Candle Market by Product and Geography - Forecast and Analysis 2022-2026
- Published: Sep 2022
- Pages: 129
- SKU: IRTNTR71053
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The candle market share is expected to increase by USD 2.93 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.5%.
This candle market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the candle market segmentation by product (container-based, pillars, and others) and geography (North America, Europe, APAC, South America, and MEA). The candle market report also offers information on several market vendors, including Bolsius International BV, Diptyque SAS, Empire Candle Co. LLC, Nest New York, Reckitt Benckiser Group Plc, Stonewall Kitchen LLC, The Estee Lauder Co. Inc., The White Company, The Yankee Candle Co. Inc., and Thymes LLC among others.
What will the Candle Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Candle Market Size for the Forecast Period and Other Important Statistics
Candle Market: Key Drivers, Trends, and Challenges
The increasing adoption of candles for special occasions is notably driving the candle market growth, although factors such as the emissions of toxic fumes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the candle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Candle Market Driver
One of the key factors driving the candle market growth is the increasing adoption of candles for special occasions. Candles play an important role in festivities, religious events, social gatherings, and festivals. They create a lovely ambiance and have a calming impact on the mind. The growing demand for destination weddings and candlelight dinners across the globe is also fueling the demand for candles. Additionally, candles are being used more frequently in commercial settings. In recent years, the use of scented candles in spas and massage centers has increased manifold. Candle massages, as a therapy, are growing in popularity for relieving back pain, osteoarthritis, headaches, and anxiety. The increasing use of candles for such therapies in recent times is driving the growth of the market.
Key Candle Market Trend
The rising use of wooden wicks is the major trend influencing the candle market growth. The increasing use of wooden wicks is one of the positive trends in the global candle market. Wooden wicks are tiny strips or tubes of wood created especially for candlewick applications. They can be manufactured from a variety of wood and are available in various widths to best suit the candles that they are used in. Wooden wicks are not only eco-friendly and sustainable but also toxin-free and phthalate-free. When burning, wooden wick candles make a unique crackling sound and are often more relaxing and appealing in terms of the ambiance when compared with cotton wicks. Wooden wicks offer a wider dispersion of the fragrance when compared to cotton wicks. They burn slower, transfer heat more quickly to the wax, and disperse up to 35% more aroma across a room.
Key Candle Market Challenge
The emission of toxic fumes is one of the key challenges hindering the candle market's growth. Fragrance ingredients used in candles can cause allergic reactions. Phthalates in fragrances can lead to hormonal disruptions. For instance, compounds such as acetaldehyde, which is a commonly used ingredient for fragrance, can lead to an itchy red rash, sneezing, runny nose, burning sensation with no visible sores, and reddish skin. In addition, the use of synthetic musk is restricted by the European Union as it contains toxic chemicals that can negatively affect health. Such limitations and side effects of certain commonly used fragrance ingredients will impede the demand for and consumption of fragrance ingredients in the next five years. They will also negatively affect the growth of the global candle market during the forecast period.
This candle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2026.
Parent Market Analysis
Technavio categorizes the global candle market as a part of the global household products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the candle market during the forecast period.
Who are the Major Candle Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Bolsius International BV
- Diptyque SAS
- Empire Candle Co. LLC
- Nest New York
- Reckitt Benckiser Group Plc
- Stonewall Kitchen LLC
- The Estee Lauder Co. Inc.
- The White Company
- The Yankee Candle Co. Inc.
- Thymes LLC
This statistical study of the candle market encompasses successful business strategies deployed by the key vendors. The candle market is fragmented, and the vendors are adopting organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Bolsius International BV - The company offers candles under the brand name Accents.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The candle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Candle Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the candle market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated other innovative approaches being followed by vendors to ensure a sustainable market presence.
Which are the Key Regions for Candle Market?
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28% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for candles in North America. Market growth in this region will be faster than the growth of the market in South America regions.
Increasing demand for fancy candles during festive seasons and holidays such as Easter and Christmas will facilitate the candle market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The market in North America was negatively affected in 2020 due to the outbreak of COVID-19 and the resultant lockdowns. Vendors operating in the region had to minimize their staff in manufacturing facilities to sustain production capabilities. Also, lockdown measures led to the shutdown of shops, which hampered the demand for household products. Additionally, the closure of some retail outlets hampered sales in the candle market in the region in 2020. However, the large-scale vaccination measures led to a decline in the number of COVID-19 cases, and the easing of lockdown protocols marked the recovery phase in the region in 2021, which will positively impact various offline retailers during the forecast period.
What are the Revenue-generating Product Segments in the Candle Market?
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The candle market share growth in the container-based segment will be significant during the forecast period. Candles sold in containers such as jars and tins are container-based candles. Because of their self-contained nature, container candles are safer to burn, and the containers can withstand the flame's heat. Such candles are also more stable than tapers and less prone to topple over, which is beneficial in gatherings or outdoor celebrations. These factors will help container-based candles maintain their dominance in the market during the forecast period
Besides the above-mentioned factors, the post-COVID-19 impact has brought forth a slowdown in or fast-tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the candle market size and actionable market insights on the post-COVID-19 impact on each segment.
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Candle Market Scope |
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|
Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.5% |
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Market growth 2021-2025 |
$2.93 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.4 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 28% |
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Key consumer countries |
US, China, Germany, UK, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Bolsius International BV, Diptyque SAS, Empire Candle Co. LLC, Nest New York, Reckitt Benckiser Group Plc, Stonewall Kitchen LLC, The Estee Lauder Co. Inc., The White Company, The Yankee Candle Co. Inc., and Thymes LLC |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Candle Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive candle market growth during the next five years
- Precise estimation of the candle market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the candle industry across North America, Europe, APAC, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of candle market vendors
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product Type
- 5.1 Market segments
- Exhibit 24: Chart on Product Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product Type - Market share 2021-2026 (%)
- 5.2 Comparison by Product Type
- Exhibit 26: Chart on Comparison by Product Type
- Exhibit 27: Data Table on Comparison by Product Type
- 5.3 Container based - Market size and forecast 2021-2026
- Exhibit 28: Chart on Container based - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Container based - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Container based - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Container based - Year-over-year growth 2021-2026 (%)
- 5.4 Pillars - Market size and forecast 2021-2026
- Exhibit 32: Chart on Pillars - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Pillars - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Pillars - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Pillars - Year-over-year growth 2021-2026 (%)
- 5.5 Others - Market size and forecast 2021-2026
- Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Product Type
- Exhibit 40: Market opportunity by Product Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 Canada - Market size and forecast 2021-2026
- Exhibit 82: Chart on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Bolsius International BV
- Exhibit 93: Bolsius International BV - Overview
- Exhibit 94: Bolsius International BV - Product / Service
- Exhibit 95: Bolsius International BV - Key offerings
- 10.4 Diptyque SAS
- Exhibit 96: Diptyque SAS - Overview
- Exhibit 97: Diptyque SAS - Product / Service
- Exhibit 98: Diptyque SAS - Key offerings
- 10.5 Empire Candle Co. LLC
- Exhibit 99: Empire Candle Co. LLC - Overview
- Exhibit 100: Empire Candle Co. LLC - Product / Service
- Exhibit 101: Empire Candle Co. LLC - Key offerings
- 10.6 NEST New York
- Exhibit 102: NEST New York - Overview
- Exhibit 103: NEST New York - Product / Service
- Exhibit 104: NEST New York - Key offerings
- 10.7 Newell Brands Inc.
- Exhibit 105: Newell Brands Inc. - Overview
- Exhibit 106: Newell Brands Inc. - Business segments
- Exhibit 107: Newell Brands Inc. - Key news
- Exhibit 108: Newell Brands Inc. - Key offerings
- Exhibit 109: Newell Brands Inc. - Segment focus
- 10.8 Reckitt Benckiser Group PLC
- Exhibit 110: Reckitt Benckiser Group PLC - Overview
- Exhibit 111: Reckitt Benckiser Group PLC - Business segments
- Exhibit 112: Reckitt Benckiser Group PLC - Key offerings
- Exhibit 113: Reckitt Benckiser Group PLC - Segment focus
- 10.9 The Estee Lauder Companies
- Exhibit 114: The Estee Lauder Companies - Overview
- Exhibit 115: The Estee Lauder Companies - Business segments
- Exhibit 116: The Estee Lauder Companies - Key offerings
- Exhibit 117: The Estee Lauder Companies - Segment focus
- 10.10 The White Company
- Exhibit 118: The White Company - Overview
- Exhibit 119: The White Company - Product / Service
- Exhibit 120: The White Company - Key offerings
- 10.11 Thymes LLC
- Exhibit 121: Thymes LLC - Overview
- Exhibit 122: Thymes LLC - Product / Service
- Exhibit 123: Thymes LLC - Key offerings
- 10.12 Village Candle SA
- Exhibit 124: Village Candle SA - Overview
- Exhibit 125: Village Candle SA - Product / Service
- Exhibit 126: Village Candle SA - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 127: Inclusions checklist
- Exhibit 128: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 129: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 130: Research methodology
- Exhibit 131: Validation techniques employed for market sizing
- Exhibit 132: Information sources
- 11.5 List of abbreviations
- Exhibit 133: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- US
- Canada
- China
- Germany
- UK
- Increasing adoption of candles for special occasions
- Rising use of wooden wicks
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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