Dublin, July 21, 2023 (GLOBE NEWSWIRE) -- The "Scented Candle Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This comprehensive report provides critical information for strategists, marketers, and senior management to assess the scented candle market.
The market is projected to grow from $3.69 billion in 2022 to $3.90 billion in 2023, with a compound annual growth rate (CAGR) of 5.9%. Furthermore, the market is expected to reach $4.81 billion by 2027, exhibiting a CAGR of 5.4%.
Major players in the scented candle market include California Exotic Novelties, Colonial Candles, CoScentrix, Diptyque, Himalayan Trading Post, Lee Naturals, Lelo, Magnolia Scents by Design, Mels Candles, Net-A-Porter, Newell Brands, Northern Lights Candles, Amy's Country Candles, BeCandle, Bolsius International BV, Brandt Kaarsen, and Bridgewater Candles.
Reasons to Purchase:
- Gain a comprehensive global perspective with detailed coverage of 50+ geographies.
- Understand the market's response to COVID-19 and its impact as the virus abates.
- Assess the direct and indirect effects of the Russia-Ukraine war on agriculture, energy, mineral commodity supply, and the market.
- Measure the influence of high global inflation on market growth.
- Develop regional and country-specific strategies based on localized data and analysis.
- Identify investment opportunities in growth segments.
- Outperform competitors using forecast data and insights into market drivers and trends.
- Understand customer dynamics based on the latest market shares.
- Benchmark performance against key competitors.
- Support internal and external presentations with reliable high-quality data and analysis.
A scented candle refers to a candle infused with fragrant oils that release a pleasant aroma when burned. It creates an ambiance of healthfulness and well-being and is used in aromatherapy for therapeutic purposes. Scented candles are available in various types such as jars, pillars, tea lights, tumblers, vases, and others.
Product innovations are driving the scented candle market, with major players focusing on developing unique offerings to gain a competitive edge. For example, in February 2020, McDonald's launched a scented candle pack that smelled like a Quarter Pounder when burned. The candle set included scents inspired by the ingredients of a Quarter Pounder, such as ketchup, pickle, cheese, onion, bun, and 100% fresh beef.
North America accounted for the largest share of the scented candle market in 2022, while the Asia-Pacific region is expected to witness significant growth. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Key countries analyzed in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Changes in lifestyle leading to stress and related ailments are driving the scented candle market. Stress, caused by physical, emotional, or psychological distress, has increased due to various factors, including the uncertainties brought about by the COVID-19 pandemic. People are seeking relaxation techniques like aromatherapy, which utilizes scented candles, to alleviate anxiety and despair.
For instance, the World Health Organization reported a significant increase of 25% in anxiety and depression cases worldwide in the first year of the COVID-19 pandemic (2020). The use of scented candles in aromatherapy aligns with the growing demand for chemical-free techniques to manage stress and improve well-being. These factors contribute to the growth of the scented candle market.
The scented candle market comprises sales of soy wax, beeswax, and palm wax candles. The market value includes the value of goods sold by manufacturers or creators, either to other entities or directly to end customers. It also includes the value of related services sold by the creators of the goods.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $3.9 billion |
| Forecasted Market Value (USD) by 2027 | $4.81 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Scented Candle Market Characteristics
3. Scented Candle Market Trends And Strategies
4. Scented Candle Market - Macro Economic Scenario
4.1. COVID-19 Impact On Scented Candle Market
4.2. Ukraine-Russia War Impact On Scented Candle Market
4.3. Impact Of High Inflation On Scented Candle Market
5. Scented Candle Market Size And Growth
5.1. Global Scented Candle Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Scented Candle Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Scented Candle Market Segmentation
6.1. Global Scented Candle Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Jar
- Pillar
- Tea light
- Tumbler
- Vase
- Other Product Types
6.2. Global Scented Candle Market, Segmentation By Raw Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Wax
- Liquid Dyes
- Soy
- Glass
- Other Raw Materials
6.3. Global Scented Candle Market, Segmentation By Fragrance, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fruit
- Flower
- Spice
- Blends
- Other Fragrances
6.4. Global Scented Candle Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Online Retails
- Offline Retails
7. Scented Candle Market Regional And Country Analysis
7.1. Global Scented Candle Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Scented Candle Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/xo4793
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