Candle Market to Worth US$ 15.8 Billion by 2032 | With a 5.24% CAGR - IMARC Group

The latest report published by IMARC Group, titled "Candle Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on candle market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global candle market size reached US$ 9.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.24% during 2024-2032.

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A candle is a simple yet versatile source of illumination, typically consisting of a wick surrounded by wax. Used for both practical and decorative purposes, candles emit a warm and soothing light, creating a cozy ambiance in various settings. They come in diverse shapes, sizes, and scents, catering to individual preferences. Beyond lighting, candles often serve ceremonial, religious, or meditative purposes, symbolizing hope, warmth, and tranquility. The process of burning a candle involves the gradual melting of wax, with the wick serving as the fuel source. Candles remain timeless in their appeal, providing a timeless and atmospheric addition to homes, events, and rituals.

Market Trends:

The global market is majorly driven by the increasing demand for home décor and ambiance products. Candles, with their aesthetic appeal and mood-enhancing qualities, have witnessed a surge in popularity as consumers seek to create inviting and comforting spaces in their homes. Furthermore, sustainability is another key factor shaping the candle market. With growing environmental awareness, there is a rising demand for eco-friendly and natural wax options, such as soy or beeswax candles. Consumers are increasingly drawn to products that align with their values, pushing manufacturers to adopt sustainable practices in production and packaging. Besides, aromatherapy and wellness trends contribute to the market's growth, with scented candles gaining popularity for their ability to create a calming or energizing atmosphere. The holistic approach to well-being has led to innovative fragrances and therapeutic blends. Moreover, e-commerce has transformed the distribution channels for candles, providing consumers with easy access to a wide variety of options. Online platforms enable niche and artisanal candle makers to reach a global audience, fostering diversity and competition in the market. The market is responsive to design and aesthetic preferences, with consumers seeking unique and visually appealing candle shapes, colors, and packaging. Celebrity collaborations, limited editions, and personalized/customized offerings further drive consumer interest and engagement.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Bath & Body Works Direct Inc.
• Bridgewater Candle Company
• Circle E Candles Inc.
• Contract Candles & Diffusers Ltd.
• Diptyque
• Empire Candle Co. LLC
• Malin +Goetz Inc.
• Mvp Group International Inc.
• S. C. Johnson & Son Inc.
• Stonewall Kitchen
• The Estee Lauder Companies Inc.
• The White Company
• The Yankee Candle Company (Newell Brands)
• Thymes LLC

Candle Market Segmentation:

Our report has categorized the market based on region, product, wax type, and distribution channel.

Breakup by Product:

• Votive
• Container candle
• Pillars
• Tapers
• Others

Breakup by Wax Type:

• Paraffin
• Soy wax
• Beeswax
• Palm wax
• Others

Breakup by Distribution Channel:

• B2B
• B2C

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.