Worldwide scented candles market size to grow at CAGR of 3.46% from 2022-2027, driven by increased investment in household interiors; other major factors are increased disposable income and employment, rapid industrialization and urbanization: Technavio
The scented candles market size is set to grow by USD 758.83 million from 2022 to 2027, progressing at a CAGR of 3.46% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increasing investment in household interiors is the major factor driving market growth. Increasing disposable income, rapid industrialization, rising urbanization, growing employment, and a progressive increase in investments are the major factors that are promoting new residential construction activities. However, sustained political support in the form of affordable loans and tax waiver schemes also plays a vital role in driving the demand for new houses. Therefore, investment in household interiors has also been increasing. Scented candles play a key role in growing the aesthetic appeal of residential interior designs. Many countries have made sustained progress toward eco-friendly housing that delivers the lowest usage of energy in recent years. For example, the Sierra Crest development in Fontana, California, has developed 20 residential buildings which use renewable energy such as solar and strive to become the foremost "zero net energy consumption" community in California. Such an initiative may further boost the demand for eco-friendly home decor products, including scented candles. Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the scented candles market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
The expansion of the e-commerce market is an emerging trend driving market growth. The growth of the e-commerce market and globalization and liberalization policies have simplified world trade and led to the rising trend of B2B and B2C business. Globally, advances in technology, coupled with growing Internet penetration, have enhanced online purchases and sales of goods and services. The growth potential of the e-commerce market has intensified due to the gradual shift in customer spending and shopping habits. Moreover, the growth of information and communication technology, artificial intelligence, and other modern technologies has extended the customer base, thereby creating lucrative growth prospects for key market vendors. The advent of social media, increasing Internet penetration, and the growing adoption of smartphones are the other important factors that have allowed reliable access to a wide range of products and have benefited customers who prefer the best in-home decor, including scented candles.
Significant Challenges
The major challenge impeding market growth is the stiff competition from the unorganized sector. Generally, the market is comprised of two segments, namely, the organized and unorganized sectors. The organized sector mainly consists of big retailers or manufacturers that have the required permits and follow stringent rules and regulations. While the unorganized sector comprises small retailers or manufacturers that are not registered with the government. Therefore, the scented candles market is highly fragmented and unorganized. Moreover, venturing into a candle-making business does not need huge capital or investment and this promotes small enterprises or small retailers to enter the business and leads to the expansion of sub-standard or duplicate products. Prominent candle manufacturers face severe competition from local, unorganized players that offer non-standardized products at very lower prices. This impedes the competitive scenario in the market as established candle manufacturers are forced to lower the price of their products, which eventually affects their profit margins and sales volume.
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The scented candles market segmentation by distribution channel (offline and online), product (container-based, pillars, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth of the offline segment will be significant during the forecast period. Specialty stores, hypermarkets, supermarkets, convenience stores and clubhouses as well as department stores are among the revenue streams generated through an offline distribution channel. For the purpose of generating sales through offline channels, players are expanding their stores in local and regional markets. Also, scented candle producers sell their products in specialty stores and different forms of retailing, increasing competition in the market. Retailers are introducing new businesses, wider assortments, pricing, and retail strategies to remain competitive. Such initiatives will increase segment growth during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
Companies Mentioned
Archipelago
Bolsius International BV
Conscious Candle Co.
Desirepath Mississippi, LLC
Diptyque Distribution LLC
GALA GROUP GMBH
Godrej Consumer Products Ltd.
Lalique Group SA
MVP Group International Inc.
NEST Fragrances
Paddywax LLC
Prolitec
Reckitt Benckiser Group PLC
ScentAir Technologies LLC
Seda France
The Bridgewater Candle Co.
The Procter and Gamble Co.
Welburn Candles Pvt. Ltd.
Newell Brands Inc.
S.C. Johnson and Son Inc.
Vendor Offerings
Diptyque Distribution LLC - The company offers scented candles such as pine tree candles, snow candles, spark candles and sandalwood candles.
Bolsius International BV - The company offers scented candle collections such as CleanLight, Bolsius Unity, TrueJoy and True Scents.
Conscious Candle Co. - The company offers scented candles such as vanilla caramel soy candles, french pear soy candles and clean cotton candles.
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Candle Market size is estimated to grow by USD 2,844.87 million between 2022 and 2027 accelerating at a CAGR of 5.79% during the forecast period. This report extensively covers market segmentation by product type (container-based, pillars, and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). A positive trend in the global candle market is the increasing adoption of wooden wicks.
The decorative candle retail market share is expected to increase to USD 1.94 billion from 2021 to 2026, at a CAGR of 6.5%. This report extensively covers decorative candle retail market segmentation by distribution channel (offline and online) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). One of the key factors driving the global decorative candles retail market growth is the diversified product portfolio of key vendors.
Scented Candles Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 3.46%
Market growth 2023-2027
USD 758.83 million
Market structure
Fragmented
YoY growth 2022-2023(%)
2.6
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
Europe at 30%
Key countries
US, Canada, China, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Archipelago, Bolsius International BV, Conscious Candle Co., Desirepath Mississippi, LLC, Diptyque Distribution LLC, GALA GROUP GMBH, Godrej Consumer Products Ltd., Lalique Group SA, MVP Group International Inc., NEST Fragrances, Paddywax LLC, Prolitec, Reckitt Benckiser Group PLC, ScentAir Technologies LLC, Seda France, The Bridgewater Candle Co., The Procter and Gamble Co., Welburn Candles Pvt. Ltd., Newell Brands Inc., and S.C. Johnson and Son Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global Scented Candles Market 2017 - 2021
Exhibit 18: Historic Market Size – Data Table on Global Scented Candles Market 2017 - 2021 ($ million)
4.2 Distribution Channel Segment Analysis 2017 - 2021
Exhibit 156: The Bridgewater Candle Co. - Overview
Exhibit 157: The Bridgewater Candle Co. - Product / Service
Exhibit 158: The Bridgewater Candle Co. - Key offerings
12.17 The Procter and Gamble Co.
Exhibit 159: The Procter and Gamble Co. - Overview
Exhibit 160: The Procter and Gamble Co. - Business segments
Exhibit 161: The Procter and Gamble Co. - Key news
Exhibit 162: The Procter and Gamble Co. - Key offerings
Exhibit 163: The Procter and Gamble Co. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 164: Inclusions checklist
Exhibit 165: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 166: Currency conversion rates for US$
13.4 Research methodology
Exhibit 167: Research methodology
Exhibit 168: Validation techniques employed for market sizing
Exhibit 169: Information sources
13.5 List of abbreviations
Exhibit 170: List of abbreviations
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