Luxury Candle Market briefs 2022: Key Players, Trends, Share, Size, Growth- Forecast to 2028
The luxury candle market was valued at US$ 370.95 million in 2021 and is projected to reach US$ 525.28 million by 2028; it is expected to grow at a CAGR of 5.1% from 2021 to 2028.
The global luxury candle market growth is being driven by the rising adoption of aromatherapy, increasing preference for home decor, and growing number of high net worth individuals (HNWIs). The attractive packaging and novel fragrance being incorporated in luxury candles pave the way for profitable growth opportunities for the active vendors in the market.
In 2020, North America held the largest share of the global luxury candle market, and Asia Pacific is estimated to register the fastest CAGR over the forecast period. The rising inclination of people in countries such as China, India, and Japan toward self-care and self-love is driving the demand for luxury candles. Moreover, the increasing influence of social media and celebrities on people's lifestyles is one of the significant factors driving the growth of the luxury candles market in Asia Pacific. People in the region readily follow social media trends and influencers and celebrities. Manufacturers of luxury candles collaborate with celebrities and social media influencers and are also launch paid promotion campaigns to boost the sales of their products. Moreover, rising per capita income and growing expenditure on home decor and home renovation activities across Asia Pacific are expected to propel the growth of the luxury candles market over the forecast period.
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The report provides the current market size for Luxury Candle, defines trends and presents growth forecasts for nine years from 2019 to 2028. 2020 is considered as the base year, and 2021 to 2028 is forecast year for the entire report. All the market numbers for revenue are provided in US dollars. The market is analyzed by the supply side, considering the market penetration of Luxury Candle Market for all the regions globally.
The scope of the Luxury Candle Market Report:
The research report focuses on the current market trends, opportunities, future potential of the market, and competition in the Luxury Candle Market in North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also provides market insights and analysis of the Luxury Candle Market, highlighting the technological market trends, adoption rate, industry dynamics, and competitive analysis of major players in the Luxury Candle industry.
The global Luxury Candle Market is segmented based on deployment, component, solution, application, and geography. The segmentation in this research study has been finalized post in-depth secondary research and extensive primary research. In addition, the market is also segmented on the basis of products offered by the leading participants in the industry in order to understand widely used market specific terminologies. Thus, we have incorporated the segments of the research and have finalized the market segmentation.
Major highlights of the report:
All-inclusive evaluation of the parent market
Evolution of significant market aspects
Industry-wide investigation of market segments
Assessment of market value and volume in past, present, and forecast years
Evaluation of market share
Tactical approaches of market leaders
Lucrative strategies to help companies strengthen their position in the market
Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Procurement as-a-Service Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.
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Major key players covered in this Luxury Candle Market report The key players operating in the global 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.
Luxury Candle Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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Reason to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Luxury Candle Market.
Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
The key findings and recommendations highlight crucial progressive industry trends in the Luxury Candle Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth at a certain extent.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
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, Chemicals and Materials.
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