Candle Market

Candle Market

Candle Market- By Product, Wax and Distribution Channel.

Market Synopsis:

The Global Candle Market is valued at USD 6.37 Billion in the year 2022 and is projected to reach a value of USD 10.30 Billion by the year 2030. The Global Market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.20% over the forecast period.

The high consumption of Candle as an aesthetic-appealing product for household application among female millennials is expected to drive growth. Beauty retailers, independent brands, and fashion houses have been developing innovative products to attract new customers while retaining existing ones. Similarly, restaurants and fine dining establishments are increasingly utilizing the product to create a lovely and aromatic ambiance for their customers. Over the last few years, there has been an increase in demand for organic Candle made of natural wax. The preference for Candle that do not result in carbon blackening has a positive impact on demand. Millennials are also becoming more aware of the environmental effects of Candle burning, which is encouraging them to work toward reducing their carbon footprint.

Candle are commonly used during religious rituals, festivities, festivals, and get-togethers to create a lovely environment and a relaxing atmosphere. Candle s' commercial utility has increased in recent years, with the majority of spa and massage centers using scented Candle for a soothing effect. Candle are becoming more popular, particularly in massage facilities and other business establishments. Candle massage is a popular therapy among millennials at massage places. Back pain, headaches, anxiety, and osteoarthritis can all be relieved with these products.

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Market Segmentation:

The Candle Market is segmented on the basis of Product, Wax and Distribution Channel. On the basis of Product, the market is segmented into Votive, Container Candle, Pillars, Tapers and Others. On the basis of Wax, the market is segmented into Paraffin, Soy Wax, Beeswax, Palm Wax and Others. On the basis of Distribution Channel, the market is segmented into online and offline.

Based on Product

On the basis of product, the market is segmented into Votive, Container Candle, Pillars, Tapers and Others. Container Candle (also known as votive Candle s) are small Candle housed in a heat-resistant container. They are extremely simple to make and are widely used as decorative items, usually in the form of fragranced Candle s. They are made up of a heat-resistant container filled with wax and a central wick in their most basic form. The selection of the proper type of container is critical. Even if the Candle has been burning for a long time, the container must be safe. Heat-resistant materials such as metal tins, ceramics, and glass are ideal, though glass should be used with caution because it has a tendency to crack or shatter when heated.

Based on Wax

On the basis of wax, the market is segmented into Paraffin, Soy Wax, Beeswax, Palm Wax and Others. In the Global Candle Market, Paraffin had the largest market share. One of the most common types of wax used in the Candle making industry is paraffin wax. It is commercially available in solid slabs, pellets, and flake forms. When converted into liquid form, the wax turns transparent from its white appearance. There are three types of paraffin waxes: low, medium, and high melting points. Melting point is one of the most important factors to consider when formulating or making a Candle. Paraffin with a low melting point is used for container Candle in jars, cups, or glasses. Votives, pillars, and other moulded Candle are made from paraffin, which has a medium melting point. High-melting-point wax is used in more specialized applications such as hurricane Candle shells, over dipping, and other Candle -making techniques.

North America is expected to acquire the largest market share during the year 2021

North America is likely to be the fastest-growing regional market over the forecast period with a market share of 32.10%. Due to rising consumption of aromatic Candle and growing aromatherapy treatment in countries such as the United States and Canada, the North American market is likely to account for a significant revenue share in the global market. Furthermore, manufacturers have introduced mosquito repellent Candle to defend against mosquitoes, which are expected to assist the global market's growth. Meanwhile, the region is likely to maintain its leadership position in the near future, owing to increased product demand during holiday seasons such as Easter and Christmas. Another popular custom in the United States is giving Candle as gifts at festivals and special events.