Candle Market by Raw Material, Product, Distribution, End-User

List of Tables

The Global Candle Market is forecasted to grow significantly, with a projected USD 9,032.23 million in 2023 at a CAGR of 6.29% and expected to reach a staggering USD 13,855.21 million by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Candle Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Candle Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Raw Material, market is studied across Beeswax, Palm Wax, Paraffin Wax, Rapeseed Wax, Soy Wax, and Stearin. The Paraffin Wax commanded largest market share of 28.50% in 2022, followed by Beeswax.

Based on Product, market is studied across Container Candle, Pillars, Tapers, and Votive. The Pillars commanded largest market share of 29.43% in 2022, followed by Container Candle.

Based on Distribution, market is studied across Offline and Online. The Offline commanded largest market share of 81.49% in 2022, followed by Online.

Based on End-User, market is studied across Commercial and Individual. The Commercial commanded largest market share of 76.57% in 2022, followed by Individual.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.35% in 2022, followed by Americas.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Candle Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Candle Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Candle Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Candle Market?

4. What is the competitive strategic window for opportunities in the Global Candle Market?

5. What are the technology trends and regulatory frameworks in the Global Candle Market?

6. What is the market share of the leading vendors in the Global Candle Market?

7. What modes and strategic moves are considered suitable for entering the Global Candle Market?

Product Code: MRR-433AB1DC2856

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Candle Market, by Raw Material, 2022 vs 2030
4.3. Candle Market, by Product, 2022 vs 2030
4.4. Candle Market, by Distribution, 2022 vs 2030
4.5. Candle Market, by End-User, 2022 vs 2030
4.6. Candle Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand for candles for decoration purposes and the rising popularity of DIY candle-making
  - 5.1.1.2. The growing popularity of candle massage as a popular therapy for relaxation purposes
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating prices of raw materials and concerns pertaining to exposure to harmful chemicals
- 5.1.3. Opportunities
  - 5.1.3.1. Rising popularity of environment-friendly and organic candles
  - 5.1.3.2. Introduction of innovative and scented candles on eCommerce platforms
- 5.1.4. Challenges
  - 5.1.4.1. Compliance issues in candle production and rising adoption of flameless candles
5.2. Market Trends
- 5.2.1. Potential production capabilities and well-established standards have enhanced the candle market scope in the American region.
- 5.2.2. Easy availability on eCommerce platform and emerging startups to elevate candle production in the APAC region
- 5.2.3. Development of innovative and premium candles and significant export in the EMEA region
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization
- 5.9.1. Pricing Analysis and Trends

6. Candle Market, by Raw Material

6.1. Introduction
6.2. Beeswax
6.3. Palm Wax
6.4. Paraffin Wax
6.5. Rapeseed Wax
6.6. Soy Wax
6.7. Stearin

7. Candle Market, by Product

7.1. Introduction
7.2. Container Candle
7.3. Pillars
7.4. Tapers
7.5. Votive

8. Candle Market, by Distribution

8.1. Introduction
8.2. Offline
8.3. Online

9. Candle Market, by End-User

9.1. Introduction
9.2. Commercial
9.3. Individual

10. Americas Candle Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Candle Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Candle Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
  - 13.3.1.1. Phoenix Flavors and Fragrances Completed the Acquisition of Innovative Fragrances
  - 13.3.1.2. Global Consumer Acquisition Corp. Acquired Two Candle Companies
- 13.3.2. Agreement, Collaboration, & Partnership
  - 13.3.2.1. Sydney Brands Maison Balzac and Nonna's Grocer Collaborated on a Truly Grape New Candle
  - 13.3.2.2. Trudon and Master Tseng Collaborated on Scented Candles
  - 13.3.2.3. Perfumer Lyn Harris Created Scented Candles Based on 17th-Century Paintings in Collaboration With Sotheby's
  - 13.3.2.4. Woodhouse Spa and APOTHEKE Collaborated to Launch Spa Candle Collection
  - 13.3.2.5. The WoodWick Candle Brand Announced Partnership with Reforestation Nonprofit, One Tree Planted
  - 13.3.2.6. Lamborghini partnered with Culti Milano to develop square-shaped scented candles
- 13.3.3. New Product Launch & Enhancement
  - 13.3.3.1. Tara Candle Launched Gulkand Ki Jalebi, a New Fragrance Inspired by Traditional Indian Sweet
  - 13.3.3.2. WoodWick Candles introduced consciously created candle line, ReNew Collection
  - 13.3.3.3. Tara Candles Launched New Collection of Candles in Celebration of Republic Day 2023
  - 13.3.3.4. Glossier launched a You scented candle
  - 13.3.3.5. Japanese D2C fragrance brand Shefar launched scented candle product line
- 13.3.4. Investment & Funding
  - 13.3.4.1. The Manipal Group's luxury brand EKAM raised an Angel roundabout INR 4.8 CR
- 13.3.5. Award, Recognition, & Expansion
  - 13.3.5.1. Mayfield Consumer Products expanded with a USD 33.3 million in total investment
  - 13.3.5.2. Lucky Penny Candles Announced First International Expansion

14. List of Company Mentioned

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing