Enjoy complimentary customisation on priority with our Enterprise License!
The scented candles market is estimated to grow at a CAGR of 3.46% and the size of the market is forecast to increase by USD 758.83 million between 2022 and 2027. The growth of the market depends on several factors, including increasing investment in household interiors, a growing home decor market, and a diversified product portfolio of key vendors.
This report extensively covers market segmentation by distribution channel (offline and online), product (container-based, pillars, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
In 2017, in terms of market size, North America dominated the market with a share of USD 1,198.81 million. Additionally, US was the largest contributor of market share USD 1,021.09 million. The market segment offline recorded the largest contribution in market share of USD 2,809.88 million and continues to grow.
The reports categorize the global scented candles market as a part of the global household products market. The global household products market covers non-durable household products, including detergents, soaps, diapers, and other tissue and household paper products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing investment in household interiors is notably driving the market growth, although factors such as stiff competition from the unorganized sector may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Scented Candles Market Driver
The increasing investment in household interiors is notably driving market growth. Growing disposable income, rapid industrialization, increasing urbanization, rising employment, and a progressive rise in investments are some of the factors that are driving new residential construction activities. Moreover, sustained political support in the form of affordable loans and tax waiver schemes also plays a crucial role in boosting the demand for new houses. Consequently, investment in household interiors has also been increasing.
Scented candles play a pivotal role in increasing the aesthetic appeal of residential interior designs. In recent years, many countries have made sustained progress toward eco-friendly housing that offers minimum usage of energy. For instance, the Sierra Crest development in Fontana, California, has developed 20 residential buildings which use solar energy and aim to become the first "zero net energy consumption" community in California. This initiative may further promote the demand for eco-friendly home decor products, including scented candles.
Key Scented Candles Market Trend
The expansion of e-commerce market is a key trend in the market. The expansion of the e-commerce market and globalization and liberalization policies have simplified cross-border trade and led to the growing trend of B2B and B2C business. Advances in technology, coupled with increasing Internet penetration, have increased online purchases and sales of goods and services across the globe. The gradual shift in customer spending and shopping habits has amplified the growth potential of the e-commerce market.
The growth of information and communication technology, artificial intelligence, and other modern technologies has expanded the customer base, thereby creating lucrative growth prospects for key market vendors. Factors such as the advent of social media, increasing Internet penetration, and the growing adoption of smartphones have allowed reliable access to a wide range of products and have helped customers choose the best in-home decor, including scented candles.
Key Scented Candles Market Challenge
Stiff competition from the unorganized sector is the major challenge impeding market growth. The market is mainly composed of two segments, namely, the organized and unorganized sectors. The organized sector mainly comprises big retailers or manufacturers that have the necessary permits and follow strict rules and regulations; on the other hand, the unorganized sector includes small retailers or manufacturers that are not registered with the government. Thus, the global scented candles market is highly fragmented and unorganized.
Venturing into a candle-making business does not require immense capital or investment. This encourages small companies or small retailers to enter the business and leads to the proliferation of sub-standard or duplicate products. Major candle manufacturers face intense competition from local, unorganized players that offer non-standardized products at very low prices. This hampers the competitive scenario in the market as established candle manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volume.
Key Scented Candles Market Customer Landscape
The 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 growth strategies.
Global Scented Candles Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Newell Brands Inc. - The company offers scented candles such as apple cider candles and origins ocean candles as its key offerings. Under the home appliances segment, the company offers a range of kitchen appliances, gourmet cookware, bakeware, and cutlery. Under the outdoor and recreation segment, the company offers products for outdoor and outdoor-related activities. Additionally, the company offers commercial cleaning and maintenance solutions, and others.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Based on distribution channel, the market is segmented into offline and online. The market share growth of the offline segment will be significant during the forecast period. The offline distribution channel generates revenues from specialty stores, hypermarkets, supermarkets, convenience stores, and clubhouse stores, as well as department stores. Players are expanding their stores in the local and regional markets to fuel sales through offline channels. Scented candle manufacturers sell their products through specialty stores and other retailing formats, which intensifies market competition. Retailers are introducing new businesses, wider assortments, pricing, and retail strategies to remain competitive. Such initiatives will increase segment growth during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
Vendors are also resorting to the online-to-offline (O2O) business strategy to enhance sales from offline distribution channels and simultaneously promote a digital experience. This O2O channel provides various benefits to buyers, including in-store pickup of the goods purchased online, purchasing goods online while at the physical store, and returning products purchased online to the preferred physical stores. The adoption of these strategies will help vendors to increase their market shares and expand their consumer base.
For more insights on the market share of various regions Request PDF Sample now!
Europe is estimated to contribute 30% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors in North America. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America in the global scented candles market is expected to grow significantly during the forecast period. This is due to the increasing demand for fancy candles during festive seasons and holidays such as Easter and Christmas, an area that is expected to continue to lead during the forecast period. The continuous and steady rise in consumers' awareness regarding the ingredients used in scented candles has played a major role in driving the demand for scented candles. Additionally, many vendors operating in the market are clearly mentioning the ingredients used to produce scented candles. For instance, S.C. Johnson and Son Inc. (S.C. Johnson and Son), one of the major vendors operating in the market, disclose all the ingredients used in the production of its Glade scented candles. Such transparency and disclosure will have a positive impact on the market.
The market in North America was negatively affected in 2020 due to the outbreak of COVID-19 and the resultant lockdowns. However, in 2021, the initiation of vaccination campaigns led to the lifting of lockdown restrictions in the region. This has resulted in the resumption of operations in scented candle manufacturing plants and a surge in investments in the scented candle component manufacturing sector, which has increased the demand for scented candles in the region. Hence, the market in North America is expected to grow during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by distribution channel (offline and online), product (container-based, pillars, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Scented Candles Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.46% |
Market growth 2023-2027 |
USD 758.83 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.6 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 30% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archipelago, Bolsius International BV, Conscious Candle Co., Desirepath Mississippi, LLC, Diptyque Distribution LLC, GALA GROUP GMBH, Godrej Consumer Products Ltd., Lalique Group SA, MVP Group International Inc., NEST Fragrances, Paddywax LLC, Prolitec, Reckitt Benckiser Group PLC, ScentAir Technologies LLC, Seda France, The Bridgewater Candle Co., The Procter and Gamble Co., Welburn Candles Pvt. Ltd., Newell Brands Inc., and S.C. Johnson and Son Inc. |
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. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.