The global Scented Candles industry saw a good shift upwards before the pandemic and is expected to grow as economies ease and open up. The lucrative growth outlook of the global scented candles market is marked by steady developments in the hospitality sector besides growing adoption across residential and other commercial areas.
The size of the global market for Scented Candles is expected to reach US$ 5.4 Billion by 2032, expanding at a compound annual growth rate (CAGR) of 4.1%.
The outbreak of coronavirus disease (COVID19) severely restricted the global scented candles markets in 2020 as trade restrictions disrupted the supply chain and along with it, the government blockades around the world reduced consumption. Covid-19 is a novel virus infection showing symptoms of cough, breathing complications, and flu. The virus impact was first felt in China's Wuhan in 2019. In no time did the virus spread far and wide across regions and severely affected businesses. The onset of this “Black Swan” event made a huge dent in the global Scented Candles market as businesses and factories shut, demand subsided, vehicles stopped, and everything came to a halt altogether. Lockdowns were a dampener on businesses as not only supply chains disrupted which hampered the demand but also the commercial use came to a halt due to the closure of all public spaces resulting in a double hit to the demand for scented candles market. The market has been recovering given the effect of COVID-19 subsiding, which is anticipated to drive growth during the forecasted period.
Based on Wax Type,
The global scented candle Market is expected to witness significant growth over the forecast time period, owing to increasing applications of candles. In recent years, the organic scented candle erupted as the most demanded segment as consumer preferences for naturally sourced products in the home decor sector. Organic scented candles are in great demand as these candles do not emit any blackening effect. The increasing awareness among people about the negative impact of candle burning on the environment is a motivating factor for the adoption of these candles.
The global scented candles market is identified to have various candle manufacturers in the unorganized vendor landscape. This is likely to adversely affect the growth transition. Synthetic candles made up of lead wicks, contaminated oil, and synthetic fragrances result in indoor air pollution which ultimately becomes the cause of respiratory and other health issues. Alternatively, the growing awareness about eco-friendly and decorative candles is expected to unwind untapped growth opportunities in the coming years.
Based on Wax, the market can be bifurcated into Palm Wax, Paraffin, Soy Wax, Beeswax, and Others. Given the flexibility to accommodate any mold, the paraffin wax segment to sustain the largest revenue at affordable prices. Paraffin is a petroleum by-product and is water-resistant, it is widely used for producing floating candles. Soy wax segment is also expected to shoulder high revenue potential in the coming years.
Based on the Product Type
In the scented candles market, the container-based segment held the highest revenue in the previous years and it is expected to further continue the trend. The possibility of candle personalization and customization offering choicest fragrances appealed to a large number of consumers. Therefore, the container-based segment is poised to coin the highest revenues. This is followed by the large-scale adoption of container-based scented candles to serve home-decor needs. Soothing scents are preferred by millennials as they create a relaxing ambiance and maintain a positive mindset. Many manufacturers offer customized container-based scented candles.
Based on the Application,
The residential sector is likely to sustain its lead as the highest revenue-generating segment based on application. Other application segments comprise commercial segments. But increased usage in the commercial segment in spas, restaurants, and other commercial settings has been the driving factor for the further growth of this market for the forecasted period.
Based on distribution channel,
During the forecast period, based on distribution network, the supermarkets and hy[ermarkets segment is poised to be the most remunerative.
Based on the region,
Based on region the scented candles market can be classified into five major regions i.e. North America, Europe, Asia- Pacific, South America, Middle East, and Africa. North America emerged as the most lucrative region and claimed the largest revenue stream in recent years. Owing to improved spending on home-styling and renovation projects, the region claimed the largest revenues. Additionally, the hospitality sector is also one of the vital adopters of scented candles, more specifically during festivals and celebrations.
Candles were used at first as a source of light but, now are considered more as a symbol of celebration. Besides serving as the decorative source of light, scented candles are now being adopted to improve aroma and the senses across regions. These scented candles are used for various celebrations, ceremonies, and events which are available in multiple sizes, shapes, and aromas. Various sources of wax are used to make scented candles such as paraffin, soy wax, palm wax, and beeswax. Also, numerous oils are also used to offer scented candle aromas. This, unlike incense, does not add smoke to the air as most scented candles don't produce smoke. Various processes and manufacturing activities are adopted to produce high-end scented candles.
The global Scented Candles market size is expected to rise up to 850 million at a CAGR of 7.3% during the forecast era, 2021-2028.
The demands for scented candles have been growing profusely owing to large-scale adoption in the home decor sector across residential and commercial areas. Additionally, as the global population is investing more in the celebrations, demands for scented candles have grown manifold. Manufacturers in the global scented candles space and therefore are coming up with various fragrances and aromas which are also improving global demand for scented candles. As consumer inclination for aesthetic diversification rises, scented candles are expected to witness a startling rise.
Furthermore, the utility of candles in the commercial setting has been witnessing a climb, with the majority of spas, massage centers, and other such relaxation businesses using scented candles for a soothing effect. In a similar fashion, restaurants and fine dining places are increasingly using these candles to create an aromatic ambiance for the customers.
Major companies, such as Village Candle, Portmeirion Group PLC, Newell Brands, Diptyque Paris, MVP Group International, Inc., Estée Lauder Companies Inc., Lalique Group SA, etc have integrated their business operations globally to tap into the growing demand.
Latest Innovations: a Snapshot
- In May 2021, home goods manufacturer Stonewall Kitchen announced the opening of the maiden outlet of Village Candle in Maine. The latest outlet is over 5 thousand sq ft and is designed to exhibit various scented candle varieties.
Scented Candles Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 850 million|
|Growth Rate||CAGR of 7.3% during 2021-2028|
|Segment Covered||By Wax Type, By Product Type, By Application, By Distribution channel, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Village Candle, Portmeirion Group PLC, Newell Brands, Diptyque Paris, MVP Group International, Inc., Estée Lauder Companies Inc., Lalique Group SA.|
Key Segments of the Global Scented Candles Market
Global Scented Candles, By Wax Type
- Synthetic Wax
- Paraffin Wax
- Vegetable Wax
- Palm Wax
- Soy Wax
- Animal Wax
Global Scented Candles, By Product Type
- Container candle
Global Scented Candles, By Application
Global Scented Candles, By Distribution channel
- Convenience Stores
- Hypermarkets and supermarkets Stores
- Online Retail
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa