Market Research Report
Global Scented Candles Market - 2022-2029
|Global Scented Candles Market - 2022-2029|
Published: May 7, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global scented candles market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
A scented candle contains a blend of natural and synthetic scents. Plants, essential oils, and aromatic synthetic chemicals can all contribute to the scent or aroma of a scented candle. Essential oils come from a variety of places, including blooms and plants.. Scented candles play an important role in these restorative approaches by creating a relaxing ambiance that aids in achieving a reflective perspective. The growing awareness of the product's use in various candle massages and aromatherapies is propelling the scented candle industry. Increased consumption of eco-friendly candles, more use of candles for home decor, increased consumer awareness of these products, rising disposable income, and increased number of spa and massage parlors contribute to the scented candle market rise.
Improving standards of living across the globe have been a key driver for the scented candles market
As disposable income has increased, there has been an upsurge in house renovation and home decoration activities. Since the epidemic has resulted in extended periods spent at home, many people desire to make their homes a comfortable place to live. Consumers are adopting some of the popular 2020 trends, such as sculpture-scented candles and organically formed candles. Scented candles are suitable for both commercial and domestic use. The demand for scented candles in the residential sector has been fueled by home renovation and home decor activities. Commercial enterprises, such as spas, typically employ scented candles because of their medicinal effects. To expand market share, industry participants focus on creating new smells that resonate with their clients.
Several businesses have also raised their R&D spending to develop better products. Twisted candles were a hot fashion trend in 2020. These colorful, practical, decorative, and adaptable candles may be sculpted into any shape. These candles were designed by Dutch designer Lex Pott, who is best known for designing Hay's popular Pillar candles. The designer's twisted candle gained traction in late 2019 and erupted on social media in early 2020. Consumer interest in sculptural candles was growing before the pandemic, according to Areaware, but it exploded once everyone was forced to spend more time at home due to the lockdown.
Container based segment is the dominating segment in the global scentless candle market
In 2021, the container-based sector dominated the scented candle market, accounting for more than XX percent of total revenue. Customers benefit the most from the wide variety of fragrance selections available to them and the flexibility to customize the smell to their tastes. Since they are utilized in restaurants and home decor, scented container-based candles have become fairly popular. These fragrant candles are fantastic for parties since they can create the appropriate mood and ambiance. Millennials choose soothing scents to create a relaxed environment and retain a positive attitude. Scent candles in customizable containers are available from a variety of vendors. For years, they've been a popular candle option. These candles are non-flammable canisters with wax and a wick within. They have a lower melting point, making it easier for the smells to fill the space. Container-based scented candles have a calming fragrance that lasts up to 110 hours and are manufactured of premium-grade paraffin wax with 100 percent natural fiber wicks.
Over the projected period, the market for scented candles is expected to grow at a CAGR of more than XX percent in the hypermarkets and supermarkets category. In 2020, according to The NPD Group, which tracks sales in department shops and specialty cosmetic stores, scent sales decreased by 17% from January to September. Additionally, sales of house scents climbed by 13%, while sales of home smell gift sets, such as a candle and lotion set, increased by 22% during the same period. Retailers and cosmetics companies, for example, are increasingly interested in less typical fragrance categories. Candle sales at Selfridges had climbed by 54 percent since March 2020, according to The Times, while candle sales at Diptyque had increased by 100.0 percent since March 2019.
North-America is expected to be the dominating region during the forecast period
North America dominated the scented candle market in 2021, accounting for more than XX percent of total revenue. Although demand for HDHT products, such as scented candles, was low during the early stages of the pandemic, it increased as people decided to prioritize their health and well-being over little indulgences. The average household spending on home services in the United States in 2020 was USD 13,138, up from USD 9,081 in 2019, according to the 2020 HomeAdvisor study, driven in part by an increase in the number of home renovation projects.
To grow their geographical presence, broaden their product ranges, and develop consumer bases, key market players are focusing on opening flagship shops in various regions. For example, NEST New York, the brand's first retail venture, launched its flagship shop in New York in February 2019. The store sells 215 items from the brand's three product lines: home fragrance, fine fragrance, and body care. It also sells limited-edition and one-of-a-kind items. Lalique announced six new fragrances to their Noir Premier range in July 2020. Plume Blanche, a new perfume and candle smell with jasmine, almond-tree leaves, and white musks, is also included in the collection.
Negative impact on the global scented candles market
In both the household and commercial divisions, the COVID-19 outbreak and consequent economic crisis will have an impact on the scented candles business. Because scented candles are essentially luxury items, those with lower disposable budgets may be hesitant to purchase them. The slump in the hospitality business, which accounts for the majority of scented candle sales in the commercial market, is expected to last for several years. Because of these circumstances, scented candle manufacturers will have to compete on price.
Understand the current market scenario and viability of global scented candles market over the forecast period
Visualize the composition of the global scented candles market in terms of raw material, product outlook and distribution channel to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global scented candles market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global scented candles market report would provide an access to approximately 65 market data tables, 55 figures and 180 pages
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