Name: the candle market
Brand: Businesscoot
Price: 89 EUR
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Summary

The global candle market, valued at approximately $10.08 billion in 2020, has been experiencing a growth trend, with expectations to expand at a compound annual growth rate (CAGR) of 6.3% from 2018 to 2026, according to Zion Market Research. The Asia Pacific region is predicted to be the fastest-growing market, potentially growing at a CAGR of 6.4% during the same period, largely due to prevalent festival celebrations such as Diwali. In contrast, the US market, representing a significant segment, was valued at $3.54 billion in 2019 with projections to reach $6.64 billion by 2027, growing at a CAGR of 8.18%. The US candle industry encounters cyclical sales with about 35% occurring during Christmas/holidays, driven primarily by demand for fragranced candles. Distribution through e-commerce has been particularly influential on market growth. The candle market encounters shifts towards increased home decoration and relaxation uses, but the COVID-19 pandemic has had a mixed impact, initially spurring demand due to consumers seeking a cozy home atmosphere but later encountering challenges with scent detection among those with the virus. Regulations and standards such as 16 CFR Part 1500.17 address product safety, focusing on substance restrictions and labeling requirements for metal-cored wicks..### Trends and Dynamics in the Candle Market The candle market in the United States reflects a blend of traditional demands and modern consumer preferences. Candles, once a mere source of light, have found renewed interest as versatile items serving decoration, aromatherapy, and air freshening purposes. This can largely be attributed to a shift in lifestyles and increased disposable incomes, making room for consumers to indulge in luxury candles with various shapes and exotic aromas. Predominantly, the US market sees a surge in candle sales during the Christmas holiday season, accounting for approximately 35% of total annual sales. Birthdays follow suit as another significant segment, owing to their integral role in celebrations. Not to be overlooked are special occasions like Diwali and Hanukkah, amplified by the growing Asian Indian and Jewish populations, respectively, which considerably contribute to the demand for traditional and ceremonial candles. In terms of market preferences, consumers lean heavily towards scented candles, with fragrance recognized as the crucial selling point. Four out of ten candle users place them in living rooms, highlighting a trend towards creating a cozy ambiance in common areas. Moreover, nearly one-fifth utilize candles to enhance outdoor settings, revealing a versatile use beyond the indoors. E-commerce has emerged as a formidable force, exacerbating the decline of physical specialty, gift, and department stores. Digital sales of home goods, which include decorative and scented candles, saw a substantial 10% year-on-year increase, reaching the territory between 85 and 90 billion dollars. On the production front, technological advancements have shaped the industry landscape. Methods such as immersion, molding, extrusion, and filling are employed, varying with the type of candles—ranging from the intricately scented to the simply decorative, and the materials utilized, such as soy wax, paraffin, and beeswax. Amidst growth and transformation, the candle market is not without its challenges. The Covid-19 pandemic served as a double-edged sword by increasing homely candle usage, while simultaneously impacting consumers' olfactory senses, crucial for the scented candle market. Nonetheless, manufacturers and retailers adapt, signified by a sprawling landscape of candle-making businesses. In regulatory terms, the US market is bound by safety and quality standards. Lead content limits and compliance with ASTM standards are definitive for market entry. Pricing in this market is diverse and has room to accommodate all—from the thriftiest at approximately two dollars for a votive to the premium end reaching about two hundred dollars and beyond for designer candles. Overall, the.### Illuminating the Market: Spotlight on Major Candle Industry Contenders The candle market is a vibrant space with a host of notable players, each contributing its unique scents, designs, and innovations to appeal to a diverse consumer base. Among these key participants are California Exotic Novelties, PandG (Procter & Gamble), LELO, Reckitt Benckiser, Gellite Gel Candles, Himalayan Trading Post, Bath and Body Works, and TATINE. These companies exemplify the dynamics within the candle industry, from the craft of traditional wax candles to the modern allure of electric spark plugs. **California Exotic Novelties** stands apart as an interesting player in the market, diversifying into candles used not just for lighting or aromatic therapy but as part of a wider range of lifestyle products that embellish living spaces and inspire personal experiences. **Procter & Gamble**, widely recognized for its extensive range of household products, has ventured into the candle segment under its well-established brand banners. The company's entry into the candle market exemplifies its adaptive strategy to meet the ever-evolving preferences of consumers seeking both comfort and luxury in their homes. **LELO** is a unique entrant, primarily known for being a leading brand in the personal and intimate wellness industry. Their foray into the sensory delights of candles showcases an expansion into creating a holistic ambiance that complements their core product offerings. **Reckitt Benckiser** is no stranger to the home care segment, and their presence in the candle market underscores their commitment to providing consumers with products that are essential for creating a fresh and inviting atmosphere in the home. **Gellite Gel Candles** introduces an innovative twist to the traditional candle concept with its gel-based candles. Their products offer a distinctive aesthetic appeal and burn behavior that positions them favorably among consumers looking for something a cut above the typical wax candle. **Himalayan Trading Post** crafts candles that are as exotic as the company's name suggests. Known for their use of traditional craftsmanship techniques, they produce candles that double as decorative art pieces with rich scents that speak to a niche market of candle aficionados. **Bath and Body Works** is a titan in the world of home fragrances and body care. Their range of scented candles is a testament to the brand's deep understanding of creating olfactory experiences that captivate the senses and transform the ambiance of spaces. **TATINE** is a testament to the artisanal and bespoke aspects of the candle-making craft. Their candles

the candle market - United States

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 07/12/2022

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Summary and extracts

1 Market overview

2 Demand Analysis

3 Market structure

4 Analysis of the offer

5 Regulations

6 Positioning of the players

6.1 Segmentation

Target
Walmart
Yankee Candles
Boy Smells
Jo Malone
Newbell Brands
SC Johnson & Sons
Empire Candle & Co
The White Company

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Latest news

E-commerce now accounts for 13% of Walmart's sales, with $73 billion. - 18/02/2022

The world's leading retailer posted sales of $572.8 billion in its last fiscal year.
Walmart has decided to double down on its drive, click&collect and delivery business
Sales for the Walmart US division reached $393.2 billion.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Target

Walmart

Yankee Candles

Boy Smells

Jo Malone

Newbell Brands

SC Johnson & Sons

Empire Candle & Co

The White Company

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the candle market | United States

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