Market Scenario
Global Pumpkin Candles Market size in 2019 was valued at USD 220.7 Million and is expected to exhibit a CAGR of 6.1% from 2020 to 2026.
Pumpkin candles are a type of spicy scented candles that help in removing unpleasant odors from one’s surroundings. These types of candles are generally made from beeswax, paraffin wax, and soy wax.
The demand for pumpkin candles is increasing owing to the rising popularity of scented candles across the world. The popularity of scented candles is growing faster than the other candles. The increasing popularity of scented candles as a home care product has led to the growing popularity of pumpkin candles.
Another key factor behind the growth of the pumpkin candles market is the rising awareness in the application of such scented candles in aromatherapies and massages. Scientifically proven facts about the key role of scented candles in physiological effects of stress, mood, working capacity, and overall mental health has further helped in increasing awareness of pumpkin candles. Increasing disposable incomes, the growth of the organized retail sector, and strong online distribution channels, especially home furnishing sites, have further resulted in the growth of the market.
The outbreak of COVID-19 has resulted in a surge in demand for pumpkin candles, especially in the western regions. With lockdown restrictions across the globe and people restricting themselves at home to restrain the growth of COVID-19, demand for pumpkin candles has surged exponentially. Additionally, the seasonal demand for pumpkin candles due to Halloween celebrations in western countries is expected to last long due to travel restrictions and more time spending at home. After the post-COVID-19 outbreak, many companies are experiencing increased sales of scented candles, including pumpkin candles. Net-a-Porter, an international online retailer, has witnessed a triple-digit growth rate in sales (y-o-y) since March 2020.
Market Synopsis
Global Pumpkin Candles Market has witnessed exponential growth in the last couple of months. Owing to the outbreak of a global pandemic, COVID-19, the pandemic has created lucrative growth opportunities for pumpkin candle manufacturers across the globe. As people are staying more at home due to lockdown restrictions, more focus is given to home renovation. Additionally, amidst the COVID-19 outbreak, people across the globe perceive such scented candles for creating comfort and calmness in their homes.
Market USP
The rising popularity of scented candles across the globe
Market Drivers
- The increasing popularity of scented candles: Increasing popularity of scented candles owing to their various health benefits has resulted in the growth of the pumpkin candles market. Increasing application of pumpkin candles in aromatherapies has resulted in the growth of the market.
- The rising number of global pandemics such as COVID-19
- Increasing disposable income across the globe
- Growth of the organized retail sector in developing countries
- The advent of e-commerce home furnishing platforms
Market Restraints
- Availability of popular substitutes
- Counterfeit products
Segmentation
By Material Type
- Beeswax
- Paraffin Wax: Paraffin wax is the most common source of material used in pumpkin candles. However, paraffin wax creates highly toxic benzene and toluene when burned. Hence, the popularity of such material types is decreasing, and manufacturers are opting for more toxin-free materials.
- Soy Wax
- Others
By Category
- Mass
- Premium: The popularity of premium pumpkin candles is anticipated to remain high during the review period. Increasing disposable income has led to the growth in the purchasing power of such premium candles across the globe. Additionally, premium candles are ideally made from beeswax or soy wax that are non-toxic. Hence, the demand for pumpkin candles of such categories is anticipated to increase during the review period.
By Distribution Channel
- Store-Based: The store-based segment has been further divided into supermarkets & hypermarkets, specialty stores, and others. Supermarkets & hypermarkets dominate the store-based distribution channels. However, the online channels are anticipated to increase the sales of pumpkin candles in the next couple of years.
By Region
- North America: North America accounted for a substantial share of the global pumpkin candles in 2019, owing to the presence of some of the key manufacturers of pumpkin candles in the US. Within North America, the US dominated the pumpkin candles market, followed by Canada and Mexico. Strong seasonal demand for pumpkin candles due to the celebration of the Halloween festival also resulted in significant market growth.
- Europe
- Asia-Pacific: Asia-Pacific is anticipated to remain the fastest-growing market during the review period. The presence of some of the key manufacturers and worldwide exports of scented candles are key reasons behind the regional market growth. Increasing urbanization and disposable income, the rising number of the millennial population, and the increasing awareness of home care are further anticipated to boost the pumpkin candles market growth in the region.
- Rest of the World
Key Players
- The Yankee Candle Company (US)
- Williams-Sonoma Inc. (US)
- Holly's House (UK)
- Gibson & Dehn (US)
- Anthropologie’s Boulangerie (US)
- Williams-Sonoma Inc. (US)
- C. Johnson & Son, Inc. (US)
- Bath & Body Works, LLC (US)
- C. Johnson & Son, Inc (US)
- Our Own Candle Company (Australia)
