Luxury Candle Market Size & Share to Cross USD 525.28 Mn at a CAGR of 5.1% by 2028: The Insight Partners

The latest Luxury Candle Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as most wide-ranging documentation that comprises all the aspects of the evolving Luxury Candle market.

The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of Luxury Candle market during the forecast period, i.e., 2022-2028. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.

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According to our latest market study on "Luxury Candle Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Scented and Regular) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),'' market was valued at US$ 370.95 million in 2021 and is projected to reach US$ 525.28 million by 2028; it is estimated to register a CAGR of 5.1% from 2021 to 2028.

Rising Inclusion of Luxury Candles in Self-Care Routines to Boost Growth of Luxury Candle Market

The home furnishing and home decor sector has seen significant expansion in recent years, owing to an increase in people's interest in making their living spaces more pleasant and homely. Moreover, people spent more time inside their houses due to the outbreak of COVID-19 and stay-at-home mandates. As a result, many people began to redecorate and modify their homes. This resulted in increased sales of home decor items such as curtains, pillows, lamps, vases, and candles. Consumers are looking for new ways to brighten up their living spaces; therefore, sales of home decor items are projected to increase significantly in the coming years. Candles are an important element of celebrations, festivities, and home decor. They enhance the ambiance and add a finishing touch to the overall decoration. Moreover, candles suit any home decor theme, which make them versatile home decor products. Thus, the rapidly expanding home decor industry is significantly boosting the growth of the luxury candle market.

A few players operating in the luxury candle market include The Estée Lauder Companies Inc.; Diptyque; SISLEY; HERMES; Creed Boutique, LLC; Acqua di Parma S.r.l.; Newell Brands; Parfums de Marly; Louis Vuitton; and Maison Francis Kurkdjian. These players majorly focus on product innovation and research and development. They incorporate premium and unique fragrances in the product to acquire large consumer groups across the globe. Such strategies are projected to open lucrative growth opportunities for the luxury candle market in the coming years.

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The research provides answers to the following key questions:

1. What is the estimated growth rate of the market for the forecast period 2022-2028? What will be the market size during the estimated period?

2. What are the key driving forces responsible for shaping the fate of the Luxury Candle market during the forecast period?

3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Luxury Candle market?

4. What are the prominent market trends influencing the development of the Luxury Candle market across different regions?

5. What are the major threats and challenges likely to act as a barrier in the growth of the Luxury Candle market?

6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Luxury Candle market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Luxury Candle market segments and regions.

Our reports will help clients solve the following issues: -

Insecurity about the future:

Our research and insights help our clients anticipate upcoming revenue compartments and growth ranges. This will help our clients invest or divest their assets.

Understanding market opinions:

It is extremely vital to have an impartial understanding of market opinions for a strategy.

Our insights provide a keen view on the market sentiment. We keep this reconnaissance by engaging with Key Opinion Leaders of a value chain of each industry we track.

Understanding the most reliable investment centers:

Our research ranks investment centers of market by considering their future demands, returns, and profit margins. Our clients can focus on most prominent investment centers by procuring our market research.

Evaluating potential business partners:
Our research and insights help our clients identify compatible business partners.

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Luxury Candle Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers Goods, Chemicals and Materials.

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