Candle Market worth $13.85 billion by 2030, growing at a CAGR of 6.29% - Exclusive Report by 360iResearch

The "Candle Market by Raw Material (Beeswax, Palm Wax, Paraffin Wax), Product (Container Candle, Pillars, Tapers), Distribution, End-User - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Candle Market to grow from USD 8.50 billion in 2022 to USD 13.85 billion by 2030, at a CAGR of 6.29%.

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Candles are primarily used for their aesthetic value and scent, mainly to set soft, warm emergency lighting during electrical power outages and for religious or ritual purposes. Traditionally, a candle's primary purpose has been to produce ambiance with its light, heat, and aroma. The increasing demand for aesthetically appealing products and the growing use of candles during the celebration of festivals are accelerating their use worldwide. Additionally, the growing trend of candle massages for relaxation purposes is expanding its use globally across spas and aromatherapy centers. However, the fluctuating cost of raw materials, adverse effects associated with exposure to harmful chemicals, compliance issues for candle production, and availability of flameless candles may limit their use by consumers. Moreover, the increasing availability of eco-friendly, scented, and innovative candle designs is expected to encourage their adoption by consumers across the globe.

The candle market is rapidly evolving across the Americas owing to the growing popularity of scented candles and accelerating use in aromatherapy centers. There is a significant surge in the adoption of candles by the consumers of the EMEA and APAC region, which is attributed to the increased use for religious purposes. Candles are widely used in developing economies for emergency lighting as they are affordable and readily available in convenience stores. Moreover, in APAC, the growing popularity of various scented candles and the increasing availability of aromatic and customized candles on eCommerce platforms are expected to encourage their adoption by customers worldwide.

Market Segmentation & Coverage:

This research report categorizes the Candle Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Raw Material, market is studied across Beeswax, Palm Wax, Paraffin Wax, Rapeseed Wax, Soy Wax, and Stearin. The Paraffin Wax commanded largest market share of 28.50% in 2022, followed by Beeswax.

Based on Product, market is studied across Container Candle, Pillars, Tapers, and Votive. The Pillars commanded largest market share of 29.43% in 2022, followed by Container Candle.

Based on Distribution, market is studied across Offline and Online. The Offline commanded largest market share of 81.49% in 2022, followed by Online.

Based on End-User, market is studied across Commercial and Individual. The Commercial commanded largest market share of 76.57% in 2022, followed by Individual.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.35% in 2022, followed by Americas.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Candle Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Candle Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Candle Market, highlighting leading vendors and their innovative profiles. These include Armadilla Wax Works, Inc., AS Hansa Candle, AUS Wax Pty. Ltd., Baltic Candles Ltd., Bath & Body Works Direct, Inc., Bolsius International BV, Bridgewater Candle Company, Candle Delirium, Inc., Candles Scandinavia AB, Ceras Roura S.A., Chandelles Tradition MB Inc., Circle E Candles, Coastal Living Co., Colonial Candle, Conscious Candle Co., Contract Candles & Diffusers Ltd., Delsbo Candle AB, Duni AB, Ellis Brooklyn, Empire Candle Co., LLC, Gala Group GmbH, Jo Malone London Inc., M and Sense (Suzhou) Arts and Crafts Co., Ltd., Malin+Goetz Inc., Mimico Candle Company, MVP Group International, Inc., NEST Fragrances, Newell Brands, Inc., OZ Candles, S.C. Johnson & Son, Inc., The Kelowna Candle Factory, Wilhelm Vollmar Sternstrasse GmbH, and Wright Power.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Candle Market, by Raw Material
7. Candle Market, by Product
8. Candle Market, by Distribution
9. Candle Market, by End-User
10. Americas Candle Market
11. Asia-Pacific Candle Market
12. Europe, Middle East & Africa Candle Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Candle Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Candle Market?
3. What is the competitive strategic window for opportunities in the Candle Market?
4. What are the technology trends and regulatory frameworks in the Candle Market?
5. What is the market share of the leading vendors in the Candle Market?
6. What modes and strategic moves are considered suitable for entering the Candle Market?

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