Candles Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A candle is a wick which can be ignited and is made up of wax. Earlier, the function of any candle was provide light only. But now a days, it has become a symbol of celebration with respect to any festival, ceremony, events etc. According to respective occasion, candles are available in various shapes, sizes, and colors. Candles are produced from different kinds of waxes such as beeswax, soy wax, paraffin, palm wax, etc. Candles market is anticipated to grow considerably during the forecast period all over the world.

MARKET SCOPE

The "Global Candles Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the candles market with detailed market segmentation by type, distribution channel, and geography. The report provides key statistics on the market status of the leading candles market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global candles market is segmented into scented and regular.
  
•   Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online retail and others.
  

MARKET DYNAMICS

Drivers:

•   Large scale celebrations on various festive occasions.
  
•   Rising urbanization and increasing per capita disposable income to boost market growth of candles.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The candles market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the candles market in these regions.

IMPACT OF COVID-19ON CANDLES MARKET

The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Due to pandemic of COVID-19, there were no public gatherings or social occasions on a large scale. Due to restriction of limited workforce, candles market also suffered from supply side. However, post pandemic, candles market is anticipated to grow rapidly.

MARKET PLAYERS

The report covers key developments in the candles market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from candles market are anticipated to lucrative growth opportunities in the future with the rising demand for candles in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the candles market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Bath & Body Works
  
•   Bridgewater Candle Company
  
•   Circle E Candles
  
•   Colonial Candle
  
•   Diptyque
  
•   Jo Malone
  
•   MALIN+GOETZ
  
•   NEST New York
  
•   Thymes, LLC
  
•   VILLAGE CANDLE
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Candles Report Scope