1.1 Definition and presentation
The candle is a light fixture composed of a wick wrapped in wax which is intended to decorate accomodation by generating a light source or to deodorize a room. The market can be segmented by candle type: besides traditional candles, the candle market is witnessing the emergence of electric spark plugs. However, there are other types of candles such as tea lights, birthday candles, cartridge candles, etc. The market can also be segmented depending on the raw material used to form the base of the candle: beeswax, stearin, paraffin wax, canola wax, palm wax, etc.
Consumers are buying more and more candles for home decoration, stress reduction and relaxation through aromatherapy. Moreover, the increasing disposable incomes and changing lifestyles of consumers have enabled them to spend more money on candles with better shapes and exotic aroma, which is also boosting this global market. [globenewswire]
The US candle market has contracted over the last years due to external competition which has pressured prices. Candle sales in the US are highly cyclical; 35% of sales occur during Christmas/holidays. [candles] Moreover, fragrance remains the most important attribute for US consumers.
The distribution of candles occur in specialized decoration stores which are seeing the growth of supermarkets and hypermarkets, which are benefiting from reduced prices and varied offers that are attracting more and more buyers, while the e-commerce has also contributed to the increase in candle sales. The market is fragmented, and include players such as California Exotic Novelties, PandG, LELO, Reckitt Benckiser, Gellite Gel Candles, Himalayan Trading Post, Bath and Body Works and TATINE.
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