Decorative Candles Retail Market 2024-2028
The decorative candles retail market size is forecast to increase by USD 2.47 billion, at a CAGR of 7.07% between 2023 and 2028.
North America is poised to dominate the global decorative candles retail market as the demand for these exquisite candles rises, especially during festive seasons like Easter and Christmas. The region, which has been a consistent leader, is witnessing a surge in sales driven by a preference for candles infused with natural essential oils. Over the last five years, the US has experienced a notable increase in retail candle sales, with a notable shift towards e-commerce channels. Increasing consumer awareness of ingredients, eco-friendly packaging, and container materials contributes significantly to the rising demand for decorative candles in the region. Colonial Candle presents a range of retail decorative candles, including Colonial Candle Classic Cylinders, Colonial Candle Tapers, and Manly Indulgence Candles. Hence, such factors are driving the market growth in the region.
Decorative Candles Retail Market: Overview
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Key Driver, Trend and Challenge
Our researchers analyzed the data with 2023 as the base year, along with the key trends, and challenges. A holistic analysis of market growth and trends, driver, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Decorative Candles Retail Market Drivers
One of the key factors driving the decorative candle retail market growth is the increasing popularity of wellness and relaxation activities. Decorative candles, including scented candles, are associated with relaxation and wellness. In addition, the increasing trend of wellness and relaxation activities positively impacts the demand for decorative candles. Moreover, in response to the changes in lifestyle work cultures, individuals are increasingly engaging in activities like aromatherapy, meditation, and others.
Therefore, such factors surge the demand for scented decorative candles. In addition, the innovations in aromatherapy diffusers, plug-ins, and customized candles have positively grabbed the attention of retailers and millennials among the consumer group. Hence, such factors are driving the market growth during the forecast period.
Decorative Candles Retail Market Trends
A key factor shaping the decorative candles retail market growth is the expansion of e-commerce market. The emergence of globalization and liberalization policies have simplified cross-border trade and resulted in the growing trend of B2B and B2C business. In addition, advances in technology coupled with increasing Internet penetration have fostered the rise in online purchases and the sales of goods and services all around the globe.
Moreover, the gradual shift in customer spending and shopping habits has amplified the growth potential of the e-commerce market. In addition, the growth of information and communication technology, Artificial Intelligence, and other modern technologies have expanded the customer base, thereby creating lucrative growth prospects for key market players. Hence, such factors are driving the market growth during the forecast period.
Decorative Candles Retail Market Challenge
The emission of toxic fumes from decorative candles is one of the key challenges hindering the decorative candles retail market growth. The emission of toxic fumes, particularly from candles made with certain materials including paraffin wax, can emit harmful chemicals when burned, immensely contributing to pollution. In addition, air pollution is regarded as a major threat to human health and life. Furthermore, exposure to harmful fuels and gases results in serious health hazards and sometimes could lead to cancer.
Moreover, manufacturers of candles mainly rely on paraffin wax as a major source of raw material to make candles. In addition, paraffin wax is made from crude oil, alkenes, and toluene and, therefore, is harmful to health when burnt. Furthermore, candles equipped with a lead-core wick release heavy metals like lead and can lead to serious health issues like hormone disruption, behavioral problems, learning disabilities, and others. Hence, such factors are hindering the market growth during the forecast period.
Decorative Candles Retail Market Segmentation by Type
The wide availability of the scented segment will increase the market growth. The increasing trend toward personal care and mental well-being and the availability of scented candles in various fragrances fuel the growth of the scented candle segment. In addition, with the emergence of wellness programs and the influence of social media, consumers are highly interested in mindful activities such as yoga, meditation, and others. Furthermore, scented candles are gaining tremendous popularity, especially in urban areas, in response to the growing desire of people for mindfulness and relaxation. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The increasing adoption of unscented segment will increase the market growth during the forecast period. The growing demand for candles in hotels, restaurants, events, festivals, and other occasions drives the growth of the unscented segment. In addition, the key manufacturers are highly investing in innovative products to offer improvised products such as eco-friendly candles. Moreover, the rise in the adoption of organic unscented candles that are made up of eco-friendly materials such as bee wax and soy wax boosts the growth of the unscented segment. In addition, the innovative packaging using reusable containers and eco-friendly materials used in the packing drive the demand for unscented candles. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Decorative Candles Retail Market Segmentation by Distribution Channel
The offline segment is estimated to witness significant growth during the forecast period. The offline segment mainly generates revenues from specialty stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores, as well as department stores. In addition, revenue generated from the offline distribution channel has been declining gradually over the past few years because of the increasing preference for online shopping.
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The offline segment was the largest segment and was valued at USD 4.18 billion in 2018. Moreover, players are expanding their stores in the local and regional markets to fuel sales through offline channels. In addition, scented candle manufacturers sell their products through specialty stores and other retailing formats, which intensifies market competition. Furthermore, retailers are introducing new businesses, wider assortments, pricing, and retail strategies to remain competitive. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The growing preference for the online segment will increase the market growth. There has been a significant transition in the shopping medium from the conventional brick-and-mortar model to the online model. In addition, the geographical reach and widespread presence of major retailers have allowed customers to access a wide range of products. Moreover, change in shopping preferences fuels the sale of scented candles through online distribution channels. In addition, most consumers buy products based on online research on websites, blogs, and social media. Furthermore, this growing demand for products through online channels is mostly led by wide penetration and the geographical reach of e-retailers such as Amazon.com Inc. (Amazon), Alibaba Group Holding Ltd. (Alibaba), and JD.com Inc. (JD.com). Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Key Regions for the Decorative Candles Retail Market
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North America is estimated to contribute 37% to the growth of the global market research and growth during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing preference of consumers to spend on aesthetic scented candles has encouraged major vendors to indulge in innovation and expand their product portfolio. In addition, the increasing demand for candles with natural essential oils has further triggered the market’s growth. Moreover, in the last five years, the US witnessed a major surge in the sales of candles through the offline mode. Furthermore, with increased Internet penetration, the purchase of candles through e-commerce channels has taken an upward swing.?Hence, such factors drive the growth of the regional decorative candle retail market during the forecast period.
Key Decorative Candles Retail Market Companies Overview
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, which are forecasts to enhance their presence in the market report.
- Key Offering - Amazon.com Inc: The company offers decorative candles retail such as fragrance jar candles, heart stick candles, glass jar candles
- Key Offering - Duni AB: The company offers decorative candles retail such as crown candles, tealights, pillar candles, switch and shines.
The Decorative Candles Retail Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
- Aldi Stores Ltd.
- Bolsius International BV
- Dollar General Corp.
- Flame and Wax Inc.
- GALA GROUP GMBH
- Harlem Candle Co.
- Industria de Diseno Textil SA
- JD and Kate Industries
- Kohls Corp.
- Newell Brands Inc.
- Ocado Retail Ltd.
- Overstock Inc.
- Temple and Webster Group Ltd.
- Tesco Plc
- Universal Candle Co. Ltd.
- Walmart Inc.
- Williams Sonoma Inc.
Decorative Candles Retail Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.v
Customer Landscape
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their decorative candle retail market growth and trends strategies.
Global Decorative Candles Retail Market Customer Landscape
Segment Overview
The decorative candles retail market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Distribution Channel Outlook
- Offline
- Online
- Type Outlook
- Scented
- Unscented
- Geography Outlook
- North America
- The U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- South America
- Chile
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- North America
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Decorative Candles Retail Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.07% |
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Market Growth 2024-2028 |
USD 2.47 billion |
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Market structure |
USD Fragmented |
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YoY growth 2023-2024(%) |
6.19 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aldi Stores Ltd., Amazon.com Inc., Bolsius International BV, Colonial Candle, Dollar General Corp., Duni AB, Flame and Wax Inc., GALA GROUP GMBH, Harlem Candle Co., Industria de Diseno Textil SA, JD and Kate Industries, Kohls Corp., Newell Brands Inc., Ocado Retail Ltd., Overstock Inc., Temple and Webster Group Ltd., Tesco Plc, Universal Candle Co. Ltd., Walmart Inc., and Williams Sonoma Inc. |
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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. |
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What are the Key Data Covered in this Decorative Candles Retail Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2023 and 2028
- Precise estimation of the decorative candles retail market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of decorative candles retail market companies
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