Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Global Candle Market Size, Share & Industry Trends Analysis Report By Product, By Distribution Channel, By Wax Type, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Candle Market size is expected to reach $16.9 billion by 2028, rising at a market growth of 5.7% CAGR during the forecast period.
Key Market Players
- The Yankee Candle Company (Newell Brands, Inc.)
- Estee Lauder Companies, Inc
- Bed Bath & Beyond, Inc
- Diptyque (Manzanita Capital Ltd.)
- Ellis Brooklyn
- Trudon
- Contract Candles & Diffusers Ltd
- Conscious Candle Co
- The Bridgewater Candle Company
- NEST Fragrances
A wax block with a wick inside it is known as a candle. When it is ignited, it gives heat and light, as well as a scent in some cases. Candles are generally classified as accessories in the Home Decoration & Home Textiles (HDHT) sector.
There are various kinds of candles, but out of them, the most popular ones are; the basic candles taper with around 2.2 cm diameter, which is suitable for most conventional candle holders and pillars, with a range of widths is the most common types of functioning candles; fancy candles or decorative candles which comes in a fancy shape or form; scented candles which releases a soothing scent when ignited.
Both basic and fancy candles come in the set, but the scented ones are generally sold in modest quantities. To ignite a candle, a heat source is utilized to light the candles wick, which melts and vaporizes a small amount of fuel which is, in most cases, the wax. Once vaporized, the fuel combines with oxygen in the atmosphere to ignite and create a constant flame. This flame provides enough heat to burn the candle through a self-sustaining chain of events.
First, the flame's heat melts the top of the solid fuel's mass, after which the liquefied fuel moves upward through the wick through capillary action, and at the end, the liquified fuel is vaporized to burn within the candle's flame. With the melting and burning of the wax, the candle becomes shorter in size. Portions of the wick are consumed in the flame that is not emitting the vaporized fuel.
The length of the wick's exposed portion is limited by the incineration of the wick, which maintains the fuel consumption rate and constant burning temperature. Some wick needs regular trimming with scissors or a specialized wick trimmer to ensure a slower and steady burning while also preventing smoking. Snuffers are such specialized trimmers that are often combined with an extinguisher. Currently, wicks are constructed to curve over as they burn to ensure that the end of the wick gets oxygen and is then consumed by fire.
Market Growth Factors
Utilization for household decoration
Due to the rising affluent population, home decor has been gaining attention in various emerging economies. There is an increasing environment awareness among consumers, which has shifted their preference toward eco-friendly home decor products. Consumers' rising disposable income in developed and emerging nations fuels. Aggressive advertisements and celebrity endorsements have majorly contributed to the sector's growth.
Also, there is an increasing demand for unique and trending products like scented candles. They add a unique finish to the room, and many people use different colored candles to enhance their home features further and look. This supports the growth of the regional market.
Rising awareness regarding aromatherapies
Burning candles can majorly help to fight anxiety and stress. Candles have calming properties; the flickering light makes the user feel calm, and the ambiance is more tranquil.
On top of that, the particular scent allows the user to relax. This is one of the major factors why candles are utilized during aromatherapy sessions. These benefits associated with aromatherapy are expected to attract more people due to the rising stress among the general public. This will further increase the demand for such candles and propel market growth.
Market Restraining Factor
The presence of better alternative
Candles are known to give aesthetics to the room, but wax-made candles are not for long-term usage. Generally, an 8-ounce candle will burn in 2 to 3 days. But on the other hand, essential oils that come in smaller bottles will give many full sessions of the diffuser. A 5ml bottle of essential oil will last the user more than three days.
A diffuser will last around a year, and the essential oils' aroma can be extended much further. Also, it is possible to combine these oils and create a customized scent. These benefits of the essential oils over the candles may result in their wider adoption, which can hamper the candle market's growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 198 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $11641 Million |
| Forecasted Market Value (USD) by 2028 | $16917.3 Million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Scope of the Study
Market Segments Covered in the Report:
By Product
- Votive
- Container Candle
- Pillars
- Tapers
- Others
By Distribution Channel
- Offline
- Online
By Wax Type
- Paraffin
- Soy Wax
- Beeswax
- Palm Wax
- Others
For more information about this report visit https://www.researchandmarkets.com/r/fellzi
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