The latest market report published by Credence Research, Inc. “Candles Market By Type (Pillar Candles, Floating Candles, Votive Candles, Tapers, Filled Candles, Tealight Candles, Gel Candles, Specialty Candles, Liquid Candles), By Distribution Channels (Specialty Or Gift Shops, Department Or Home Decor Stores, Mass Merchandise Retailers, Direct Sales, Internet), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) — Growth, Future Prospects And Competitive Analysis 2015–2025” the global candles market was valued at US$ 7,567.50 Mn in 2016, and is expected to each US$ 11,707.76 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
Browse the full Candles Market report at Candles Market Size, Share, Trend, Growth And Forecast To 2025
Consumers are increasingly purchasing candles for their home decor, and for aromatherapy-like stress reduction and relaxation. The ease of purchase as well as the availability of various type of candles on multiple distribution channels is prompting more and more people to purchase these products. Proliferation in the number of distribution channels has benefited the sales through department, mass merchandise retailers and home decor stores. Supermarkets and hypermarkets are benefiting due to their discounted prices and various offers particularly attracting more and more buyers. The popularity of e-commerce has significantly increased candles sales. The ease of purchase as well as the availability of extensive information and reviews on products online is prompting more and more individuals to buy these products.
Volatility in the prices of raw materials is the major factor hampering the market growth. Paraffin is still the most widely used base material for candle production. Meanwhile in 2014 and 2015, almost 33% of paraffin production in some countries was shut down; forcing candle manufacturers to import large volumes of base material at higher prices. Increasing usage of candles in various applications provide immense opportunities to the manufacturers present in this market.
The market is highly fragmented owing to presence of numerous players. The barriers to entry in the candle industry are low. The small candle makers are rising up and taking their piece of the pie. Many customers are opting to purchase candles from the smaller hand crafted market owing to the uniqueness, quality, and the ability to customize their orders.
Rising demand from emerging economies
The market is projected to benefit from growing demand for candles from various applications
Availibity of the product in various shapes, colors, types and retail formats
- Pillar Candles
- Floating Candles
- Votive Candles
- Filled Candles
- Tealight Candles
- Gel Candles
- Specialty Candles
- Liquid Candles
By Distribution Channel
- Specialty or Gift Shops
- Department or Home Decor Stores
- Mass Merchandise Retailers
- Direct sales
- Others (Unorganized sales)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
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