The Europe Candle Market would witness market growth of 5.5% CAGR during the forecast period (2022-2028).
Candle therapy has been gaining much traction as it is known to ease back pain, headaches, anxiety, and osteoarthritis. Similarly, fine dining spaces and restaurants that use luxury candles to create an aromatic ambiance for their customers have increased. Also, candles are essential in religious ceremonies, celebrations, festivals, and get-togethers. Theme-based outdoor parties, weddings, and events have contributed to candle demand.
The need for organic candles has also increased with the rising awareness of the environment. Burning candles have a good effect on the health of the user as part of a healthy life is self-care and having mental peace. Lighting a candle can provide a suitable atmosphere for calmness and sense of well-being in many individuals. Lighting a candle can also help in medication and prayer as lighting a candle during medication can assist the user in their practice.
The UK home décor sector is increasing faster than retail markets because customers opt for more cost-efficient options to give their homes a new look. The rising home décor industry has seen increased funding by many market players to introduce new and trend-led seasonal collections in stores while expanding the advertising for their products. Also, the new luxury products are giving their users a unique, eco-friendly experience, luring more consumers towards them. In addition, the home décor industry’s expansion will attract more consumers toward decorative products like candles, which will surge the market’s growth.
The Germany market dominated the Europe Candle Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,132.6 million by 2028. The UK market is anticipated to grow at a CAGR of 4.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 6.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Candle Market will Hit $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.
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