The global candles market was $6.7 Bn in 2020, and it is highly expected to reach $14.5 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 8.0% between 2020-2030. The current pandemic of COVID-19 might make a slight difference in the growth rate. However, the higher amount of purchasing of the global industry itself expected to boost the high demand in terms of improving the quality of the materials. The popularity of using candles for home décor and other purposes is eventually playing a significant role in the market itself. Apart from that, the high rise of using candles by service providers such as restaurants, hotels, and beauty and spa is further estimated to make a lot of growth for the market over the forecast period of 2020-2030.
Global Candles Segment Is Estimated To Witness Remarkable Growth
Source: SAI Research
The candles market have been segmented based on types and material. The competition is becoming high, and it is getting tough to challenge the candle market in terms of the wax, product, and others. According to the past analyzation also the future predicting, this market will gain enough profit because of the cosy the relaxing ambience it is providing to people. Hence, people are moving towards scented candles that are widely available in various fragrances such as orange, basil, lemon, rosemary, lavender, jasmine. Each of the fragrance has something to do with people’ mindset as basil is known for making their mind calm and create positivity around people. All of these factors will be increasing the growth at any stage, and the demand for this will never stop, and eventually, it will turn into the best option for relaxation. Everything will play a major role in the global electric candles market to reach the ultimate goal during the forecast period.
North America Is Holding The Market Share By Region
Global candles market has been geographically segmented into Europe, Asia Pacific, Latin America, and the Middle East region. However, the largest share of the market is held by North America and Europe. The reasons can be many, but one of the reasons would always be finding a way of relaxing and higher density of spa. Asia-Pacific region is estimated to have a slow but promising growth over the projection period. Latin America and the Middle East are estimated to witness steady growth during the period owing to the rise of usage of candles. Hence, the fragrance for relaxing and different shapes to give the home a new look will make a positive influence behind the growth during 2020-2030.
Major Players In Global Candles Market
Key players profiled in the report include Vollmar, Baltic Candles, Bolsius International, Delsbo Candle, Duni, Hansa Candle, KORONA Candles, CerasRoura, Contract Candles, and others.
Emerging Company In Global Candle Market
Bougies la Française, DMC Visions, Inc., Stoneglow Candles, Bougie et Senteur, Scent Perfique Ltd, The Harrogate Candle Company Limited, The Luxe Candle Co., Cerería Mollá, T&H Candles Corp Candles Manufacturer, Grace and James Candle Co, Sushwin Exports, Taran Candle Mombatti, God Gift Arts, Rangbirang.Com - Nice Bloosom, The Craft Box Enterprises, Capseals, Gold Light Industries, J L Trading Company
Global Candles Market Has Been Segmented Into:
GLOBAL CANDLE MARKET, BY PRODUCT TYPE
GLOBAL CANDLE MARKET, BY RAW MATERIAL
GLOBAL CANDLE MARKET, BY GEOGRAPHY
Middle East And Africa