USD 2.97 billion
Report ID: SQSG30K2001 | Region: Global | Published Date: April, 2023 | Pages: 242 | Tables: 93 | Figures: 76
Global Scented Candles Market size was valued at USD 2.97 billion in 2021 and is poised to grow from USD 3.16 billion in 2022 to USD 5.52 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
Foul odours can be removed from an area with scented candles. In order to achieve a meditative state of mind, scented candles help to create a soothing environment. Some of the most popular scented candles include blueberry, chocolate, caramel, roses, lavender, vanilla, lemon, cherries, cedar, and balsam. The scented candles market is being propelled in large part by rising consumer knowledge of the product's use in various candle massages and aromatherapies. In the forecast period of 2022 to 2028, factors such as increased consumer awareness of these goods, rising disposable income of people, rising number of spa and massage parlours, and rising consumption of environmentally friendly candles will all contribute to the market growth for scented candles. Whereas, the quickly expanding home decor market and rising investment in interior design will further create a number of new chances that will fuel the expansion of the scented candle market during the time covered by the forecast. Due to its aromatic and calming qualities, scented candles have found use in the household market as well as hospitality business outlets including spas, restaurants, and hotels. Additionally, many customers attest to the therapeutic benefits of scented candles as well. In recent years, the market has consistently grown due to a number of encouraging factors.
US Scented Candles Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.97 billion
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Scented Candles Market is segmented based on Product Type, Distribution Channel, Raw Material and Region. Based on Product Type Scented Candles Market is segmented into Containers, Pillars, Tumbler, Vase, Others. Based on Distribution Channel Scented Candles Market is bifurcated into Online, Offline. Based on Raw Material Scented Candles Market is segmented into Wax, Liquid Dyes, Soy, Glass, Others. Based on region Scented Candles Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Scented Candles Market Analysis by Product Type
In 2021, the container-based category, which had the biggest revenue share of more than 55%, dominated the scented candles market. Customers profit most from having access to such a wide variety of scent alternatives and from being able to tailor the smell to their tastes.
Since they may be used for home décor and in restaurants, scented container-based candles are fairly common. These fragrant candles are fantastic for parties since they can create the appropriate ambiance and mood. Millennials prefer calming scents in an effort to keep a positive attitude and create a relaxed environment. Many customers were drawn to the potential of candle customisation and customization giving premium fragrances. As a result, the segment based on containers is anticipated to generate the largest sales. The widespread use of container-based scented candles to meet home-decor needs comes next. Millennials favour calming scents because they help maintain a positive attitude and foster a peaceful environment. Custom-made scented candles in containers are widely available from manufacturers.
Custom-made scented candles in containers are widely available from manufacturers. They have long been a well-liked option for candles. These candles are essentially non-flammable jars with wax and a wick inside. They have a lower melting point, which makes it easier for smells to properly fill the space. Container-based scented candles with 100% natural fibre wicks and a burn time of up to 110 hours. They are constructed of premium-grade paraffin wax and have a calming fragrance.
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In 2021, North America held a commanding 35 % sales share in the global scented candles market. Although the market for HDHT products, such as scented candles, was affected in the early stages of the epidemic, it increased as customers started to prioritise their own health and wellness and delight in little extras.
In the retail industry, subscription-based business models are becoming more significant. It is one of the most popular business models where businesses offer things through subscriptions, making it simpler for customers to receive the product without the inconvenience of buying it occasionally. Players in the scented candle market are currently gradually moving toward subscription-based models and giving auto-shipping alternatives where the scented candles are supplied on a weekly, monthly, or annual basis. Over the ensuing years, this is anticipated to increase sales in the United States.
Due to the rising use of smartphones and the growing internet penetration in India and the rest of Asia Pacific, it is predicted that sales of consumer goods through e-Commerce will experience considerable growth over the projection period.
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To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our scented candles market reports, some of the leading quality scented candles manufacturers are as follows: MVP Group International, Inc. (US), Newell Brands (US), Estee Lauder Companies (US), NEST New York (US), Thymes, LLC (US), L Brands (US), Portmeiron Group Plc (UK), The Yankee Candle Co. Inc. (US), The White Barn Candle Co. (US), The Village Candle (US), Bridgewater Candles (US).
Scented Candles Market Top Players Company Profiles
Scented Candles Market Recent Developments
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According to our analysis, by product type, the containers segment held largest portion of the global revenue share. Region-wise, the North America had dominated the market by more than 35%. Due to widespread use in the home design industry in both residential and commercial settings, the demand for scented candles has been increasing dramatically. Additionally, as more people throughout the world participate in the festivities, there is an enormous increase in demand for scented candles. The development of new perfumes and smells by manufacturers in the global scented candle market is helping to increase demand for these candles worldwide. Scented candles are anticipated to experience a remarkable increase as customer preference for visual diversification develops.
|Market size value in 2021||USD 2.97 billion|
|Market size value in 2030||USD 3.16 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Scented Candles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Scented Candles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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