Candle Manufacturing in the US - Industry Market Research Report

Candle Manufacturing in the US - Industry Market Research Report

Candle Manufacturing in the US

Candle manufacturing is strongly influenced by consumer spending power. Candles have almost entirely lost their function as a source of light, but they have reemerged as a popular home decor product. They are highly discretionary purchases that compete with other home decor and air-freshening products. Still, rising consumer spending and the introduction of more scented and colored candle varieties has boosted performance. Also, the industry exhibited resiliency amid the COVID-19 pandemic, as stay-home-orders and establishment restrictions caused the majority of people to be locked in-doors. Consumers began investing more into home-improvements and other household items, candles included. Nonetheless, as restrictions begin to ease and travel patterns resume, consumers will spend less time at home and will spend less money on household items and décor, hindering the industry. Candle manufacturing revenue has been inching upward at a CAGR of 0.9% over the past five years and is expected to total $2.8 billion in 2023, when revenue will fall by an estimated 0.8%. Profit will also increase as wage costs have declined.

This industry manufactures scented and unscented candles.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.