The latest market report published by Credence Research, Inc. “Candles Market: – Growth, Future Prospects and Competitive Analysis, 2019 – 2027,” the global candles market was valued at US$ 8,426.31 Mn in 2018, and is expected to reach US$ 13,031.03 Mn by 2027, expanding at a CAGR of 5.5% from 2019 to 2027.
“Availability of the product in various colors, shapes, size and fragrances is stimulating the market growth”
Candle manufacturing is a multibillion dollar industry worldwide. During the holiday season, more than, one-third of candle sales take place. Candles come in all sorts of shapes, sizes, colors and scents. It has been observed that end users tend to use candles once a week. Fragrance, color and price are widely considered among the most important factors when buying candles. Mass merchandise retailers and department or home decor stores are most common locations where people tend to buy candles.
In the consumer goods industry, retail shelf space and product availability plays a very vital role in creating demand for the product. Distribution is a key success factor in the current candles industry. Rising competition and comparatively moderate growth rate of the candles market has compelled companies to focus on increasing product penetration. Supermarkets, drugstores, mass merchandisers, discount stores etc. play an important role in the distribution of candles. Rising consumer demands for organic scented candles, specialty candles, and liquid candles among others is driving the shift from niche distribution channels to mainstream mass retailers. Mass merchandisers such as Wal-Mart are introducing scented candles products. Moreover, supermarkets are also expanding their product range. This has resulted in a sharp increase in sales of candles.
• In May 2018, GALA-KERZEN announced the acquisition of Korona Candles S.A. Through this acquisition the company is trying to expand its geographical outreach and product portfolio.
Key Market Movements
• Globally, the piezoelectric devices market is expanding at a CAGR of 5.5% in terms of revenue for the period of 2019 to 2027. In 2018, the market accounted for US$ 8426.31 Mn and is expected to reach US$ 13,031.03 Mn by 2027.
• The market is highly fragmented owing to presence of numerous players. The barriers to entry in the candle industry are low. The small candle makers are rising up and taking their piece of the pie. Many customers are opting to purchase candles from the smaller hand crafted market owing to the uniqueness, quality, and the ability to customize their orders.
• Asia Pacific region anticipated to grow swiftly on the back of changing customer lifestyle, availability of products and rise in aroma therapeutic activities in countries such as India, China, and japan among others.
List of Companies
• The Yankee Candle Company, Inc.
• VILA HERMANOS CERERÍA SA
• Suomen Kerta Oy
• Balthasar Co. AG
• Cereria Pernici Srl
• Delsbo Candles AB
• Gies Kerzen GmbH
• GALA-Kerzen GmbH
• Bolsius International BV
• SC Johnson & Son, Inc.
Browse the full report at https://www.credenceresearch.com/report/candles-market
The Global Candles Market is Segmented into:
|Segmentation||By Type Segment (2017–2027; US$ Mn)|
|By Distribution Channel Segment (2017–2027; US$ Mn)|
|By Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page