Scented candles market size is expected to grow at a 5.80% CAGR and to reach USD 4.22 Billion during the forecast 2020-2027.
Scented Candles Market Overview
Scented Candles Market will acquire a CAGR of 5.80 % and a valuation of USD 4.22 Billion in the forecast period by 2027.
Scented Candles are available in the markets in different shapes, sizes, and designs, along with different fragrances. A different range of scented candles is manufactured with attractive packaging. Therefore, the pleasant fragrance and packaging style accelerate the Scented Candles Market.
The rise in demand for organic scented candles is chiefly propelling. These are preferred due to their advantages, like carbon blackening effects. Also, the natural candles show a positive impact on the environment. Therefore, the awareness of the usage of these candles is aiding the scented candles market. Scented candles are noticing massive popularity. The restaurants, cafes, and hostels are major drivers as there are the market end-users. The demand from these end-users is letting the market towards higher sales rates.
The growing rate of celebrations in events and festivals is another crucial market driver. The scented candles can revive the mood and comfort. These features are enhancing the market’s growth in the forecast period. Religious ceremonies also tend to use these candles. The developments of these candles to continue in the future days too.
During the covid 19, plenty of Scented Candles market have been facing severe losses. Especially, the candles market is facing few difficulties in the pandemic. The demand for these scented candles has reduced during this period. The scented candles are available through online and physical shops. However, due to the lockdown, the shops and sites selling these candles have been closed. The candle delivery and purchase rate have reduced during this period. As per the candle market research, it can have a declining effect on the overall market.
Crucial market drivers
The demand for organic and scented world market scented candles is high in the past few years. Natural candles are more preferred as they do not have carbon blackening effects. Also, in recent times it is known that the burning of natural candles has a good effect on the environment. All this awareness is causing is surging demand for the scented candles market. The natural market square scented witnessing massive popularity. Moreover, the dining of people in restaurants has increased. Many individuals prefer candlelight dinners. The restaurant offering this sit experience purchase more scented candles. The demand from restaurants is another crucial driver for this market.
Further, the prevalence of festivals and events are another reason for the growth of the scented candles market. The scented candles can relax the mood and comfort. Due to these crucial drivers, the market will experience immense growth in the forecast period. Religious ceremonies and get together are important occasions that require the use of scented candles. These crucial drivers are beneficial for the market expansion in the forecast period.
Scented Candles Market growth opportunities
The spice market scented is experiencing plenty of development in the upcoming years. The scented candles are the most impressive products in the market. In the upcoming years, the launch of waterproof scented candles will offer plenty of growth opportunities. These candles can float at the same time release exceptional aromas.
The launch of these products will cause immense demand and market expansion opportunities. The new product variation will be demanded by the restaurants and other end users. Also, innovation in the candles market will spike the growth rate. There are several possibilities innovations in this industry. The innovation in the fragrance, size, texture and smell of the candles will offer excellent growth prospects.
The market restraints
The scented candles are considered luxury products. They are pricey than the regular candles. The price is the crucial restraint in the market. Only individuals who prefer luxury candles will demand the scented candles. The price can affect the overall price and the demand of the market in the forecast period. The cost factor compresses the popularity of the scented candles than the regular candles. Also, due to lack of product awareness the consumers choose cheap quality scented candles. These poor quality scented candles are not environmentally friendly and they use synthetic fragrance.
The market challenges
The synthetic fragrance candle market is a significant challenge in the forecast period. The synthetic fragrances are not the same as the natural scented candles. These candles release harmful toxins into the environment. Some candles also release black carbon emissions. Most buyers are not aware of the difference between natural and synthetic candles. The lack of awareness between these products is another challenge in this market. Due to these factors, the demand for the scented candles market will subsequently reduce in the forecast period. These two challenges are the major factors that can restrict market growth.
Cumulative growth analysis
The scented candles are booming in recent years. The cumulative growth analysis shows that the market will witness stable growth in the forecast period. The crucial drivers of the market will continue to fuel the demand. The increasing awareness about the carbon-reducing scented cancelled is a crucial driver. It is one of the factors that are responsible for the exceptional growth rate.
Also, the prevalence of the celebrations, events and religious events will further enhance the market growth. There are plenty of growth opportunities that offer development prospects. The launch of innovative scented candles attracts more demand for the market. All these factors maintain a positive growth trend in the scented candles market.
Value chain analysis
North America is the largest share holder of the scented candles market. The growth rate in North America alone will reach more than 3%. More than the regular candles the demand for scented candles is high in North America. Not only for special occasions but for ordinary candle necessities this region uses the scented candles. The number of users using the scented candles is massive in this region. Also, the scented candles are mostly used in residents and for massage therapies. All these factors propel the growth of the scented candles market in 2027.
Scented Candles Market Segment Overview
By scented candle product type
By market category
By user type
Scented Candles Market Regional Analysis
The scented candle market is fragmented into Asia Pacific, North America and Europe. North America will dominate the rest of the markets in the forecast period. The adoption rate of the scented candles is high in North America. Also, there are plenty of brands and key players that offer exceptional products. The brand awareness of the scented candles is one of the crucial drivers in this market.
The next largest market in scented candles is Europe. Europe holds the highest yankee candle market share. The candles are used in tourism, restaurant and other tourist spots. Also, it is a region that uses the scented candles for aromatherapy. Aromatherapy is a booming market in Europe. The high demand for aromatherapy ultimately increases the demand for the scented candles market. Moreover, aroma massage is a popular practice in Europe. The demand from these sectors fuels the growth and profitability of the scented candles market. The Asia Pacific is another crucial region for the scented candles. The demand for the scented candles is high due to religious occasions and festivals. During celebrations, the scented candles provide an exceptional aroma to the occasion. The Asia Pacific scented candles market in India is growing rapidly. During the forecast period, the region will witness a high growth rate.
The scented candle market has moderate competition. The key players of the market are making new market expansion and product development measures in the forecast period. The market expansions and acquisitions are some of the development measures in the forecast period. In 2027, the key players of the market are also making new partnerships deals with other industries.
The key players of the scented candles market are
In March 2022
Door County Candle Company sold yellow and blue colour and vanilla-scented candles and sent around 100 % profits to Ukraine. The company has sold over 4,500 candles.
After one week of the initial report, it sold 19,761 candles to be topped 20,000. It has made annual sales of over 15,000 candles in an entire year.
In January 2022
According to an announcement, Campbell’s has partnered with Camp family experience company on two limited-edition scented candles.
The Tomato Soup and Grilled Cheese and Chicken Noodle Soup candles are the collaborated feature of the Winter Warmup Guide of activities like recipes, arts and crafts, and games parents can play with their children.
|Market Size||USD 4.22 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Category, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Candle-lite, Reckitt Benckiser Group plc, Zhong Nam Industrial, The Procter & Gamble Company, Empire Candle Co., LLC, L Brands, Inc., BeCandle, Newell Brands, C. Johnson & Son, Inc, Conscious Candle Company, The Yankee Candle Company, Bolsius International BV, Welburn Candles Pvt Ltd, Colonial Candle, Brandt Kaarsen|
|Key Market Opportunities||
|Key Market Drivers||
Scented candles market is projected to grow at approximately 5.80% CAGR during the assessment period (2020-2027).
Scented candles market is estimated to reach a valuation of approx. USD 4.22 Billion by the end of 2027.
Reckitt Benckiser Group plc (UK), L Brands, Inc. (US), Welburn Candles Pvt Ltd (India), The Procter & Gamble Company (US), Bolsius International BV (Netherlands), Conscious Candle Company (Australia), Brandt Kaarsen (US), Newell Brands (US), Candle-lite (US), Colonial Candle (US), Empire Candle Co., LLC (US), The Yankee Candle Company (US), BeCandle (Hong Kong), S.C. Johnson & Son, Inc. (US), and Zhong Nam Industrial (International) Co., Ltd. (Hong Kong), are some of the top players in the global scented candles market.
North America holds the largest share in the global scented candles market, followed by Europe and the Asia Pacific, respectively.
Rising use of their use as a home care product and Increasing per capita disposable incomes, are major tailwinds pushing the growth of the global scented candles market.