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Global Candle Market to Grow at a CAGR of 8.0% During the Period 2022-2027, Driven by Demand for Scented Candles

According to a new report by EMR titled, ‘Global Candle Market Report and Forecast 2022-2027’, the global candle market is expected to grow at a CAGR of 8.0% during the period 2022-2027, led by demand for sustainable candle solutions.

The global candle market is expected to be driven by customers’ demand for scented candles, sustainable candle solutions, and candles used during celebrations and the holiday season; candles are also a widely exchanged gift item. Key projected markets are North America and Europe.

Candles offer ambience and play a vital role in the personal wellness segment. Environmentally-friendly elements, packaging and appealing designs add value to offerings.  A good candle is characterized by a bright and smooth flame, no dripping, minimum wax residue, and no carbon blackening. While majority of candles are manufactured of paraffin wax, other materials used include beeswax, soy and other plant waxes. Gel candles are made of a mixture of mineral oil and a polymer.

Buyers assume much importance to candle fragrance, and the fragrance of a candle significantly influences a buyer’s purchase decision. Many people perceive the soft light and fragrance of a candle as capable of reducing stress and elevating the mood. These abilities of fragrances and scents to connect at the emotional level are expected to help the market grow.

Design candles hold significance in interior decoration; fancy candles come in creative shapes and decorations. Well-designed containers (ceramic, glass or metal jars and tins) add value to the product (which is generally scented) especially in the high-end market.

Candles today are no more just a functional necessity. Indeed, candles have come to be as sought-after decorative gifts and accessories. Fancy candles have attained high levels of sophistication in terms of embellishment and surface techniques (for example embossing, bas relief effects, accessorising), texture and colour. Candles conveying cultural values and stories are becoming popular.

Urban consumers are increasingly seeking to experience the touch of nature, both inside as well as outside the house. This closeness to nature gives a sense of health and calm. To attain such a feeling, consumers are emphasizing the use of natural ingredients. Thus, manufacturers are using materials and shapes that closely resemble those seen in nature (biomimicry). Consequently, the garden is now seen as an extension of the house, and people spend time, effort and money on gardens to make the area look like an extended part of the living room. This practice has significantly boosted candle sales. With more focus on sustainable elements, beeswax candles have gained a prominent place in the product group.

Market Analysis by Product Type, Raw Material, Distribution Channel and Region:

  • By product type, the market is segmented into Pillars, Tea Lights, Votive, Cartridge Candle, Birthday Candle, Wax Filled Container Candles, and Others.
  • By raw material, the market is classified into Stearin, Beeswax, Palm Wax, Soy Wax, Paraffin Wax, Rapeseed Wax, and Others.
  • By distribution channel, the market is divided into Online and Offline.
  • By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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