The Asia Pacific Candle Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
A wax is a flammable, carbon-containing solid that becomes liquid when heated above room temperature, or it can also be termed as fuel for candles. When the scented candle is lit, the wax melts, vaporizes, and is combusted, producing light and heat. Any oil can be turned into wax, giving plenty of choices for candle usage. Different types of wax can be used to create simple and scented candles. Beeswax has been used to make candles for a long time, and the newest waxes are obtained from petroleum and coconut.
Each type of candle wax has different characteristics, making some burn slowly while producing smoke-free flame, while some are better at holding and transmitting fragrance. Soy wax usually has the longest burning time, but new and enhanced ingredients are being made to create a candle that burns the slowest. The length of time a candle burns is majorly affected by things like the place of candle burning, room temperature, wick, and container the candle utilizes are among the other factors to affect the time of the candle.
The Indian tourism sector is essential to the “Make in India” program. The tourism industry in India plays a crucial role in the significant economic multiplier. India is known to give world heritage sites, geographical diversity, and niche tourism products like adventure, eco-tourism, medicine, etc. India aims to raise cruise passenger traffic from 0.4 million to 4 million. The tourism sector’s growth will also enhance the hospitality industry and hotels in the nation, which will, in turn, propel the usage of decorative items like candles by the commercial sectors and thereby propel the market’s growth.
The China market dominated the Asia Pacific Candle Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,420 million by 2028. The Japan market is estimated to grow a CAGR of 5.4% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 6.7% during (2022 - 2028).
Based on Product, the market is segmented into Votive, Container Candle, Pillars, Tapers, and Others. Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Wax Type, the market is segmented into Paraffin, Soy Wax, Beeswax, Palm Wax, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Candle Market is Projected to reach USD 16.9 Billion by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Yankee Candle Company (Newell Brands, Inc.), Estee Lauder Companies, Inc., Bed Bath & Beyond, Inc., Diptyque (Manzanita Capital Ltd.), Ellis Brooklyn, Trudon, Contract Candles & Diffusers Ltd., Conscious Candle Co., The Bridgewater Candle Company, and NEST Fragrances.
By Product
By Distribution Channel
By Wax Type
By Country
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