An in-depth study on the Candle Market has been conducted to understand its landscape in 2023.

An in-depth study on the Candle Market has been conducted to understand its landscape in 2023.

Survey period: March 20-27, 2023
Survey company: SDKI Inc.
Survey Base: We surveyed 538 market players of all sizes.
Number of valid answers: 538
Survey method: 228 field surveys, 312 Internet surveys
Survey Respondents: The survey was conducted among companies based on revenue. Question: What are candles? How big is the candle market and what is the projected growth rate through 2035?
A candle is a lump of wax with a wick inside. When lit, it emits heat and light, and the candle emits a faintly sweet scent. They are generally classified as home accessories in the Home Textiles and Home Decoration sector. The candle market is projected to reach
approximately US$30 billion by 2035, from a market value of
approximately US$12 billion in 2022. Candle market is growing at a CAGR of around 6% during 2023-2035.
Question: What are the factors driving the growth of the candle market? With increased awareness of self-care and mental health, more time spent at home, and increased demand for a comfortable space and environment, consumers are spending more on home decor and
renovations. . According to the Dubrovnik Times, in 2021, many people turned to using candles for self-care purposes, as certain scents contained in candles have been proven to improve people’s moods. Below are some of the other prominent factors driving the growth in the candle market space –
Widespread use at festivals, gatherings and events
growth in personal consumption
Growing demand for scented and eco-friendly candles
[Image 1:×720.png] Question: What are the major classifications of the candle market? The candle market can be segmented by raw material and by type. These segments branch further as follows:

By type

tea light
birthday candle
cartridge candle
container candles with wax

Based on type, the votive segment is expected to hold the largest market share by the end of 2035. Votive candles are small,
slow-burning candles with a bell-shaped top to help the wax melt evenly. Additionally, these candles help spread the scent evenly. Votive candles typically burn for about 10 hours and are slightly larger than tealight candles. It seems that candles are often used to create a calm space according to the interior and atmosphere. These benefits offered by votive candles are driving the expansion of the sector. Statistics estimate US retail sales at around US$4 billion annually.
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By raw material

paraffin wax
rapeseed wax
palm wax
soy wax
[Image 3:×720.png] Question: What are the challenges hindering the growth of the candle market? Indoor air pollution from synthetic candles containing contaminated oils, lead wicks and synthetic fragrances has not only led to respiratory problems, but other health problems as well. According to a study by the U.S. Environmental Protection Agency (EPA), heavy use of volatile organic compounds (VOCs) in candles can cause headaches, skin rashes, fatigue, nausea, runny nose, dizziness, and even cancer and organ damage. can cause health problems.
Other factors limiting market growth include:
Growing demand for LED candles
Consideration for the environment

Question: What companies are leading the candle market? What are some of the recent developments in the candle market?
Below are the companies that built the candle market –
Baltic Candle Ltd
Delsbo Candle AB
AS Hansa Candle
Gala Kerzen
Seras Lura SA
Candle Scandinavian Group AB
Contract Candles & Diffusers Ltd
Vollmar GmbH
Denis AB
Bolsius International B.V.
Le Labo

The latest developments in Candle Market are:
Balmain and Trudon have announced the launch of limited edition Balmon-Trudon fragranced candles in January 2021. Freshly scented with Trudon’s famous Ernesto candles.
Le Labo’s new home fragrance Encens 9 will launch in May 2021 as part of its candle line. Le Labo’s fragrance experts created the Encens 9 scent using resin and amber to create a soothing effect.

Question: Why is the North America region expected to offer the most lucrative opportunity in the candle market?
The market in North America region is expected to hold the largest market share during the forecast period. The demand for candles increases significantly in cold climates. Fragrant candles can help people escape stress and trouble while reducing anxiety by 40%. Growing awareness of self-care in the region has contributed significantly to the demand for candles. In 2021, retailers will focus on a consistent supply of seasonal scents to maintain steady sales throughout the year, according to glass packaging maker Glasno. Question: Which other region is expected to hold a large market share or show significant growth in the candle market by 2035?
The market in Europe region is expected to hold a large market share during the forecast period. Germany, Great Britain, France and the Rest of Europe These countries are the major regions of the European subcontinent. Europe is one of the largest in international trade. With the establishment of the European Union (EU), the economies of the member states expanded uniformly within Europe. Given the risks associated with the outcome of the Brexit negotiations, the UK could lose access to the European Union’s trade and investment markets, which could adversely affect UK finances. Europe’s momentum in the global economy has remained stable overall, and this global uptrend is expected to continue over the next few years. In addition, the increasing trend of using candles for ornamental purposes and the increasing demand for eco-friendly and natural candles are the main factors that increase the need for candles in the region. Europe accounts for two-thirds of the world’s eco-friendly candle imports. The Asia-Pacific market is expected to be the fastest growing market during the forecast period. The increase in hotels, restaurants and spas in the region is expected to drive the market in the region. According to TOP HOTEL PROJECTS construction database, 2,626 projects and 6,18,676 rooms will open in Asia Pacific in 2021, making it the fastest growing market in the world. According to a report by the Japan Candle Industry Association, the size of the Japanese candle market in 2020 is about US$300 million. The Japanese candle market is primarily driven by domestic consumption, with exports accounting for only a small percentage of sales. In addition, the market for high-quality, high-end candles is expanding in Japan. Often made from natural materials, they are marketed to enhance the ambiance of a room. Overall, the Japanese candle market is a growing industry with diverse products and distribution channels. Demand for this type of candle is expected to continue to grow as consumers become more ecologically conscious and natural.
[Image 4:×720.png] About us:
SKI’s goal is to provide authoritative, in-depth research and insights. We focus on researching and providing detailed reports on growth indicators, challenges, trends, and the competitive landscape, as well as working with our clients to develop business strategies for maximum growth and success. Achieve total transformation. Our expertise is the result of years of working with companies of all sizes in various market sectors.

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