Market Scenario ,
Market Research Future (MRFR) studied the global scented candles market 2021 for the analysis period till 2024. As per MRFR study, the global scented candle market is expected to thrive at 5.80% CAGR during the analysis period. By 2024, the global scented candle market is expected to touch USD 4.22 Bn.
Drivers and Restrains Impacting Scented Candle Market
The expansion of the global scented candles market can be primary driven by the increase its application as home care product. The surge in per capita disposable incomes of consumers and the changes in consumer spending behavior can favor the expansion of the scented candle in the near future. The increase in expense of people on home furnishings, such as; candles, to improve home décor is also observed to boost the demand for scented candles. The widespread application of scented candles in aromatherapy can prompt the expansion of the global market of scented market by 2024. On the contrary, lack of awarness about scented candles among numerous people can hinder the growth of the scented candles industry across the analysis period.
Segment Assessment of Scented Candles
The segment study of the global scented candles market is based on distribution channel, product type, and category. The product type-based segments of the scented candles market are vegetable wax, synthetic wax, animal wax, and paraffin wax. The category-based segments of the scented candles market are premium, category, and mass. The distribution channel-based segment assessment of the scented candles market consists non-store-based and store-based. The sub-segments of the store-based distribution channel are supermarket, convenience stores, and & hypermarkets among others.
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Regional Study of the Global Scented Candles Market
The segment study of the global scented candles market is done across Asia Pacific, North America, Europe, and the rest of the world. North America scented candles market is assessed for the US, and other regions; Canada, and Mexico. In Europe, the market of scented candles market is assessed for the UK, Italy, Germany, France, and Spain. Asia Pacific scented candles market is assessed for China, New Zealand, India, Japan, and Australia, along with the rest of regions in Asia Pacific. The rest of the world, regional study segments of the scented candles market are; South America, the Middle East Asia, and Africa.
In North America region, the scented candle market is likely to hold around 32% share of the global scented candles market by 2024. The expansion of the scented candles market in North America can be attributed to the growing preference for aromatherapy. The increase in the adoption of aromatherapy solution in this stressful time, the growing sales of scented candles that are crucial in aromatherapy is expected to favor the global market. The increasing adoption of scented candles for home décor application to induce relaxation in people can also favor the scented candle market in North America during the study tenure. The scented candle in the US is likely to retain its position throughout the evaluation period, while the market in Canada is anticipated to witness the highest share of the regional market. In Mexico, the scented candle market is expected to thrive owing to the presence of a large consumer base in the region. In Europe, the high consumption and trading of scented candles can contribute to the growing popularity of scented candles in the region, which, in turn, is expected to support EU market. The increasing application of scented candles as decorative accessory over its functional use is gaining prominence in the home décor sector that can prompt the market upsurge in the years to come. The scented candle market in Poland is likely to garner high revenue as major suppliers reside in the region and contribute to high revenue generation for the market. In Asia Pacific region, the scented candles market is projected to expand at a healthy CAGR by 2024.
Key Players of Global Scented Candles Market
Reckitt Benckiser Group plc (UK), Newell Brands (US), The Procter & Gamble Company (US), L Brands, Inc. (US), Bolsius International BV (Netherlands), Conscious Candle Company (Australia), Colonial Candle (US), Welburn Candles Pvt Ltd (India), S.C. Johnson & Son, Inc. (US), Brandt Kaarsen (US), The Yankee Candle Company (US), BeCandle (Hong Kong), Zhong Nam Industrial (International) Co., Ltd. (Hong Kong), Empire Candle Co., LLC (US), and Candle-lite (US) are some top-notch companies that are working in the global scented candles market as profiled by MRFR.
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