The global demand for Candle Market is presumed to reach the market size of nearly USD 22.88 Billion by 2032 from USD 13.66 Billion in 2023 with a CAGR of 5.9% under the study period 2024 - 2032.
A candle is used as a source of light and it mainly consists of wick and wax, tallow or other materials. Some innovative candles are designed to offer exotic fragrance and increase the ambiance of the room. A vast variety of candles with different size, shape, color and fragrance are available across online and offline retails stores.
Market Dynamics
Rising adoption of candles for providing dim light and fragrance to enhance room ambience of the room is driving the market growth. Increasing use of scented candle in aromatherapy for better relaxing experience is further boosting the growth of candle market. Wide variety of candles and their easy availability owing to expanding unorganized, organized and online retail stores is also a factor contributing the market growth. However, fluctuation in raw material cost with availability of substitute products is projected to hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of candle.
Market Segmentation
The broad candle market has been sub-grouped into type and distribution channel. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Product
- Votive
- Container Candle
- Pillars
- Tapers
- Others
By Wax Type
- Paraffin
- Soy Wax
- Beeswax
- Palm Wax
- Others
By Distribution Channel
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for candle in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Candle Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Candle market include Bath & Body Works Direct Inc., Better Homes & Gardens, Bridgewater Candle Company, Colonial Candle, Circle E Candles, Diptyque S.A.S., Jo Malone London, MALIN+GOETZ, NEST Fragrances LLC, The Yankee Candle Company Inc., Conscious Candle Company, Contract Candles & Diffusers Ltd., Ellis Brooklyn, TRUDON, Le Labo. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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