Market Overview (2024-2032):

The Global Candle Market size was valued at USD 15.9Billion in 2024 and is expected to grow USD 23.9Billion in 2032 at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2032.

The global Candle Market has grown exponentially over the last few years mainly because of the high consumption of candles by female millennial as an aesthetically pleasing item to be used in their homes. Candles are being adopted in home decor to improve the ambiance. As per the wellness trend, the market growth will spur with increased sales of the scented candles, although COVID-19 still restrains the expansion of the market.

The candle industry consists of four main segments including the supply of raw materials, manufacturing, distribution and sales. Depending on the business models, candle manufacturers could sell their products to retailers such as department stores, home accessories stores and/or their appointed buying agents which source the candle products for retailers. Manufacturers also export their candle products via distributors/wholesalers to the foreign retailers, while some market players may have their own retail sales network such as physical and online stores.

For example, candle therapy is extremely popular since it helps to cure anxiety, headaches, osteoarthritis, and back pain. High-end fine dining restaurants and food places have also made frequent use of expensive candles for the sake of great ambiance and fragrances while dining. Candles are also highly applicable at festivals, parties, religious gatherings, and celebrations. NCA reports 35.1% of candle sales are done during the Christmas and holiday season. Outdoor theme-based celebrations including wedding and parties, boost the booming market for outdoor candles. The organic segment of candles made with natural wax is another growing segment of the market for candles.

This factor positively affects the demand for candles-that which do not produce carbon blackening. Moreover, the awareness of how the burning of candles contributes to the degradation of the environment has made millennial make efforts in reducing their carbon footprint. Some ingredients of synthetic candles, such as lead wicks, artificial fragrance, and polluted oil, which poison indoor air and cause respiratory problems and other illnesses. This study conducted by the U.S. Environmental Protection Agency indicates that VOCs usage in excess than the need for candles triggers health conditions ranging from minor problems such as headaches, skin rashes, dizziness, fatigue and nausea to more serious conditions like running nose, cancer, and organ damage.

Key Findings:

• In November 2022, AnyMind Group, facilitating end-to-end commerce, revealed Shefar, a Japanese DTC fragrance brand, launched a line of scented candles featuring two variants.
• In April 2022, Kringle Candle unveiled its latest addition, the Cannabis-scented candle, as part of its Reserve Line, marking a departure from conventional scents. By tapping into contemporary trends, Kringle Candle aims to captivate consumers seeking unique olfactory experiences, fostering brand innovation and differentiation within the competitive candle market landscape

Market Drivers

• Increasing Consumer Demand for Home Fragrances

The research revealed that a new sense has been found home fragrances to be used to better the environment in the house, and it is the reason why scented candles can be on the increase. These candles offer a beautiful fragrance, a soothing ambiance, and an appeal that drives comfort and well-being. Lighting up any space is changed by a candle, hence fresh scents are filled, and feelings of comfort and peace are enhanced.

Due to the rising demand for variety and premium products, designers and manufacturers from other industries are entering into the home fragrance product market, such as cosmetic manufacturer Rituals. An increasing number of manufacturers with various industry background will provide customers with more diversified home fragrance products options, which will contribute to the growth of the market

Home fragrance with innovative scent types has grown in popularity in EU market. Consumers prefer the brands with a broad selection of scent types, and therefore home fragrance products manufacturers and brands are expected to invest increasingly in the R&D of diverse scent types to satisfy market demand.

Key Findings:

• The candle segment holds a leading market share owing to the significant demand for candles in traditional and spiritual practices in many countries globally. Similarly, the popularity of scented candles as a home fragrance is expected to boost this segment's consumption further.
• The usage of candlelight as part of the tradition in Germany and the U.K. is expected to escalate the demand for candles and home fragrances in the region.

Market Opportunities

• Expansion of Eco-Friendly and Sustainable Products

Consumers are paying increasing attention to the healthy and environmental influence of products and prefer green products. Unlike artificial compound essential oils, essential oils based on extraction from natural plants is healthier and bring better user experience to customers. It is expected that home fragrance products with essential oil based on natural extraction instead of artificial components will become more popular in the future.

Brands have the opportunity here to manufacture their sustainability product lines under the banner of transparent and clear sourcing and production practices. Some of these attributes could be sourced materials, recyclable or biodegradable packaging, and nontoxic or natural fragrances. These attributes create more focus on the traits that brands are trying to embody and attract an increasingly concerned Eco consumer who is willing to invest more dollars in like-minded products. The marketers, on the other hand, can make use of these environmental advantages to create further brand loyalty and uniqueness of the products in the competitive market.

Key Findings:

• In North America, candles are commonly used in home decor, aromatherapy and as gifts. The region has a high demand for candles, particularly in the United States, which is the largest market for candles in the region. This is due to several factors, including a strong consumer culture, a high standard of living, and a large population.
• In February 2021, The Yankee Candle Company, Inc. introduced a new signature collection featuring over 30 container candles crafted from paraffin wax. 

Market Restraining Factors

• Fluctuating Raw Material Prices

The prices of raw materials for such an industry as candles are very volatile; some of the basic raw materials needed to make candles include wax, wicks, and fragrances. The prices may go up because of various reasons such as supply chain breakage, natural calamities, or shifts in global demand. For instance, a soybean shortage-one of the raw ingredients used to make soy wax-can cause high prices, hiking producers' cost of production.

The fluctuation of prices for raw materials catches candle manufacturers off guard, making producing candles under given profit margins difficult. To add to the costs, producers have to raise retail prices, which will then reduce the purchasing volume by price-sensitive consumers. The fluctuations could easily become overwhelming, making it complicated for business firms to make predictions of stock and finances. This volatility could be particularly challenging for small or emerging brands, which may not have sufficient financial cushioning to absorb the increases. Therefore, price uncertainty of raw materials is a major impediment to profitability and growth in the candle market.

Segmentation Analysis

The market scope is segmented because of By Product Type, By Material Type, By End User, By Distribution Channel.

By Product Type

Based on the Product Type of the market is segmented into Scented Candles, Unscented Candle, Decorative Candles, Votive Candles,Tealight Candles.

Scented candles dominate the market, driven by a growing consumer desire for home fragrance and wellness, reflecting a trend towards creating personalized, inviting living spaces. The purpose of making fragrant candles is to release pleasant aromas when they are burnt. Therefore, scented candles are in extremely high demand among those aromatic experiences seekers. For instance, a vanilla-scented candle is supposed to leave impressions of warmth and comfort and to enhance the ambiance of any given room. On the other hand, unscented candles are used strictly for convenience or ornaments. Such candles provide lights with no fragrance at all and are thoroughly suitable for dining and ceremony events. Decorative candles focus more on aesthetics, unique shapes, colours, and designs, which can be statement pieces within homes. Votive candles are generally small; they are mounted in holders and usually used for religious or ceremonial purposes, so they create a peaceful ambiance at events. Tea light candles are predominantly unscented and are put in thin, rolled-steel cups; these are very versatile when used for event decorations and ornamentation, as they lend soft lighting.

By Material Type

Based on the Material Type of the market is segmented into Paraffin Wax, Soy Wax,Beeswax,Palm Wax.

Paraffin wax remains dominant due to its low cost and widespread availability, although the shift toward sustainable options is gaining momentum. Paraffin wax is the most commonly used, derived from petroleum. It is used extensively because it is relatively inexpensive and can hold fragrances very well, which makes it a good candle to be used as a scented one, but environmental concerns are gaining ground, and consumers are rather opting for alternatives; soy wax made from soybean oil, for instance, has become increasingly popular as it is a clean burn and the wax lasts longer. Beeswax is a naturally sourced wax produced in the hives of bees, which has the singular, subtle scent and air-purifying qualities it's valued for. So if you're looking for a product that embodies those specific attributes, then beeswax is likely to be your gold option. Another good option is palm wax, sourced from the production of palm oil, whose environmentally friendly production coupled with its exclusive crystalline structures which can be achieved, is impeccable.

Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. North America holds a significant share of the global candle market, driven by a strong demand for scented and decorative candles. A focus on home fragrance and wellness in the region ensures higher candle consumption to create a peaceful ambiance. Moreover, the presence of established brands and solid retail infrastructure encourages growth in the market. This region's consumers are increasingly alarmed by environmental concerns and are turning towards the eco-friendly candles made of soy wax, beeswax, and so on.

There is a mature market within Europe when it comes to candle consumption, and the top consumers include Germany, the UK, and France. The market in Europe is now more skewed toward candles, among other things, as being high quality, artisanal, and luxurious products with respect to candles. Consumers are willing to pay more for a better smell that is different than others they may have, and sustainable materials used in making this product are always used. The general preference will be for an eco-friendly product that is produced ethically. Sales would primarily be driven during holiday seasons.

The Asia-Pacific candle market is also witnessing high growth with increases in disposable incomes, urbanization, and changes in lifestyle in this region. Countries such as China and India are witnessing an increased demand for both scented and decorative candles as consumers are trying to make their lives better. This growth also comes from the growth trend of gifting and the rising influence of Western lifestyle choices. In addition, this aromatherapy candle market is going up day by day with the increasing wellness and self-care practices.

North America is also home to many candle manufacturers and retailers, which can provide a wide range of products to customers. The region has a highly developed and diversified economy, which can help to support the growth of the candle market. Additionally, North America has a large and growing e-commerce market, which can provide manufacturers and retailers with new opportunities to reach customers and increase sales. Overall, the North American market can have a significant impact on the growth of the candle market by providing a large and growing consumer base, a wide range of products, and a supportive economic environment. The region's consumers are also increasingly looking for eco-friendly and natural alternatives, which can also drive the market growth in that direction.

These regions are gradually developing in the candle industry, with interest in local fragrances and ornament pieces on the rise. However, they remain smaller in comparison to North America and Europe. Local manufacturers are quick to capitalise on the growth trend toward personal and artisanal candles within niche markets.

List of Companies Profiled:

• Bath & Body Works Direct, Inc.
• Better Homes & Gardens
• Bridgewater Candle Company
• Colonial Candle
• Circle E Candles
• Diptyque S.A.S.
• Jo Malone London
• MALIN+GOETZ
• NEST Fragrances, LLC
• The Yankee Candle Company, Inc.
• Conscious Candle Company
• Contract Candles & Diffusers Ltd.
• Ellis Brooklyn
• TRUDON
• Le Labo

Key Industry Developments

• In 2022, Votive candles can influence the growth of the candle market by appealing to consumers who are looking for small, affordable candles for use in religious or spiritual practices, such as prayer or meditation. They can also appeal to customers who are looking for decorative candles for use in home decor or special events.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Candle Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Regional Analysis

North America accounted for the highest Candle% market share in terms of revenue in the Candle market and is expected to expand at a CAGR of Candle% during the forecast period. This growth can be attributed to the growing adoption of Candle. The market in APAC is expected to witness significant growth and is expected to register a CAGR of Candle% over upcoming years, because of the presence of key Candle companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Candle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Candle Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Candle Market valued?
• Which region has the largest share in 2024 for the global Candle Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of the Market

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Candle Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: