Published Date: 21-Feb-2023
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According to a new report, published by KBV research, The Global Candle Market size is expected to reach $16.9 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
The Container Candle segment is showcasing a CAGR of 5.4% during (2022 - 2028). The growth is attributed to their usage as a decorative item. They are small in size and are in a heat-resistant container. They are made from wax filled in a heat-resistant container and a central wick in its basic form. They are used for their aesthetic purposes and majorly for safety. Their utilization of added protection due to the container and aesthetic appeal is expected to boost the market growth.
The Offline segment acquired maximum revenue share in the Global Candle Market by Distribution Channel in 2021 thereby, achieving a market value of $11.6 billion by 2028. This is due to the rising demand for home décor items and the increasing importance of candles in decreasing stress and enhancing the user’s mood. Many stores offer customers a more comprehensive range of candles in different shapes, price ranges, sizes, and scents. Hence, the broader availability of these products and the benefits of candles are expected to boost the market segment growth.
The Beeswax segment has shown the growth rate of 6.6% during (2022 - 2028). The growth is the result of the rising importance of wellness and sustainability. Candles made from beeswax produce a negative ion when ignited and aid clear the pollutants in the air. This factor also helps in enhancing the ambiance and mood. These candles cause only a minimal amount of indoor air pollution. Also, beeswax candles are ideal for people with asthma and sinus. The factors like less air pollution and their utilization by asthma patients are expected to boost the market growth.
The North America market dominated the Global Candle Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.7 billion by 2028. The Europe market is exhibiting a CAGR of 5.5% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 6.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/candle-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Distribution Channel
By Wax Type
Unique Offerings from KBV Research
North America Candle Market Future Scope & Opportunities 2022-2028
Europe Candle Market Size & Growth Forecast 2022-2028
Asia Pacific Candle Market Size, Share & Industry Outlook to 2028