Global Candle Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Global Candle Market, Size, Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

Global Candle Market size is estimated to be valued at around US$ 15.11 Billion by 2030, according to Renub Research. Candles, timeless beacons of warmth and illumination, weave stories of flickering flames that dance gracefully in the shadows. Evoking a sense of tranquility, those waxen wonders have been loved throughout centuries, symbolizing hope, celebration, and remembrance. From the simplest taper to intricately crafted scented pillars, candles remodel regular moments into terrific stories. Their gentle glow kindles the environment, fostering intimate conversations or solitary reflections. Aromatherapy candles wake up the senses, infusing regions with aromatic serenity. As both practical light sources and inventive expressions, candles bridge the realms of functionality and aesthetics, casting a gentle, comforting glow that transcends time and culture.

Global Candle Market is projected to increase at a CAGR of 6.17% between 2024 and 2030

The rising awareness of home décor has multiplied candles beyond functional lighting, positioning them as essential aesthetic elements that infuse homes with ambiance and warmth. This trend reflects a commitment to crafting personalized and comfortable living spaces, particularly embraced by millennials and younger generations. Concurrently, the surge in interest in healthy being and self-care has intensified the demand for scented candles, substantially aromatherapy types recognized for their calming and mood-boosting fragrances. As consumers increasingly prioritize experiential consumption, candles become versatile conduits for sensory experiences, providing relaxation, romance, or celebration in a world wherein significant stories hold more value than material possessions.

Further, the global candle market is witnessing considerable product diversification, transcending conventional paraffin wax options to embrace eco-friendly options like soy wax, beeswax, and vegetable wax. This shift caters to the increasing demand from environmentally aware consumers. Simultaneously, the posh candle segment is prospering, with manufacturers providing exclusive fragrances, sustainable substances, and sophisticated packaging. E-commerce platforms and direct-to-consumer sales have performed a pivotal function in this evolution, supplying customers with convenient access to various candle alternatives while circumventing traditional retail channels. This dynamic panorama underscores a broader industry trend towards sustainability, luxury, and streamlined accessibility in the candle market.

Besides, the candle market share is experiencing growth propelled by rising disposable earnings, particularly in Asia and the Middle East, where increased spending power is fueling market growth. Concurrently, the heightened use of candles in hospitality and occasions, with hotels, eating places, and event planners incorporating them to craft exclusive atmospheres, amplifies the demand. Also, the long-lasting cultural and religious importance of candles throughout the globe ensures a constant demand for particular types and patterns, as candles remain critical to various ceremonies and rituals. These diverse factors underscore the multifaceted drivers propelling the candle market growth. As a result, the Global Candle Market was US$ 9.94 Billion in 2023.

Paraffin wax dominates the global candle market

The global candle market is fragmented into Plam Wax, Soy Wax, Bees Wax, Paraffin, and Others by wax type. Paraffin wax is the dominant force in the international candle market, holding sway because of its considerable availability, cost-effectiveness, and ease of production. This petroleum-derived wax has long been preferred for its capability to produce steady and vivid flames, making it a reliable choice for numerous candle types. Despite the increasing recognition of effective alternatives like soy, beeswax, and vegetable waxes, paraffin's market dominance persists, particularly in industrially produced candles. Its versatility, affordability, and established manufacturing infrastructure contribute to its continued prevalence, reflecting stability between purchaser preferences, enterprise practices, and financial concerns in the ever-evolving candle market.

The economic category is pervasive in the global candle market, representing a dominant force driven by cost-conscious consumer preferences

By category, the global candle market is categorized into economical and luxury. The economic category has a significant impact on the worldwide candle market. As budget-friendly alternatives, candles in this category cater to a wide demographic, ensuring sizable accessibility. Characterized by affordability without compromising quality, these candles are regularly mass-produced and extensively available, resulting in a widespread market share. The dominance of the economic class reflects the global demand for practical, cost-effective illumination solutions. Despite the emergence of premium and specialty candles, the long-lasting popularity of economic choices underscores the significance of cost sensitivity and affordability in shaping purchaser selections in the dynamic panorama of the candle market.

Container candles have become the leading type of candles in the worldwide market

By product, the global candle market is divided into Votive, Container Candle, Pillars, Tapers, and Others. Container candles have asserted dominance in the international market, emerging as a widespread need due to their convenience, safety, and aesthetic appeal. This section encapsulates candles housed in jars, tins, or different containers, presenting a contained, mess-free experience and eliminating concerns associated with traditional free-standing candles. The versatility of box candles caters to diverse purchaser alternatives, from scented types to decorative designs. The benefits of storage and transportation further fuel their popularity. As customers increasingly seek realistic and elegant home decor solutions, the dominance of container candles underscores their necessary function in shaping the modern candle market, blending capability with visible charm.

Supermarket & hypermarket dominance underscores their pivotal position in steering the trajectory of the global candle market

By distribution channel, the global candle market comprises Online Retail, Specialty Stores, Supermarkets and hypermarkets, Departmental Stores, and Institutional Sales. Supermarkets and hypermarkets dominate the worldwide candle market, offering unrivaled accessibility and comfort. This retail landscape presents numerous candles, from everyday necessities to distinctive items, fostering sizable purchaser alternatives. The one-stop-store model guarantees outstanding presentations, encouraging impulse purchases and deepening market penetration. With substantial reach, streamlined logistics, and competitive pricing, these retail giants wield significant effects, shaping consumer options and playing a vital position in the distribution chain.

United States is poised to remain a key player in the global candle market

By Country, the global candle market is broken up into United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, and Rest of World. The candle market in the United States radiates a warm glow, evidenced by a 2023 National Candle Association survey revealing that 74% of Americans own candles, with 39% lighting them weekly. Aligning seamlessly with the American penchant for crafting relaxed and personalized domestic environments, candles become essential temper-setters for rest, romance, or celebration.

Seasonal festivities, including Christmas, Thanksgiving, Diwali and Halloween, create a surge in demand for intertwining candles with cultural consolation. DIY trends amplify candle making, while the luxurious section flourishes, driven by a desire for sensory experience and extended home decor. Sales figures, various services, strong retail channels, manufacturing prowess, and effective marketing techniques light up the thriving and multi-faceted US candle market.

Competitive Landscape

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

In January 2023, Diptyque launched a new line of scented candles inspired by nature. The line functions pine needles, fig leaves, and jasmine.

In March 2023, Yankee Candle released a new line of scented candles made with sustainable soy wax. The line functions several scents, including lavender, vanilla, and citrus.

Renub Research report titled “Global Candle Market By Wax Type (Plam Wax, Soy Wax, Bees Wax, Paraffin, and Others), Category (economical, and luxury), Product (Votive, Container Candle, Pillars, Tapers, and Others), Distribution Channel (Online Retail, Specialty Stores, Supermarkets & Hypermarkets, Departmental Stores, and Institutional Sales), Country (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand), South America (Brazil, Mexico, Argentina), Middle East & Africa (South Africa, Saudi Arabia, UAE), and ROW), Company Analysis (Portmeirion Group PLC, Newell Brands Inc., Estée Lauder Companies Inc., Lalique Group SA, Bath & Body Works, Inc., MVP Group International, Inc., Diptyque Paris, NEST New York, Thymes, LLC, and Village Candle)” provides complete study of Global Candle Industry.

Wax Type – Global Candle Market breakup in 5 viewpoints:

1. Plam Wax
2. Soy Wax
3. Bees Wax
4. Paraffin
5. Others

Category – Global Candle Market breakup in 2 viewpoints:

1. Economical
2. Luxury

Product – Global Candle Market breakup in 5 viewpoints:

1. Votive
2. Container Candle
3. Pillars
4. Tapers
5. Others

Distribution Channel – Global Candle Market breakup in 5 viewpoints:

1. Online Retail
2. Specialty Stores
3. Supermarkets & Hypermarkets
4. Departmental Stores
5. Institutional Sales

Country – Market breakup in 26 Countries Candle Industry viewpoints:

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 Indonesia
3.5 South Korea
3.6 Thailand
3.7 Malaysia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

6. Rest of the World

All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Development
• 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