Candles Market 2019–2023 : Global Growth Drivers, Opportunities, Trends, and Forecasts
WiseGuyReports.Com Publish a New Market Research Report On –“ Candles Market 2019–2023 : Global Growth Drivers, Opportunities, Trends, and Forecasts”.
PUNE, INDIA, October 1, 2019 /EINPresswire.com/ --
Description:-
Over time, candles have changed from being a mere source of providing light to the places where the electric bulb had no reach. Now, these are being widely used for aesthetic purposes inside buildings, for healing treatments at aromatherapy centres, stress reduction, and more. This ignitable wick has transformed into a thing of great importance by the addition of various scents that emanate as the wax melts. The wax used to make candles come from various sources including vegetables, animals, paraffin, etc.
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Key Players
The Yankee Candle Company, Inc. (US), Candle-lite (US), Armadilla Wax Works, Inc. (US), Colonial Candle (US), and Bath & Body Works Direct, Inc. (US), Dianne’s Custom Candles, LLC (US), Dandong Everlight Candle Industry Co., Ltd (China), ZHONG Nam Industrial (International) Co., Ltd (Hong Kong), Empire Candle Co., LLC (US), BeCandle (Hong Kong), SC Johnson & Son, Inc. (US), among others, are some of the major players in the global candles market.
Although wax made from beehives called beeswax was the first-ever material used in candle-making, paraffin is predominantly used to make candles these days. The demand for candles as a home décor product is anticipated to increase in the coming years. The demand for scented candles is already high due to its healing properties. This is considered as a major growth driver in the candle market. Candles are still being used in some parts as a good source of light and one-fourth of its flame contributes to the warmth of the environment.
A study on the Global Candles Market was done with a forecast of its performance until 2023. Both developed and developing economies displayed a significant demand for the scent-emanating variations of these sticks of wax.
Market Segmentation
From the data extracted through the key players in the industry such as The Yankee Candle Company, Inc. (US), Candle-lite (US), Armadilla Wax Works, Inc. (US), Colonial Candle (US), and Bath & Body Works Direct, Inc. (US), Dianne’s Custom Candles, LLC (US), and Dandong Everlight Candle Industry Co., Ltd (China), the market segmentation of Global Candles Market Research Report is done based on the type of material used, category, distribution channel, and regional demand. The category-based segmentation is made on economical and luxury candles. The segmentation for distribution channel of global candles market is divided into store-based and non-store-based channels. The material type segmentation of global candles market included vegetable wax, paraffin wax, synthetic wax, and animal wax.
Regional Analysis
Major countries from Europe, North America, Asia-Pacific, Middle East, Latin America, and Africa were considered for the study. North America registered the largest consumption contributing a total share of 36.94% of the total market followed by Europe at 32.71%. Aromatherapy, stress reduction, aesthetic purposes, home décor, and functional use were found to be responsible for the growth in the candles market in these regions. Poland is the largest supplier of candles from Europe, and China and Vietnam contribute to the largest production in the Asia-Pacific region.
Industry News
The global candles market is estimated to reach a CAGR of 4.26% and reach US$ 13,006.9 million by the year 2023. The paraffin wax segment in the global candles market is expected to reach the top in production and consumer demand by generating a revenue of USD 6,094.8 million by the end of 2023. The vegetable wax segment is projected to display the highest CAGR of 4.63% during the forecast period.
Celebrity model Kim Kardashian is all set to get into the candle business and will launch a candle inspired by her favorite scent under the KKW Fragrance line.
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Table Of Contents – Major key Points
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Candles Market, by Material Type
Continued….
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