Wiseguyreports.Com Adds “Candles – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2025” To Its Research Database.
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Increasing Demand for Aromatherapy to Elevate Scope for Global Candles Market
Market Overview:
An ignitable wick embedded in wax or other flammable solid component, a candle provides light and also fragrance sometimes. A candle also provides heat and can be used as a method of keeping time. While initially, candles were used as a functional product only, it is now used as a symbol of celebration. Candle manufacturers across the globe are innovating candles and offering aromatic candles for the living room and bedroom. They are available in several shapes, sizes, shades, and designs, including votive, tea lights, pillars, cartridge candles, birthday candles, wax filled container candles, and others. They are generally manufactured from stearin, beeswax, rapeseed wax, paraffin wax, soy wax, palm wax, and others.
The demand for candles is massive across the globe, with consumers increasingly purchasing candles for aromatherapy like relaxation and stress reduction and home decor. The easy availability of several types of candles on multiple distribution channels is elevating the scope for the market across the globe. Penetration in the distribution channels has further benefitted the sales through home decor, department stores, and mass merchandise retailers. The recent boom in the e-commerce sector has propelled the market growth to a large extent. The availability of reviews and information and ease of purchase of products online will increase the sales of the product across the globe.
Service providers like restaurants, hotels, and spa and beauty parlors use candles to create a cozy, warm, and relaxing ambiance. This further will create new growth opportunities for the market. On the contrary, fluctuating prices of raw materials is considered one of the major concerns likely to impede the market growth in the required timeframe.
The global Candles market was valued at 7830 million US$ in 2018 and will reach 11100 million US$ by the end of 2025, growing at a CAGR of 4.5% during 2019-2025.
The following manufacturers are covered:
Korona Candles S.A
Yankee Candle Company, Inc
Vila Hermanos Cerería Sa
Suomen Kerta Oy
Balthasar + Co. Ag
Cereria Pernici Srl
Delsbo Candles Ab
Gies Kerzen Gmbh
Gala-Kerzen Gmbh
Bolsius International Bv
Sc Johnson & Son, Inc
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Segmental Analysis:
By type, the candles market is segmented into floating candles, pillar candles, tapers, votive candles, tea light candles, filled candles, specialty candles, gel candles, liquid candles, and others. Of these, the vovite, tea lights, and filled candles are predicted to gain prominence. Surging use of these candles during events, special occasions, and festivals will augment the demand.
The application segment comprises department or home decor stores, specialty or gift shops, direct sales, mass merchandise retailers, internet, and others. Of these, the internet segment is gaining high popularity, mainly due to the advent of the e-commerce sector across the globe. The ease of purchase has boosted its demand.
Regional Insights:
Geographically, the market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, North America accounts for a significant share in the global market. The growth can be ascribed to the surging use of scented candles in home decor, aromatherapy, relaxation, and stress reduction. The U.S. is likely to retain its dominance in the region. Meanwhile, Canada is estimated to exhibit the highest growth rate in the region.
Meanwhile, Europe is predicted to witness a significant growth in the foreseeable future. In this region, both import and consumption of scented candles have been increasing owing to the surging popularity of scented candles as a decorative accessory over functional purposes.
Industry Updates:
Poundland has recently launched an entirely new collection of cocktail inspired scented candles. These candles come in three scents, namely Prosecco Fizz, Rhubarb & Ginger, and Bellini Surprise.
Continued…..
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Source: MarketersMedia
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