Candles Market Analysis Is Expected To Reach US$ 11,707.76 Mn By 2025 | Credence Research

The latest market report published by Credence Research, Inc. “Candles Market By Type (Pillar Candles, Floating Candles, Votive Candles, Tapers, Filled Candles, Tealight Candles, Gel Candles, Specialty Candles, Liquid Candles), By Distribution Channels (Specialty Or Gift Shops, Department Or Home Decor Stores, Mass Merchandise Retailers, Direct Sales, Internet), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) — Growth, Future Prospects And Competitive Analysis 2015–2025” the global candles market was valued at US$ 7,567.50 Mn in 2016, and is expected to each US$ 11,707.76 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.

Browse the full Candles Market report at https://www.credenceresearch.com/report/candles-market

Market Insight

Consumers are increasingly purchasing candles for their home decor, and for aromatherapy-like stress reduction and relaxation. The ease of purchase as well as the availability of various type of candles on multiple distribution channels is prompting more and more people to purchase these products. Proliferation in the number of distribution channels has benefited the sales through department, mass merchandise retailers and home decor stores. Supermarkets and hypermarkets are benefiting due to their discounted prices and various offers particularly attracting more and more buyers. The popularity of e-commerce has significantly increased candles sales. The ease of purchase as well as the availability of extensive information and reviews on products online is prompting more and more individuals to buy these products.

Volatility in the prices of raw materials is the major factor hampering the market growth. Paraffin is still the most widely used base material for candle production. Meanwhile in 2014 and 2015, almost 33% of paraffin production in some countries was shut down; forcing candle manufacturers to import large volumes of base material at higher prices. Increasing usage of candles in various applications provide immense opportunities to the manufacturers present in this market.

Competitive Insights

The market is highly fragmented owing to presence of numerous players. The barriers to entry in the candle industry are low. The small candle makers are rising up and taking their piece of the pie. Many customers are opting to purchase candles from the smaller hand crafted market owing to the uniqueness, quality, and the ability to customize their orders.

Key Trends

Rising demand from emerging economies

The market is projected to benefit from growing demand for candles from various applications

Availibity of the product in various shapes, colors, types and retail formats

By Type

Pillar Candles
Floating Candles
Votive Candles
Tapers
Filled Candles
Tealight Candles
Gel Candles
Specialty Candles
Liquid Candles
Other

By Distribution Channel

Specialty or Gift Shops
Department or Home Decor Stores
Mass Merchandise Retailers
Direct sales
Internet
Others (Unorganized sales)

By Geography

North America
Europe
Asia Pacific
Latin America (LATAM)
Middle East and Africa (MEA)

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