Global Scented Candles Market 2017-2021
Overview of the global scented candles market
According to the Technavio’s analyst, the global scented candles market is anticipated to grow at a steady rate and will post a CAGR of close to 6% during the forecast period. Product novelty and packaging innovations will drive the growth prospects for the global scented candles market until the end of 2021. One of the major contributing factors responsible for the growing demand for scented candles on a global level is its application in stress-related therapies such as massages that can soothe the mind. Also, these vendors are increasingly taking efforts to differentiate their products from others by emphasizing more on the packaging that will further boost the demand for scented candles across the globe. Moreover, vendors are also coming up with organic scented candles that help remove the negative perception of the products such as their side effects. For instance, Apple’s accessory company, Twelve South launched a new scented candle made of 100% soy wax that smells like a freshly unboxed Mac.
The increasing popularity of DIY method and sourcing of ingredients such as candle scents and fragrance oils for scented candles will drive the growth prospects for the global scented candles market during the forecasted period. As a result, end-users can now plant fragrances or blend their composition of oils for making their own products.
Competitive landscape and key vendors
The global scented candles market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors increasingly compete against each other based on factors such as price, flavors, quality, innovation, features, service, reputation, distribution, and promotions. Vendors are also compelled to distinguish their product and service offerings through a clear and unique value proposition due to market opportunity challenges arising from intense competition and rapid advancements in design and manufacturing technologies.
Key vendors in this market are -
- California Exotic Novelties
- Reckitt Benckiser
Other prominent vendors in the market include Gellite Gel Candles, Himalayan Trading Post, Bath & Body Works, TATINE, CoScentrix, diptyque, Lee Naturals, Magnolia Scents by Design, Mels Candles, Net-a-Porter, Northern Lights Candles, Paddywax, Southern Made Candles, Soy Works Candle Company, Stand Around Creations, The Gel Candle Company, and The Yankee Candle Company.
Segmentation by distribution channel and analysis of the scented candles market
- Retail outlets
- Online outlets
The retail outlet's segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the market segment’s growth is the growing preference of consumers to see and buy the products directly from the shop and the growing number of retail outlets in developing and emerging countries such as China and India.
Segmentation by geography and analysis of the scented candles market
In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors contributing to the increasing sales volume of scented candles throughout the region are the growing number of spas, stress-related cases, injury recovery and rehabilitation, pampering and indulgence, and pain management.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global scented candles market?
- What are the key market trends impacting the growth of the global scented candles market?
- What are the challenges to market growth?
- Who are the key vendors in the global scented candles market?
- What are the market opportunities and threats faced by the vendors in the global scented candles market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global scented candles market?
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