The latest market report published by Credence Research, Inc., “Global Scented Candles Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Scented Candles Market generated revenue of around USD 535.9 million in 2021 and is anticipated to grow a CAGR of over 3.1% during the forecast period from 2022 to 2028 to reach around USD 643.62 million in 2028.
Scented candles are commonly used to create a pleasant ambiance in homes and public places such as hotels, restaurants, cafes, and others. Scented candles come in various fragrances and oils, including maple butter, cinnamon, and vanilla. Customers primarily consider price, color, and shape when purchasing a candle. Growing consumer demand for scented candles that are eco-friendly and made from natural ingredients like lavender, grapefruit, lemon, and others is anticipated to fuel market expansion. In addition, the increasing use of scented candles for body massages in homes and spa clinics, combined with the growing number of spa clinics, is expected to drive market growth. The scented candle industry is being propelled by the rising awareness of the product’s use in diverse candle massages and aromatherapies. Rising home décor trends also contribute to the increase in demand for decorative, scented candle boxes. However, the widespread availability of low-cost alternative products like scented sticks, the emerging trend of electric aroma diffusers, and others are expected to limit the market growth.
The global scented candles market is bifurcated into Product, Distribution Channel, and Geography. Based on product, the market is categorized into container-based, pillar, and others. Based on the distribution channel, the global market is segmented into supermarkets & hypermarkets, convenience stores, and online. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Europe dominated the global scented candles market in 2021 and is anticipated to have the major revenue share throughout the forecast period. Rising disposable income, rising interest in aromatherapy, and rising demand from retail establishments are some of the key drivers of this market’s expansion in this region. Moreover, many vendors in the regional market mention the ingredients used to make scented candles. The European market will benefit from such transparency and disclosure. In addition, the region’s demand for the product will increase as trend decoration materials are increasingly used in residential spaces.
Scented candles have become a popular item in today’s market, with consumers utilizing them for various purposes such as aromatherapy and home decor. The scented candles market opportunities are vast, ranging from individual sales to wholesale distribution for businesses. With the rise of e-commerce, there is an opportunity for vendors to reach customers globally by selling their products online through platforms like Amazon or Etsy. Additionally, there is potential for partnerships with hotels or spas to provide their guests with luxurious scents during their stay. Furthermore, private label manufacturing offers an avenue for entrepreneurs to create their own brand of scented candles and build a successful business around it. There are also opportunities within the corporate world as companies can utilize custom branded candles as promotional items or gifts for clients and employees alike.
Scented candles market dynamics have been fluctuating over the years due to various factors that affect consumer behavior. The demand for scented candles has risen significantly with increasing awareness about their therapeutic properties and aesthetic appeal. However, competition in the market is fierce as more players enter the industry, making it challenging for existing brands to retain their market share. Additionally, fluctuations in raw material prices and changing regulations regarding emissions from burning candles impact production costs and profit margins. Despite these challenges, manufacturers are introducing innovative fragrances and designs to attract consumers’ attention while keeping costs low through efficient supply chain management techniques. Furthermore, e-commerce platforms have emerged as a crucial distribution channel for vendors who can offer a wide range of products at competitive prices without any physical store presence or overhead expenses.
Scented candles have been around for centuries, and their popularity has only grown in recent years. The scented candles market dynamics show that this industry is constantly evolving to meet the needs of its consumers. One major factor driving the growth of this market is the increasing interest in self-care and mental health awareness. Consumers are looking for ways to enhance their relaxation and create a calming atmosphere at home, making scented candles an attractive option. In addition, advancements in technology have allowed manufacturers to incorporate unique fragrances into their products, further fueling demand among consumers seeking novelty and variety in their candle choices.
The scented candles market is analyzed based on various regions across the globe, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Here is a brief overview of the regional analysis of the scented candles market:
- The North American region is one of the significant markets for scented candles, with the United States being the dominant market. The growth of the market can be attributed to the increasing demand for luxury and premium scented candles in the region.
- Europe is another significant market for scented candles, with the United Kingdom, France, and Germany being the leading markets in the region. The demand for scented candles in Europe is driven by the increasing demand for aromatherapy and home decor products.
- The Asia Pacific region is an emerging market for scented candles, with China, Japan, and India being the dominant markets in the region. The growth of the market in the region can be attributed to the increasing popularity of aromatherapy and the growing demand for luxury scented candles among consumers.
- The Latin American region is an emerging market for scented candles, with Brazil being the dominant market in the region. The growth of the market in Latin America is driven by the increasing demand for premium and luxury scented candles among consumers.
Middle East and Africa:
- The Middle East and Africa region is a developing market for scented candles, with South Africa being the dominant market in the region. The growth of the market in the region is driven by the increasing demand for aromatherapy and luxury scented candles among consumers.
Overall, the scented candles market is expected to grow significantly in the forecast period, with the increasing popularity of aromatherapy and the growing demand for luxury and premium scented candles among consumers. The Asia Pacific region is expected to witness significant growth, with the increasing demand for luxury scented candles and the growing popularity of aromatherapy in the region.
Why to Buy This Report-
- The report examines the global scented candles market by segment, drivers, restraints, opportunities, latest developments, insights, challenges, and market dynamics from 2016 to 2020, with 2021 serving as the base year and 2022-2028 as the forecast period.
- The report outlines the market’s competitive landscape and the strategies the major players employ on a local, regional, and global scale.
- In-depth global scented candles market segmentation analysis by product and distribution channel.
- The report provides comprehensive and reliable information on all aspects, such as CAGR, consumer spending patterns, supply and demand, and import/export statistics for the major regional nations.
- The market report for scented candles includes industry analysis at the global, regional, and national levels and information on important market trends, competitive landscapes, and expansion plans.
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