Description
A candle refers to an ignitable wick which is used to provide light. It is made of wax and has an ignitable thread within which is lighted to illuminate a room or space. In the past, candles were generally used as a source of light and were only a functional product. However, in recent years, candles are a symbol of celebration and are used during certain rituals and ceremonies to illuminate the event.
Candles that are manufactured in the present days are generally scented to enable users to relax and soothe their senses. On the other hand, manufacturers are also innovating new types of candles which can be used to fill living room spaces or bedroom spaces with a fragrant aroma and create a soothing mood for the consumer. Candles can be manufactured using different types of waxes such as rapeseed wax, paraffin wax, beeswax, stearin, soy wax, and palm wax, among others. Among these, the paraffin wax is widely used for manufacturing candles. On the other hand, candles made from organic wax serve as a better alternative to paraffin wax candles. The latest report on the global candles market has suggested a lucrative growth trajectory during the forecast period.
Some of the key factors that are driving the global candle market, as mentioned in the report include a rise in the usage of candles for special occasions like wedding ceremonies, birthdays, as well as festivals. Moreover, upscaling usage of candles by therapists to create a peaceful ambiance in therapy sessions is noted to supplement market growth. With the emergence of e-commerce, the global candle market is expected to witness new growth opportunities over the review period. Manufacturers and suppliers across the globe are observed to capitalize on these opportunities and cater to a wider range of customers with a diverse product portfolio.
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Global Candle market competition by top manufacturers and top players including :- Gies Kerzen, Gold Canyon Candles, Virginia Candle, Colonial Candle, White Barn Candles, Circle E Candles, Slatkin & Co, Bridgewater Candles, Village Candles, GALA-Candles, Korona S.A.
Market Segmentation
The global candle market is segmented on the basis of product, end-users, and region. On the basis of product, the global candle market is segmented into votive candles, container candles, pillar candles, and dipped candles.
On the basis of the end users/applications, this report focuses on the market segmentation home decoration, religion activities, birthday celebration, and therapy.
Detailed Regional Analysis
The global candles market has been studied for the regions of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Europe held the foremost share of the global candles market at the beginning of the forecast period. The region is also estimated to retain its position through the forecast period. Across this region, the use of candles is mostly done for prayers and decoration.
North America is likely to witness sizeable growth owing to rising demand for the same in the US. Higher disposable incomes and increasing modernization across the region are primary factors driving the market. Asia Pacific, on the other hand, is assessed to witness the fastest rate during the forecast period.
Industry Update
Sept 2019: PoundLand recently launched a new flavor of scented candles. These scents are cocktail inspired and come in three different scents namely Rhubarb & Ginger, Prosecco Fizz, and Bellini Surprise.
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