Published Date: 26-May-2023
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According to a new report, published by KBV research, The Global Luxury Candle Market size is expected to reach $939 Million by 2029, rising at a market growth of 10.3% CAGR during the forecast period.
The Pillar market is poised to grow at a CAGR of 10.7% during (2023 - 2029). To appeal to customers who favor eco-friendly products, businesses produce pillar candles in various styles, including sculptures and diverse shapes made of soy or beeswax. These candles are used to rapidly brighten the space and give depth to otherwise plain surfaces. Customers consider form, design, texture, color, and type of wax while buying pillar candles.
The Departmental Stores market is leading the Global Luxury Candle Market by Distribution Channel in 2022; thereby, achieving a market value of $442.3 Million by 2029. As they offer a large selection of high-end candles, department stores are becoming increasingly popular. Customers may find many luxury candles in various sizes, shapes, pricing ranges, and scents at retailers, including Bed Bath & Beyond, Walmart, and Bath & Body Works.
The Soywax market would exhibit a CAGR of 10.6% during (2023 - 2029). Soy wax candles have a slow burn and appeal to those looking for eco-friendly substitutes. The candle business is continually advancing and moving toward natural resources. Designer candles are made by candle companies utilizing essential oils and soy blends. The amount of soybeans processed in the US is increasing, which will increase the availability of soy wax for candle makers.
The Europe market dominated the Global Luxury Candle Market by Region in 2022; thereby, achieving a market value of $323.1 Million by 2029. The Asia Pacific market is estimated to grow at a CAGR of 10.7% during (2023 - 2029). Additionally, The North America market would register a CAGR of 9.8% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/luxury-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 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 Distribution Channel
By Wax Type
Unique Offerings from KBV Research
North America Luxury Candle Market size & Opportunities 2023-2029
Europe Luxury Candle Market & Growth Forecast 2023-2029
Asia Pacific Luxury Candle Market Share & Industry Outlook to 2029
LAMEA Luxury Candle Market Growth, Trends & Forecasts 2023-2029