Global Candle Market: Renub Research Unveils Comprehensive Study on Forecast 2024-2030, Industry Trends, and Company Analysis
18 Mar, 2024

Global Candle Market is anticipated to propel a CAGR of 6.19% between 2024 and 2030. Candles are cultural symbols with diverse roles beyond illumination. They are used in religious ceremonies, as decor, and for aromatherapy. Sustainable options are gaining popularity. Candles bring warmth and tranquility to households worldwide and weave threads of meaning into regular lifestyles.

The candle market is growing worldwide, with diverse options of natural soy waxes, essential oils, and eco-friendly alternatives. Social media advertising amplifies candles' aesthetic and mood-improving elements, influencing trends. The global candle market is projected to be valued at around US$ 15.15 Billion by 2030.

Global Candle Market Trend News

• Estee Lauder Companies (ELC) launched "Voice-Enabled Makeup Assistant," an AI-based Smartphone app, in January 2022. Its objectives are to help visually impaired individuals follow make-up more confidently and efficiently promoting self-expression.
• ELC received the Tom Ford logo in January 2023, so it will help maintain and increase the brand as one of the leading luxurious manufacturers.
• In July 2023, S.C. Johnson & Sons Inc. spent $21.85 million to expand its reach through the purchase of an industrial facility and 24 acres in Mount Pleasant.
• Diptyque unveiled the "Les Mondes de Diptyque" collection in September 2023, proposing five new scented candles.
• In April 2023, the Yankee Candle Company partnered with Vera Bradley to create a new restrained-edition collection of floral fragrances and scented candles.
• Curio Brands acquired Otherland, a candle maker, in August 2023.
• In 2023, Maison Balzac and Nonna's Grocer have joined hands to provide a limitededition candle crafted from uncommon Grand Cru grape types. The candle has a splendid aroma of pinot noir and chardonnay infused with hand-poured soy wax and is derived from protective amethyst stones. It is a perfect middle piece for any dinner desk.

In the global candle market, well-known brands include Newell Brands Inc., MVP Group International, Inc., Lalique Group SA, Bath & Body Works, Inc., Diptyque Paris, NEST New York, Village Candle, and Portmeirion Group PLC.

Report Details:

Palm wax is gaining prominence in the global candle market due to its eco-friendly and sustainable characteristics

Derived from palm oil, it is renewable and biodegradable, aligning with the increasing patron demand for environmentally conscious products. Palm wax offers a clean and gradual burn, enhancing the candle's toughness and perfume release. As sustainability becomes a priority for consumers, producers are turning to palm wax as a responsible opportunity, contributing to its developing recognition in the competitive candle market.

The economic category is flourishing in the international candle market as consumers seek inexpensive but quality alternatives

With monetary uncertainties, cost-aware buyers prioritize budget-friendly selections without compromising the environment. Manufacturers respond by producing affordable candles without sacrificing aesthetics or fragrance. This accessibility attracts a broader customer base, fostering market growth. The economic section's enlargement mirrors an international shift closer to value-driven purchases, making candles accessible and luxury for various demographics, driving demand for and propelling its rise in the competitive market.

Taper candles are experiencing growth in the global market due to their timeless beauty and versatility

A slim and tapered design adds sophistication to diverse activities, from formal occasions to everyday décor. Their recognition stems from a renewed appreciation for traditional aesthetics and the desire for visually appealing, Instagram-worthy spaces. Tapers provide an elegant and traditional appeal, catering to purchasers searching for a subtle atmosphere, thereby contributing to their growing demand in the competitive international candle market.

Online retail is surging in the international candle market because of its convenience and accessibility

Consumers increasingly prefer browsing, comparing, and purchasing candles from the comfort of their homes. E-commerce structures provide numerous picks, permitting clients to explore diverse scents, designs, and brands. Also, online reviews and suggestions foster informed decision-making. The global reach of online retail expands market access, making it a key driver in the candle industry's growth, meeting the evolving choices of contemporary, tech-savvy purchasers.

A combination of factors propels the ascent of China in the global candle market

China provides cost-effective manufacturing as a manufacturing powerhouse, contributing to competitive pricing and diverse product tiers. The country's robust delivery chain and technological advancements guarantee efficient production and worldwide distribution. Also, the growing middle class in China demonstrates an increasing affinity for lifestyle products, including candles, fueling domestic demand. With a focus on quality and innovation, Chinese manufacturers are meeting domestic needs and exporting notable candles internationally. China's dynamic market presence positions it as a significant player in the flourishing international candle enterprise.

Market Summary

• Wax Types - A Renub Research report on the Global Candle Market looks at wax types from five angles (Plam Wax, Soy Wax, Bees Wax, Paraffin, and Others).
• Category - A Renub Research report on the Global Candle Market examines the category from two angles (Economic and Luxury).
• Product - A Renub Research report on the Global Candle Market examines products from five angles (Votive, Container Candle, Pillars, Tapers, and Others).
• Distribution Channel - A Renub Research report on the Global Candle Market looks at distribution channels from five angles (Online Retail, Specialty Stores, Supermarkets and hypermarkets, Departmental Stores, and Institutional Sales).
• Countries - A Renub Research report on the Global Candle Market looks at countries from twenty-six angles (United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, and Rest World).
• Key Players - Every significant player in the Global Candle Market has been discussed from three perspectives (Overview, Recent Developments, and Revenue) Newell Brands Inc., MVP Group International, Inc., Lalique Group SA, Bath & Body Works, Inc., Diptyque Paris, NEST New York, Village Candle, and Portmeirion Group PLC.

About Us

Renub Research is a Market Research and Consulting Company. We have more than 14 years of experience especially in international Business-to-Business Researches, Surveys, and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. Our clients rely on our market analysis and data to make informed knowledgeable decisions. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Contact Us
Renub Research
Phone: +1-478-202-3244 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research