DUBLIN, April 14, 2023 /PRNewswire/ -- The "Scented Candles Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028FSegmented By Product Type, By Category, By Distribution Channel, By Region, By Company" report has been added to  ResearchAndMarkets.com's offering.

The global scented candles market is expected to register an impressive CAGR during the forecast period.

Home renovation and home decorating projects have increased along with an increase in disposable money. Since the pandemic has caused individuals to spend more time at home, people have a growing desire to make their homes comfortable places to live. One of the consumer trends is sculpture-scented candles or candles with different shapes.

To increase their market shares, market participants provide unique scents that appeal to their customers. Many businesses have also raised their R&D expenditures to produce better products.

Scented candles are utilized in retail establishments to give clients a unique and enjoyable shopping experience. The scent of the candles can cover unpleasant smells, enhance the air quality, and improve the shop's ambiance. Scented candles can also be used as a marketing tool to advertise goods and services. For example, a retailer might promote its summer sales using a citrus-scented candle.

Online stores utilize scented candles to provide customers with a better shopping experience. Around 6.37 billion people (80.76% of the world's population) will be using smartphones in 2021, according to Bankmycell. With the help of online shopping, items can be purchased by customers when they are at home or at work. Through the internet, customers may shop more easily and conveniently. The transactions can also be canceled with ease. In addition, it saves time and effort.

Increasing Trend of Eco-Friendly Products Fuels Market Growth

People from all around the world are turning toward the use of eco-friendly candles due to growing environmental concerns. Additionally, there has been a significant increase in the use of candles for house decoration. These elements produce significant sales opportunities for businesses engaged in the global scented candle market.

Since organic candles are naturally free of toxins and are made with organic and natural materials, they have replaced mainly paraffin wax candles in recent years. These candles are also well-known as "green candles" since they are made from natural ingredients such as beeswax and soy wax. Both elements are natural, neither polluting the environment nor releasing poisonous gas when lit. Manufacturers of scented candles have outstanding growth potential worldwide due to a significant rise in consumer knowledge of the availability of their products.

Increasing Partnerships Among Companies Propels Market Growth

To create a unique candle with the ideal smell for ice cream enthusiasts, Moose Tracks Ice Cream announced its partnership with Wax Poetic Candle Bar, a Michigan-based candle production firm, in June 2021. The vanilla-scented candle seduces the buyer with hints of peanut butter cups at USD 24.95. Like the ice cream flavor, the candle has a vanilla smell with notes of peanut butter cups and the famous Moose Tracks fudge.

Product Launches Fuel the Market Growth

Companies are launching new products to attract consumers, which fuels the demand for the scented candles market worldwide.

For instance, "You, "-a scented candle, was released by Glossier in Nov 2022 for USD 36.22. The new item replaces the tiny "You" candle that was included in the Christmas package from the previous year. The new candles come in glass containers that are red and pink, the brand's emblematic colors, and are stamped with the initials "G." The top notes of the "You" candle will be the well-known ambrette seeds, ambrox, iris, and musk.

Additionally, in 2022, Newell Brands launched a new candle brand Friday Collective. Friday Collective is a new brand that has been introduced by Newell Brands, the company behind Yankee Candle and other home fragrance products. The new line of scented candles is meant to evoke optimism and excitement through their brilliant hues and novel scent pairings.

The scented candles offer bold, iridescent new candles that are divided into four groups that are organized by scent profile: Let's Party collection Lowkey Hype, Kickstart the Hustle, and Joy Of Missing Out. This scented candle has a premium soy wax blend, natural fiber wicks, and essential oils.

Report Scope:

In this report, the global scented candles market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

 Scented Candles Market, By Product Type:

• Container-Based
• Pillar-Based

Scented Candles Market, By Category:

 Scented Candles Market, By Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Exclusive Stores
• Online
• Others

 Scented Candles Market, By Region:

• North America
• The United States
• Canada
• Mexico
• Europe
• Russia
• France
• The United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Indonesia
• Vietnam
• Middle East & Africa
• Saudi Arabia
• Egypt
• UAE
• Turkey
• South America
• Brazil
• Argentina
• Colombia

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Voice of Customer Analysis (B2C Model Analysis)

5. Global Scented Candles Market Outlook

6. Asia-Pacific Scented Candles Market Outlook

7. North America Scented Candles Market Outlook

8. Europe Scented Candles Market Outlook

9. Middle East & Africa Scented Candles Market Outlook

10. South America Scented Candles Market Outlook

11. Market Dynamics
11.1. Drivers
11.1.1. Increasing Internet Penetration
11.1.2. Growing Partnerships Among Companies
11.1.3. New Product Launches
11.2. Challenges
11.2.1. Dynamic fragrance preferences
11.2.2. Skin issues in fragrance sensitive population

12. Impact of COVID-19 on Global Scented Candles Market

13. Market Trends & Developments
13.1. Increasing Demand for Non-Toxic Products
13.2. Rising Preference of Online Shopping
13.3. Increasing Trend of Trying New Fragrances

14. Import & Export Analysis

15. SWOT Analysis

16. Porter's Five Forces Model

17. Competitive Landscape

18. Strategic Recommendations/Action Plan

19. About Us & Disclaimer

A selection of companies mentioned in this report includes

• The Estee Lauder Companies Inc.
• MVP Group International, Inc.
• Bath & Body Works, Inc.
• Newell Brands, Inc.
• Diptyque Distribution LLC
• NEST Fragrances
• Desirepath Mississippi, LLC
• Candle Delirium, Inc.
• Seventh Avenue Apothecary
• Trapp Fragrances

For more information about this report visit https://www.researchandmarkets.com/r/1occ7a

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets