Candle Sales, Growth, Size

The Global Candle Market report integrates an analysis of the verifiable and present information to decide the general business valuation and other related factors. It looks at the crucial aspects of the company’s urgent aspects in more detail, such as development determinants, prospective open doors, and significant restrictions. This comprehensive information can be used to build efficient business-driven processes and accomplish your growth goals. The information gathered in this insight report came from reliable sources and was examined using tried-and-true research techniques. It focuses on aspects of the market that are always changing due to technological advancements and economic conditions.

The global “Candle” market is anticipated to grow at a CAGR of 7.79% from 2022 to 2031.

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Scent-infused candles can be used in both domestic and professional settings. The rise in home renovation and décor initiatives has fueled demand for scented candles in the residential sector. Because of their therapeutic benefits, companies like spas frequently employ scented candles. Market companies focus on offering distinctive scents that appeal to their customers to improve their market shares. To manufacture better products, several corporations have also raised their R&D spending.

COVID-19 Impact Analysis

The development of coronavirus illnesses during COVID-19, when most businesses were experiencing economic crises, hurt the candle industry. The government ordered a nationwide lockdown to stop and control the spread of coronavirus illnesses, but this severely disrupted the supply chain for raw materials and the production cycle. Government restrictions on hotels and events have caused a sharp decline in the candle market, which is frequently used to decorate hotels and special occasions like weddings. Even after hotel restraints were removed, the demand for candles has remained the same because people are still reluctant to visit hotels and restaurants out of concern that the coronavirus will spread. The event industry is still struggling because public gatherings are prohibited due to the Wuhan virus.

Market Growth and Restraints:-

Some of the factors propelling the growth of the scented candle market include rising eco-friendly candle consumption, rising home décor candle use, rising consumer awareness of these products, rising disposable income of people, and an increase in the number of spa and massage parlors.

The availability of a product substitute will, nonetheless, restrain the market expansion for scented candles during the forecasted period.

Global Candle Market Segmentation:

List Major Industry Players:-

Vollmar GmbH
Baltic Candles Ltd
Bolsius International BV
Delsbo Candle AB
Duni AB
Hansa Candle AS
KORONA Candles S.A.
Ceras Roura
Contract Candles Ltd
Candle Scandinavia Group AB

Market Applications and End-user:

Global Candle Market Segmentation:

Segmentation by type:

Tea Lights
Votive
Pillars
Birthday Candle
Cartridge Candle
Wax Filled Container Candles

Segmentation by raw material:

Beeswax
Stearin
Paraffin Wax
Rapeseed Wax
Palm Wax
Soy Wax

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Key reasons for purchasing this Candle market report:-

* A qualitative and quantitative market analysis based on segmentation considers economic and non-economic factors.

* The market value (USD Billion) data for each segment and sub-segment.

* A competitive landscape that includes the market share of the major players as well as new service/product launches, partnerships, business expansions, and acquisitions made by the companies profiled over the previous five years.

* Extensive company profiles that include company overviews, company insights, product benchmarking, and SWOT analyses for the major market players.

* The industry’s present and future market outlook, taking into account recent events, including growth prospects and drivers, as well as obstacles and restraints in developing and emerging regions.

* Comprises a thorough examination of the market from several angles using Porter’s Five Forces analysis

* Offers market knowledge across the Value Chain

* The current market dynamics scenario and future market expansion prospects

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