Candle Market Size, Share & Growth, Industry Trends Report, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Candle Market


The global candle market size was valued at USD 3.45 billion in 2018. High consumption of candles as aesthetic-appealing product among female millennials for household application is anticipated to drive the growth. Beauty retailers, independent brands and fashion houses have been coming up with innovative products to constantly capture new customer base and to retain the older ones. Over the past few years, the commercial utility of candles has been witnessing a rise, with majority of spa and massage centers using scented candles for soothing effect. Similarly, restaurants and fine dines are increasingly using the product to create a beautiful and aromatic ambience for the customers.
Demand for organic candles made of natural wax is on the rise over the past few years. The demand is positively influenced by preference for candles that do not result in carbon blackening. Along with this, rising awareness among millennials regarding the effects of burning candles on the environment is encouraging them to strive toward reducing carbon footprint. Synthetic candles made up of contaminated oil, lead wicks, and synthetic fragrance cause indoor air polluting which consequentially lead to respiratory and other health issues. The U.S. Environmental Protection Agency (EPA) found that the excessive use of Volatile Organic Compounds (VOCs) in candles can cause headache, skin irritation, fatigue, nausea, runny nose, dizziness, irritated mood, and even cancer and organ damage.
 
Lighting candles has a great significant in celebrations, religious ceremonies, get-togethers, and festivals. It not only creates great ambience outside but also provides a soothing effect to the mind.
An increasing use of candles can be seen in commercial places. Spa and massage centers have rapidly increased the use of these products. Candle massage is a popular therapy, which is gaining traction. These products relieve back pain, osteoarthritis, headache, and anxiety.

Market Segmentation, Outlook & Viewpoint: Global Candle Market


Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Votive

Container Candle

Pillars

Tapers

Others


Wax Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Paraffin

Soy Wax

Beeswax

Palm Wax

Others


Distribution Channel Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Offline

Online


Key Players, Recent Developments & Regional Insights: Global Candle Market


Votive segment held a candle market share of more than 25% in terms of revenue in 2018, owing to the slow burning capacity of these products. These products are available in various colors including pink, red, yellow, blue, purple, black, and white. Additionally, Votive forms are around 5 cm tall and have a width of around 4 cm and thus, they can burn for a long time span. They are placed on a glass holder while lighting, which boosts the aesthetic appeal along with the fragrance.
Pillar forms is expected to witness the fastest CAGR of 9.0% from 2019 to 2025. This growth is attributed to their growing use in get-together and parties. The ample burn time ensures low replacement cost. These products are often used as a centerpiece for interior decorations. They do not require holders and are smokeless. On an average an inch of the candle can burn for an hour.
Wax Insights
Paraffin held a market share of more than 30% in 2018, attributed to its low cost and its ability to the ability of this type of wax to mold in various shapes. This petroleum byproduct is exceptionally suitable for making floating candles as the wax is completely water resistant. Furthermore, the colorless and semi translucent nature of these products allows inclusion of colors which boosts its decorative appeal.
Soy wax segment is expected to expand at a CAGR of 8.5% from 2019 to 2025. This wax is created from soybean, a natural resource, which has lower carbon footprints. Soy has high melting point and thus, burns slowly. The slow burning process makes these products better at holding colors as well as fragrance.
Distribution Channel Insights
Offline accounted for the largest market share in 2018 as the people in developing countries including China, India, and Bangladesh hugely purchase the products from local convenience and departmental stores. People enjoy shopping through brick and mortar stores for decorative items during festive seasons. The offline channels also provide the choice of physical verification to buyers as they can test the fragrance before purchasing the scented products.
 
Online sales is expected to witness the fastest growth over the forecast period as a result of the increasing number of millennials using smart phones and tablets. These platforms provide access to various products irrespective of any regional and country barriers. Furthermore, big brands such as Yankee and Louis Vuitton prioritize the initial sales of products through online channels.

Regional Insights
North America was the largest market, accounting for more than 30% of the global revenue share in 2018. The region is expected to continue leading in near future attributed to increasing product demand during the festive seasons such as Easter and Christmas. High demand for the product for the purpose of family gatherings, fine dining, and beauty and spa is anticipated to positively influencing the growth. The presence of popular candle manufacturing companies and frequent product launches in U.S. are driving the market. Another trend, driving the market in U.S. is gifting candles during festivals and special occasions.
Asia Pacific is expected to expand at the fastest CAGR of 9.2% from 2019 to 2025. This growth is attributed to the rising adoption of luxury lifestyle and demand for aesthetic candles from middle-class income groups; especially in emerging economies including China, India, and Bangladesh. Furthermore, increasing penetration of dine-out places in these countries as a result of rising working class adults is expected to drive the regional market.
Candle Market Share Insights
Some of the key players include Bath & Body Works, Better Homes and Garden, Bridgewater Candles, Colonial Candle, Circle E Candles, Diptyque, Jo Malone, Malin + Goetz, NEST, Slatkin & Co, Thymes, Village Candles, White Barn Candles and Yankee Candles. The presence of various international as well as local players has made the market highly fragmented. The barrier for entry is very low. Majority of associations for orphans and mentally and physically challenged people employ them in candle manufacturing. China is one of the key manufacturing destinations, which is popular for the production of various color customized handcrafted candles.

Key Insights Covered: Global Candle Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Candle industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Candle industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Candle industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Candle industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Candle industry.

Research Methodology: Global Candle Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other