Scented Candles Market Volume Forecast And Value Chain Analysis By 2030
Scented Candles Market Overview
A blend of natural and synthetic constituents with an aromatic tinge forms a scented candle. The fragrance of scented candles is often extracted from essential oils, suitable chemicals and even plant products. This includes flower plants and herbs. They come in different fragrances and colours, depending upon the source they are extracted from. The scented candles emit fragrance when lighted and thus provides a gentle tinge to the environment. Along with home décor, they are also used to enhance the house's aesthetics. Lighting an aromatic or a scented candle can easily relieve your stress.
In 2022, the scented candles market size was estimated to be worth USD 3.3 billion. The market for scented candles is anticipated to increase from USD 3.4 billion in 2023 to USD 4.8 billion in 2030, with a compound annual growth rate (CAGR) of 5.80% from 2023 to 2030. An increase in the use of eco-friendly candles, an increase in the number of spas and massage parlors, an increase in consumer awareness of these products, and an increase in the consumption of candles for home decoration are a few of the key market factors influencing the growth of the scented candles market.
A potential rise in the people's interest in the interior decoration of their residential and commercial places has driven the market dynamics. The concept of aromatherapy and massages have proven to relieve stress from people when carried out with the procedures. It is seen that the usage of scented candles in spas and clinic have relieved the patients of any mental stress. This drove the Scented Candles Market rate with potential demand for organic and eco-friendly candles. Manufacturers have been launching various scented candles with various fragrances, textures and types that attract not only a customer but also increase their market trends. The use of lavender, lemon and grapefruit-flavoured scented candles is in maximum usage due to their amazing fragrances. These scented candles can also be used to decorate restaurant tables for dinner and other purposes. Factors like such are estimated to drive the market rate at the global level.
The contribution of scented candles for infrastructural facilitation is one of the major factors expected to drive the Scented Candles Market. The market also showed healthy growth, owing to its forecast period. It is predicted to demonstrate a market rate of $4.22 billion by the end of 2027. The market's forecast period is estimated from 2020 to 2027, within which the market also demonstrated a fixed CAGR rate of 5.8% of CAGR. However, excessive use of these candles produces toxic gases that are unhealthy for inhaling. Also, the availability of alternate products in the market is always a threat to the current market dynamics.
Market Segmentation
The Scented Candles Market is divided into product type, category and distribution channel based on different market dynamics factors.
The market is segmented by product type: animal wax, paraffin wax, vegetable wax and synthetic waste. By category, the market is again segmented into premium and mass. The market is divided into store based and non-store-based, depending upon the distribution channel.
Regional Analysis
Covering up major parts of the world like North America, Europe, Asia Pacific and the Middle East and Africa, the Scented Candles Market is spread globally. Few countries like India, Japan and China have shown major developments in case of market performance that has significantly boosted market growth.
Industry News
Some of the major key players of the Scented Candles Market include Welburn Candles, Conscious Candle Company, The Yankee Candle, Conscious Candle Company, Empire Candle and Colonial Candle (US), S.C. Johnson & Son.
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