The global candle market size is projected to reach USD 6.06
billion by 2025, according to a new report published by Million Insights, with
a CAGR of 8.4% over the forecast duration. The increasing inclusion of candles
as home
décor items is predicted to drive the
market. Moreover, a significant increase in demand for candles for commercial
and residential purposes along with its inclusion for religious needs is
expected to provide a boost to the market. Hotels, beauty parlors, spa, and
restaurants uses this candles for a soothing effect.
Scented candles are highly
popular among the millennials in countries like Germany, France, and the U.S
thus resulting in high revenue share. These are beneficial for health including
nervous system stimulation, improved digestion, better concentration, and
migraine relief. For example, basil creates a positive mental state while
eucalyptus helps in the treatment of diseases like asthma, bronchitis,
sinusitis, pneumonia, rheumatism, arthritis, and cough.
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Yankee Candle Company
introduced a Sunday Brunch Candle collection, in April 2019. These are present
in jars with a brand name of Rainbow Shake and Easter Basket. The products
pertain to seven unique fragrances such as Vanilla, Grilled Peaches, Honey
Lavender Gelato, Belgian Waffles, Strawberry Bellini, Sweet Morning Rose, and
Blush Bouquet. Louis Vuitton, the French luxury retailer, and fashion house, in
2018, introduced a range of scented candles which included L’Air du Jardin,
Feuilles d’Or, Dehors Il Neige, and Île Blanche.
Further key findings from
the report suggest:
• Votives form held around
25% revenue share in the global candles market as of 2018
• Pillar candle is
projected to grow at a CAGR of 9.0% for the year 2019 to 2025.
• The online channel is
predicted to grow at a CAGR of 8.7% over the years.
• Paraffin products held a
30% market share on account of revenue as of 2018.
• The key players include
Better Homes and Garden, Bath & Body Works, Bridgewater Candles, Circle E
Candles, Colonial Candle, Diptyque, Malin + Goetz, Slatkin & Co., White
Barn Candles, Village Candles, Yankee Candles, Thymes, and Jo Malone.
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