The Latin America, Middle East and Africa Luxury Candle Market would witness market growth of 13.6% CAGR during the forecast period (2023-2029).
Popular blends for encouraging rest, calmness, and peace include lavender, bergamot, and sandalwood. Sandalwood is known for its calming effects, which can assist in fostering a deeper sense of connection to oneself. Lavender has various calming properties that are excellent as a stress reliever. Bergamot essential oil improves the mood and serves to restore balance.
Chamomile and ylang-ylang are two other fragrant scents that could encourage a peaceful environment. While ylang-ylang has been utilized for comfort and clarity since dawn, chamomile has long been associated with peaceful slumber or quiet moments of reflection. An earthy scent that helps achieve inner serenity is vetiver. These smells can aid in achieving present-moment tranquility.
An olfactory experience is provided when burning a high-end scented candle because soy wax emits scents blended with medicinal essential oils as it burns. These candles provide therapeutic advantages like increased self-awareness and stress reduction and evoke pleasant memories and feelings.
Dubai has long been one of the most popular tourist locations. Massive buildings like the Burj Khalifa or Burj Al Arab, highly known throughout the region, draw people to these locations. The area also offers various hotels, posh spas, and fine-dining restaurants. A direct contribution of $ 18.7 billion, or roughly 5.2% of the UAE's GDP, was made by the tourism & travel sector in 2016. From 2017 to 2027, the industry is anticipated to grow at a rate of 5.1% per year, representing 5.4% of the net GDP in 2027. The robust expansion of the tourism industry and the abundance of five-star resorts and hotels will increase the use of candles for various purposes, driving up demand for luxury candles.
The Brazil market dominated the LAMEA Luxury Candle Market by Country in 2022; thereby, achieving a market value of $16.1 Million by 2029. The Argentina market is poised to grow at a CAGR of 14.2% during (2023 - 2029). Additionally, The UAE market would register a CAGR of 13.3% during (2023 - 2029).
Based on Product, the market is segmented into Container, Pillar, Votive, Tapers and Others. Based on Distribution Channel, the market is segmented into Departmental Stores, Specialty Stores, Stand-Alone Boutiques and Online. Based on Wax Type, the market is segmented into Paraffin, Soywax, Beeswax, Palm Wax and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Luxury Candle Market is Projected to reach USD 939 Million by 2029, at a CAGR of 10.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LVMH SE, Diptyque SAS (Manzanita Capital UK LLP), Hermès International, Trudon, Ellis Brooklyn, E&B Parfums SL, LUMIRA Co Pty Ltd, Le Labo (The Estée Lauder Companies, Inc.), Byredo (PUIG, S.L.) and Fornasetti S.P.A.
By Product
By Distribution Channel
By Wax Type
By Country
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