The latest report on “Candle Market (Type – Tea Lights, Votive, Pillars, Birthday Candles, Cartridge Candles, Wax Filled Container Candles, and Other Types; Raw Material – Beeswax, Stearin, Paraffin Wax, Rapeseed Wax, Palm Wax, Soy Wax, and Other Raw Materials): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global candle market is projected to grow at a CAGR of 6.2% over the forecast period of 2019-2025.
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Demand for Mosquito Repellent Candles is Increasing Which Boosts the Growth of the Candle Market
Nowadays candles are used as a part of home decor. The candle manufacturing companies are focusing on the expansion of their market share. Candle market is competitive in nature owing to the presence of many players. The major players in the candle market are adopting strategies such as mergers, acquisitions, and partnerships. For instance, in 2018, GALA Kerzen, a leading manufacturer of candles acquired Korona Candles S.A.
Millennials are majorly using candles in home decor. Candles are available in different shapes, sizes, and scents. The growing demand for home fragrance products drives the growth of the candle market. Consumers are also using candles as aromatherapy for relaxation and stress reduction. The rising demand for candles for decoration at the time of special occasions contributes to the growth of the candle market. Mosquito repellent candles do not produce any toxic fumes while burning.
The demand for mosquito repellent candles is increasing which boosts the growth of the candle market. Social media is also stimulating the growth of the candle market. E-commerce is also propelling the growth of the candle market. The availability of candles with natural wax and the popularity of eco-friendly candles promotes the growth of the candle market. On the flip side, there are many substitute products for candles that hinder the growth of the candle market. Moreover, the new innovations occurring with candles create opportunities for the growth of the candle market.
North America is Anticipated to be Dominant in the Candle Market
North America is anticipated to be dominant in the candle market. The popularity of e-commerce in the United States contributed to the growth of the candle market in North America. Europe is also growing in the candle market owing to the rising use of candles for home decor and fragrance. Asia-Pacific region is expected to grow in the candle market. India and China are having a major share in the Asia-Pacific candle market. There is a high demand for candles in India at the time of festivals.
The report on the global candle market covers segments such as type, and raw material. On the basis of type, the sub-markets include tea lights, votive, pillars, birthday candles, cartridge candles, wax filled container candles, and other types. On the basis of raw material, the sub-markets include beeswax, stearin, paraffin wax, rapeseed wax, palm wax, soy wax, and other raw materials.
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The report provides profiles of the companies in the market such as Baltic Candles Ltd., Delsbo Candle AB, AS Hansa Candle, GALA Kerzen, CerasRoura, S.A., Candle Scandinavia Group AB, Contract Candles & Diffusers Ltd., Vollmar GmbH, Duni AB, Bolsius International BV, and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the candle.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.