherings, festivals, beauty and spa treatments, and luxury dining. Furthermore, the market is projected to be driven by frequent product introductions.
Asia-Pacific is the fastest expanding market over the forecast period. The growth is due to the increasing standards of living and the need for aesthetic candles among middle-income families in countries like Bangladesh, India, and China. The emerging number of restaurants and fine dining places is also driving the market.
Global Candles Market By Region, 2024-2031
- Largest
- Fastest
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Candles Market Dynamics
Candles Market Driver
- As this sector is observed to drive the market due to the mood-lifting characteristics of scented candles. Consumers are becoming more aware of the odours and perfumes they want to enjoy at home. Fragrances provide calming sensations while also strengthening memories and a sense of belonging. The ability of perfumes and odours to connect on an emotional level is predicted to aid industry growth.
Candles Market Restraint
- The unpredictability of raw material costs is a key impediment to the expansion of the candle business. The availability of several replacement items, such as electric candles, fairy lights, and so on, is likely to impede the expansion of the candle industry.
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Candles Market Competitive Landscape
Global Candles Market holds great potential for international and regional players. Emerging market players, especially from developing countries, are expected to have more opportunities to enter the market. Increasing establishment of government initiatives and increasing foreign investment to develop the sector, which is expected to spur market growth in the coming years. Overall, the global market is highly competitive and dependent on product development and advancements. Industry players are striving to match local tastes and gain a competitive advantage over others. The presence of local players poses a significant threat to large multinationals in terms of product quality and prices offered to customers.
Candles Market Top Player's Company Profiles
- Vollmar GMBH
- Baltic Candles Ltd
- Bolsius International BV
- Delsbo Candle AB
- Diana Lys A/S
- Duni AB
- Erich Kopschitz GmbH
- Hansa Candle AS
- Bekro Chemie GMBH
- KORONA Candles S.A.
- Suomen Kerta Oy
- Yankee Candle Europe Ltd
- 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. Müller Kerzenfabrik AG
- Korpiahon Hunaja Oy
- Kynttilä-Tuote Oy
- Liljeholmens Stearinfabriks AB
- Monterosa Zelandi Srl
- The Copenhagen Candle Company Limited
- VILA HERMANOS CERERÍA SA
- Seal Aromas Gmbh
- Contract Candles Ltd
- Spaas Candles Poland Sp Z O O
- Bartek Candles
Candles Market Recent Developments
- On September 2022, Yankee Candle launched new brand Snow Globe Wonderland Advent Calendar collection.
- On September 2022, Texas Roadhouse launched honey cinnamon butter candles. The scent of the restaurant's world-famous honey cinnamon butter, which guests enjoy with fresh-baked rolls when seated at their favorite hometown Texas Roadhouse location, inspired the limited-edition candles.
Candles Key Market Trends
- Increase in the usage of organic candles Organic tandem are created from environmentally friendly ingredients like bee wax and say war. These environmentally friendly materials are derived entirely from natural sources, such as bees wax taken from honeycombs and soya wax made from soybean oils, which is also known as vegetables wax. Consumers' increased awareness of the need of living a healthy lifestyle has resulted in the adoption of eco-friendly and organic goods that do not emit any hazardous substances when burning candles, which are important factors driving the candle market's growth. In the last few years, there has been an increase in the usage of scented candles, as it is utilised for mental treatment and to create a meditation environment. Candles with a subtle range of smells, such as lavender, peppermint, and geranium, are now available for the treatment of psychological diseases such as sadness and anxiety. Some unique fragrances in candles are utilised to improve brain memory and provide relaxation. These are some of the primary factors influencing the growth of the candle industry.
Candles Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Candles Market, Current and potential candle industry trends are presented to determine the entire attractiveness of the candle market. The top affecting variables underlined opportunities within the projection term. The candle industry is expanding due to causes including as Candle consumption as an aesthetic-appealing product among female millennials for domestic use is expected to boost development. Independent firms, cosmetic merchants, and fashion houses have been developing new and inventive items to attract new customers while retaining existing ones. Meanwhile, the commercial value of candles has grown, with most massage centres and spas utilising scented candles for a moderate and calming effect. Similarly, fine dining establishments and restaurants are rapidly incorporating the items.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.88 billion |
| Market size value in 2031 | USD 17.43 billion |
| Growth Rate | 3.42% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Candles Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Candles Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Candles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Candles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Candles Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Candles Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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