A recent report published by Infinium Global Research on the candle market provides an in-depth analysis of segments and sub-segments in the global as well as regional candle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional candle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global candle market. According to the report, the global candle market is projected to grow at a CAGR of 6.2% over the forecast period of 2019-2025.
Nowadays candles are used as a part of home decor. The candle manufacturing companies are focusing on the expansion of their market share. Candle market is competitive in nature owing to the presence of many players. The major players in the candle market are adopting strategies such as mergers, acquisitions, and partnerships. For instance, in 2018, GALA Kerzen, a leading manufacturer of candles acquired Korona Candles S.A.
Millennials are majorly using candles in home decor. Candles are available in different shapes, sizes, and scents. The growing demand for home fragrance products drives the growth of the candle market. Consumers are also using candles as aromatherapy for relaxation and stress reduction. The rising demand for candles for decoration at the time of special occasions contributes to the growth of the candle market. Mosquito repellent candles do not produce any toxic fumes while burning. The demand for mosquito repellent candles is increasing which boosts the growth of the candle market. Social media is also stimulating the growth of the candle market. E-commerce is also propelling the growth of the candle market. The availability of candles with natural wax and the popularity of eco-friendly candles promotes the growth of the candle market. On the flip side, there are many substitute products for candles that hinder the growth of the candle market. Moreover, the new innovations occurring with candles create opportunities for the growth of the candle market.
North America is anticipated to be dominant in the candle market. The popularity of e-commerce in the United States contributed to the growth of the candle market in North America. Europe is also growing in the candle market owing to the rising use of candles for home decor and fragrance. Asia-Pacific region is expected to grow in the candle market. India and China are having a major share in the Asia-Pacific candle market. There is a high demand for candles in India at the time of festivals.
The report on the global candle market covers segments such as type, and raw material. On the basis of type, the sub-markets include tea lights, votive, pillars, birthday candles, cartridge candles, wax filled container candles, and other types. On the basis of raw material, the sub-markets include beeswax, stearin, paraffin wax, rapeseed wax, palm wax, soy wax, and other raw materials.
The report provides profiles of the companies in the market such as Baltic Candles Ltd., Delsbo Candle AB, AS Hansa Candle, GALA Kerzen, Ceras Roura, S.A., Candle Scandinavia Group AB, Contract Candles & Diffusers Ltd., Vollmar GmbH, Duni AB, Bolsius International BV, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the candle market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.