The North America Candle Market would witness market growth of 5.1% CAGR during the forecast period (2022-2028).
Candles were most prominently used for illumination before electrical lighting and are still used in areas without electricity. Nowadays, candles are used for their scent and aesthetic values, to create a warm and soft ambiance, for emergency lighting during power out or power failure, and for ritual and religious purposes. Scented candles have seen significant popularity rises in recent times.
With the increasing awareness of mental well-being and self-care, the number of consumers ordering candles through online modes has also increased. Furthermore, the spending on redecoration and renovation of homes has also surged. In recent years there has been a rise in the commercial utility of candles, with many massage centers and spas utilizing candles in combination with essential oils to give a soothing effect. The surging popularity of aromatherapy and spas are creating a robust candle demand.
Canada's home décor retail industry is rising at a rapid pace. The rise is driven by numerous factors, which include the surge in household income and the desire of people to enhance their homes. Several significant trends are shaping the home décor sector. Out of them, the most essential is the shift toward online shopping. Many Canadians are opting to shop from online mediums due to the online retailers' selection and convenience. Another key trend affecting the home décor industry is the rise of many small businesses. More small businesses are now operating in the space than ever before. These businesses generally offer unique products and services that large firms cannot provide. Because of this, they are attracting more consumers towards them and aiding the candle market to grow in the region.
The US market dominated the North America Candle Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,083.2 million by 2028. The Canada market is exhibiting a CAGR of 7.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 6.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Candle Market is Predict to reach $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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By Wax Type
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