The Scented Candles Market Is Estimated To Record a CAGR of Around 4.1% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Scented Candles Market, 2023–2033. The global Scented Candles market is projected to exhibit a CAGR of around 4.1% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Scented Candles Market: Village Candle, Portmeirion Group PLC, Newell Brands, MVP Group International Inc, Estée Lauder Companies Inc, Diptyque Paris, Lalique Group SA, L Brands, NEST New York, Thymes, LLC.
Market Highlights
The Scented Candles market is projected to be valued at USD 0.78 Billion by 2033, recording a CAGR of around 4.1% during the forecast period. Scented candles are a type of decorative and aromatic home accessory that typically consist of a wax base infused with various fragrance oils or essential oils. When lit, these candles release a pleasant and soothing scent into the air, creating a relaxing and inviting ambiance in any space. Scented candles come in a wide range of fragrances, from floral and fruity to spicy and woody, catering to diverse preferences and enhancing the overall sensory experience for individuals seeking to elevate their environment with delightful scents.
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The Covid-19 pandemic significantly affected the Scented Candles market, leading to a negative impact on its growth and sales. With widespread lockdowns, restrictions on gatherings, and increased health concerns, consumers spent more time indoors, leading to reduced demand for luxury and non-essential items like scented candles. Moreover, economic uncertainties and job losses in many regions resulted in cautious spending behaviors, further dampening sales. Additionally, disruptions in supply chains and manufacturing processes due to lockdown measures affected production and distribution, causing delays and limited product availability. As a result, the Scented Candles market faced challenges during the pandemic, with a decline in demand and revenues across the industry.
Segmental Analysis
The global Scented Candles market has been segmented based on Raw Material, Product Type, Fragrance, Sales Channel, and region.
Based on Raw Material, the Scented Candles market is segmented based on Wax, Liquid Dyes, Soy, Glass, and Others. Wax is expected to have the largest market share throughout the forecast period, while Liquid Dyes are expected to grow at the fastest rate.
Based on Type, the global Scented Candles market has been divided into Jar, Pillars, Tea Light, Tumbler, Vase, and Others. The Jar segments are anticipated to dominate the market.
Based on the Production Technique, the global Scented Candles market has been divided into Fruits, Flower, Spices, Blends, and Others. The Fruits segments are anticipated to dominate the market.
Based on the Application, the global Scented Candles market has been divided into Online Retail and Offline Retail. The Offline Retails segments are anticipated to dominate the market.
For More Information : https://evolvebi.com/report/scented-candles-market-analysis-and-global-forecast-2023-2033-with-covid-impact-analysis/
Regional Analysis
The Scented Candles market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America region includes the U.S. and Canada, which are significant markets for scented candles due to their popularity in home decor and wellness practices. European countries, such as the United Kingdom, Germany, France, and Italy, have a strong presence in the scented candles market, with a growing trend of using candles for relaxation and fragrance. The Asia-Pacific region encompasses countries like China, Japan, India, and Australia, where the scented candles market has been gaining traction in recent years due to increasing disposable incomes and a growing awareness of aromatherapy benefits. Countries in Latin America, such as Brazil, Mexico, and Argentina, are witnessing a rising interest in scented candles, driven by lifestyle changes and an inclination towards creating inviting and cozy home environments. The Middle East region, including countries like the UAE, Saudi Arabia, and Qatar, has a long tradition of using fragrances, including scented candles, for cultural and religious practices. Although the scented candles market in Africa is relatively smaller compared to other regions, it is gradually expanding, driven by urbanization, changing consumer preferences, and a growing focus on personal well-being.
