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MARKET OVERVIEW

1.1 Definition and presentation

A candle is a lighting device consisting of a wick wrapped in wax. Its purpose has evolved over time and today candles essentially have a dual function: aesthetic and decorative, generating both a source of light and giving off a scent. The candle market is seeing the emergence of electric candles as well as digital candles at the expense of traditional historical candles.

The ease of purchase and the availability of different types of candles through multiple distribution channels are encouraging more and more people to buy these products. Specialty home décor stores are seeing the growth of supermarkets and hypermarkets, which benefit from discounted prices and varied offerings that are attracting more and more customers.

Europe, whose candle market is expected to grow by more than 6% per year in the coming years, is the dominant geographic region in the global candle market, ahead of the American and Asian markets. EU production has seen a similar growth trend, up 11% in value in 2018 compared to 2013, with Italy accounting for over 10% of total production. On the national territory, however, a real transformation has taken place, with a gradual shift from traditional production to a greater focus on design.

A multiplicity of players have indeed emerged to ride this wave of innovation, alongside the old traditional waxmakers, who are gradually adapting their product ranges to the different needs of consumers. Despite the fact that the traditional market is very concentrated, the new players are holding their own, notably thanks to a different target user: the Millennials

1.2 The global candle market

According to a study conducted by Zion Market Research, the global candle market was valued at US$*.* billion in ****. It is expected togrow at a CAGR of *.*% between **** and ****. 

Candles Market Size World, ****-****, US$ billion Source: ****

The fastest growing market during the period is expected to be Asia, which is ...

1.3 The Italian candle market

The candle market has completely transformed over the last decade, from a stable, slow and unpopular sector to an opportunity in which high fashion companies, startups and investors have bet with great success.

The graph below illustrates this radical change in market value: in * years, the value of production sold has ...

1.4 Imports and exports

Candle imports and exports were **.* million and **.* million, respectively, in ****, lower than in previous years due to the impact of the Covid ** pandemic on international trade. The coverage rate is about **%, as imports are larger in value than exports.

Candle imports and exports Italy, ****-****, in millions and in % Source: ****

As ...

1.5 Impact of Covid

Scented candles, as an object of interior decoration and closely linked to well-being, have reacted positively to the Covid ** pandemic and the restrictions that followed.

In fact, for more than **% of Italians, the coronavirus crisis has exacerbated their feelings of anxiety and stress, which is why spending in this area has ...

ANALYSIS OF THE DEMAND

2.1 Overview of the application

The European Candle Association has conducted a survey on consumer trends in candle buying.

Buying habits

The results show that more than half of the people who buy household items have also bought a candle, and if they have not done so, it is because someone else in the family has ...

2.2 Demand factors

The determinants of demand are multiple and originate in the increase in disposable income and thus consumer spending. Important drivers include medical and therapeutic uses, religion, home care and personal care.It is also interesting to note that the market boom took place largely thanks to social media, which helped create ...

2.3 Cyclicality of demand

In addition to being a product with many therapeutic and relaxing functions, candles are also an ideal gift. since candles are generally appreciated, they are a perfect solution for occasions and holidays.

The graph below represents the proportion of searches for a given term in a given region over a given ...

MARKET STRUCTURE

3.1 Market structure

The market structure is summarized in this section and includes the following companies:

historical players: traditional Italian ceramic factories, synonymous with excellence and Italian craftsmanship new players: innovative start-ups that focus mainly on online retail and distribution, targeting millennials and generation Z. large fashion companies, which in recent years have developed ...

3.2 Historical Italian Waxes

Italy also has a long history of excellence in the field of candles: some of today's leading wax makers, who produce design and furnishing products, were created more than two centuries ago to provide the population and churches with candles for religious functions and domestic lighting.

These artisans have survived the ...

3.3 New market players

The passion for domestic flames has also fueled the emergence of new workshops, where artisanal techniques meet contemporary tastes. These Italian and international startups are primarily targeting young people and teenagers, especially Millennials and Generation Z, unlike companies like Yankee Candle, which are more targeted at women between the ages of ...

3.4 Distribution channels

According to theEuropean Candle Association, supermarkets still dominate other distribution channels. In fact, pharmacies or supermarkets (***) are the most common places where people tend to buy candles.

There are still specialty stores and artisanal wax shops, which offer original and handmade products.

E-commerce

According to an article from ANSA, highly aesthetic ...

ANALYSIS OF THE OFFER

4.1 Overview of the offer

There are two main families of candles.

First of all, scented candles allow to introduce a subdued atmosphere in a space while giving it a particular smell. They are often broken down into three levels. The surface level is composed of the first aromas to be felt when the candle is ...

4.2 Candle making techniques

There are many ways to make candles, some very old and some recently invented. There is no one technique that is better than another, only techniques that are adapted to each type of candle or material.

IMMERSION: the oldest system consists of repeatedly dipping the wick into hot, and therefore liquid, ...

4.3 Product innovation: the first smart candle

Technological innovation is also present in the candle market, it is now possible to buy and light real candles via a smartphone.

This is a normal scented candle, created with real wax, a cotton wick and perfume, which can be activated electronically with a click. So it's not a classic LED ...

4.4 The luxury segment

The trend of candles as a decorative object, but also as a wellness and personal care object, has also involved the major high fashion brands, giving rise to a new segment of the candle market. This segment, characterized by extremely refined products, has emerged in recent years and has been very ...

REGULATION

5.1 Regulation: the REACH protocol

Regulation (***), provides for the registration of all substances produced in or imported into the European Union in quantities of more than one ton per year.

The REACH regulation has the following objectives

to improve knowledge of the hazards and risks posed by chemicals in order to ensure a high level of ...

5.2 Updates to existing standards

With the approval of CEN on September *, ****, the standards EN ***** "Spark plugs: fire safety specifications" and EN ***** "Spark plugs: product safety labels" in place since **** have been updated. The new standards must be implemented by the member states by April ****.

These updates follow last year's update of EN ***** "Spark plugs: specification ...

POSITIONING OF THE PLAYERS

6.1 Segmentation

  • IKEA Italia
  • Yankee Candle France
  • Zara Home Italia
  • Gucci
  • Dolce & Gabbana Groupe
  • Gianni Versace
  • Salvatore Ferragamo
  • Giorgio Armani
  • Cereria Di Giorgio
  • Cereria Graziani
  • Cereria Giovanelli
  • Candle Touch
  • Coreterno
  • Boy Smells

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Method

Data
Analysts 1 sector analyzed
in 40 pages
Method
Control

Analysts

  • Top Universities
  • Expert opinion

Data

  • Databases
  • Press
  • Company reports

Control

  • Continuously updated
  • Permanent watch

Method

  • Synthetic structure
  • Standardized charts

Analysts

Hugo Schott

chargé d'études économiques, Xerfi

Hugo Schott

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin Charbonnier

PhD Industrial transformations

Robin Charbonnier

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane Essadiq

EDHEC

Imane Essadiq

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules Decour

Consultant

Jules Decour

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.