The latest report by IMARC Group, titled ‘Candle Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,' offers a comprehensive analysis of the  candle market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The global candle market size reached US$ 9.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.24% during 2024-2032.

A candle is a solid block of wax with an embedded wick that is used for illumination, heat, or as a ceremonial object. The wax, often composed of paraffin, beeswax, or soy, acts as a fuel source for the candle flame. When lit, the wick burns and melts the surrounding wax, which is then drawn up the wick by capillary action and vaporized by the heat of the flame. This vaporized wax combusts in the candle flame, producing light and heat. Modern candles have evolved significantly in both composition and function, ranging from simple, unscented varieties used for emergency lighting to scented versions designed to enhance ambiance or provide aromatherapy. Candles remain popular in religious and ceremonial practices, symbolizing themes of enlightenment, celebration, and remembrance across various cultures and faiths. Additionally, the candle-making industry has expanded to include a variety of sizes, shapes, and colors, making it a significant segment of the home decor market.             

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Market Trends:

The increasing consumer interest in home decor and ambience creation is driving the global market. The rise of wellness and self-care trends also plays a crucial role, with consumers increasingly turning to scented candles for relaxation and stress relief, thus propelling the demand for aromatherapy and scented variants. Another significant factor is the influence of social media and digital marketing, which have made it easier for candle manufacturers to reach a broader audience. Platforms, including Instagram and Pinterest, act as ideal showcases for unique candle designs, which has increased interest in artisanal and custom candles. The growing consumer preference for handmade and eco-friendly products supports this trend. As environmental awareness increases, there is a notable shift towards candles made from natural waxes, such as soy or beeswax, which are perceived as healthier and more sustainable than traditional paraffin-based options. The expansion of the consumer base, including increased purchasing power among millennials and Generation Z, who favor experiential products, also contributes to market growth. Additionally, advancements in manufacturing technology have enabled producers to offer a wider variety of shapes, scents, and colors at lower costs, enhancing product appeal and affordability.    

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Bath & Body Works Direct Inc.
• Bridgewater Candle Company
• Circle E Candles Inc.
• Contract Candles & Diffusers Ltd.
• Diptyque
• Empire Candle Co. LLC
• Malin +Goetz Inc.
• Mvp Group International Inc.
• C. Johnson & Son Inc.
• Stonewall Kitchen
• The Estee Lauder Companies Inc.
• The White Company
• The Yankee Candle Company (Newell Brands)
• Thymes LLC

Candle Market Segmentation:

Our report has categorized the market based on region, product, wax type, and distribution channel.

Breakup by Product:

• Votive
• Container candle
• Pillars
• Tapers
• Others

Breakup by Wax Type:

• Paraffin
• Soy wax
• Beeswax
• Palm wax
• Others

Breakup by Distribution Channel:

• B2B
• B2C

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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