01st Mar 2021 - The global Scented Candles Market is anticipated to reach USD 545.2 million by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 8.4% during the forecast period, 2019 to 2025. These candles are extensively used in various aroma therapies that help in reducing mental and physical stress and heal various pains. It helps in re-energizing one’s spirit by releasing mild and soothing fragrance. Premium products are made up of three layers of different fragrances. Moreover, organic scented candles contain high concentration of essential oils such as lavender, blueberry, rose, chocolate, and others to enhance the aroma and create a relaxing effect. This is anticipated to boost the market growth from 2019 to 2025.
Long term usage of these candles reduce the skin-related problems, boosts immunity, and improves blood circulation and digestion. Pain Research and Treatment has published a report in Nov 2016 which stated that aroma therapies are highly effective in healing pain. Such reports are expected to contribute to the promotion of this product, thereby, boosting its sales over the forecast period.
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Container-based segment is the fastest selling product segment owing to zero-wastage of wax which provides convenience to the consumers. Moreover, there is no requirement of candle holder or candle stand to hold the product. Therefore, the popularity of this product is rising rapidly.
Convenience stores held the largest market share in 2018 owing to presence of large number of convenience stores in countries such as China, India, Australia, and Japan. Further, this number is expected to increase at a robust pace in countries such as China and Japan. The online distribution channel segment is projected to grow at the fastest rate owing to rising penetration of ecommerce platforms and emergence of key players such as Amazon, Candle Warehouse, Prosperity Candle, Candle Scandinavia Group AB, and Nordic Nest.
North America was the largest scented candle market owing to rising demand for scented candles from spa and massage centers. Major players operating in this market are The Very Good Candle Company, Newell Brand, Goose Creek Candle, Broken Top Candle Company, The Copenhagen Candle Company LTD, Kringle Candle Company, Estee Lauder, L Brands, Manzanita Capital, Village Candle Inc., and Bridgewater Candle Company. All these players are concentrating on strategic initiatives such as M&A to enhance their distribution network and global presence. For manufacturing best-quality products they are focusing on their value chain and manufacturing pitfalls.
Further key findings from the report suggest:
- In 2018, the container based product segment accounted for the revenue share of over 55%. The pillar product segment is projected to grow at the fastest CAGR of 8.1% over the forecast period
- The segment of online distribution channel is anticipated to at the fastest CAGR of 9.2% over the forecast period owing to rising penetration of e-commerce portals. The convenience store segment held the largest market share of over 55% in 2018.
- The market for scented candles in North America held the largest market share of over 35% owing to rising product demand from massage centers and spa in countries such as Canada, Mexico, and U.S.
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Scented Candles Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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