Candles Market Size to Reach USD 13,006.9 Million
The Latest Report published by Market Research Future (MRFR) suggests that the Global Candles Market is poised to attain the valuation of USD 13,006.9 Million by 2023. The report also adds that the market will be clocking a CAGR of 4.26% during the forecast period (2018-2023).Candle manufacturers
The Hike in Product Demand for Special Occasions to Elevate the Market Position
The crucial factors influencing the candle market include the rising use of candles for special occasions like marriage ceremonies or birthdays, festivals, events and so on. Further, the growth in the use of candles by therapists for inducing relaxation by creating a peaceful environment in therapy rooms and during prayers and meditation are additional factors that are working in favor of the candle market. Other than this, the expansion of e-commerce has led to an explosion of exciting growth opportunities for the manufacturers as well as suppliers the world over. With the aim of meeting with the constantly changing taste of the customers, the candles manufacturers and suppliers are now putting their focus on making their products available on several e-commerce websites. These factors are bound to bring excellent business for the candles market soon.
The Rising Production of Customized Candles to Aid in Market Growth
The continuously evolving trends and customer taste are prompting the candles manufacturers to develop and design customized candles. On that note, the scented candles enjoy considerable demand owing to their property of lightening the mood. Likewise, the aromatherapy treatment also involves the use of scented candles, for relieving mental and physical duress. The growth of the aromatherapy market has been rapid in recent years, as evidenced by the increased consumption of aromatic candles.
In addition to this, manufacturers are also churning out various innovative products, for instance, the mosquito repellent candles that help protect against mosquitoes. These mosquito repellent candles are in high demand due to their organic nature, and the pleasant scent emanated when burnt without the production of any toxic or harmful fumes. These favorable factors are presumed to have a lucrative effect on the candles market during the evaluation period.
Key Players and Industry Buzz
Candles Market comprises of numerous key players, including ZHONG Nam Industrial (International) Co., Ltd (Hong Kong), Colonial Candle (US), Empire Candle Co., LLC (US), SC Johnson & Son, Inc. (US), Candle-lite (US), Dandong Everlight Candle Industry Co, Ltd (China), Dianne's Custom Candles LLC (US), BeCandle (Hong Kong), Bath & Body Works Direct, Inc. (US), Armadilla Wax Works, Inc. (US), The Yankee Candle Company, Inc. (US), are the players currently leading the global candles market.