Jan 19, 2021 (Heraldkeepers) -- Market Analysis
The global scented candles market is likely to touch USD 4.22 billion at a 5.80% CAGR between 2019 2024, according to the recent report by Market Research Future (MRFR). Scented candles are used for removing the unpleasant odor from the surroundings. Animal wax, vegetable wax, paraffin wax, and synthetic wax are the different products used for making scented candles.
Various factors are adding to the global scented candles market growth. Such factors, according to the new MRFR report, include its increasing use as a home care product, in aromatherapy, for relaxation and stress reduction, consumers increasing per capita disposable income, product innovation, and rising investments in home decor.
On the flip side, volatility in raw material prices is likely to limit the global scented candles market growth.
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Covid-19 Analysis on Scented Candles Market/Covid-19 ABC Market Analysis
The coronavirus pandemic is turning to a serious threat to the worldwide economy. The harsh reality is, alcohol a key ingredient in scented candles is getting harder to obtain, harvests of chief ingredients are remaining unpicked, stores have closed, and customers are demanding various products. Industries that are invoked via candle scents are hit hard by the coronavirus restrictions with events such as Glastonbury cancelled till 2021. As people are staying at home, they have begun stocking and buying scented candles online. Scented candles offer calm and comfort at this challenging time. With non-essential businesses granted permission to open their doors again, it is likely to have a positive impact on the scented candles market growth. A candle-making duo in London, Niko Dafkos, and Paul Firmin have created charity candles for reminding customers of the places that are hit via the coronavirus outbreak, having the scents of the festivals, the cinema, and the pub.
The MRFR report offers an inclusive segmental analysis of the global scented candles market report based on category, product type, and distribution channel.
By product type, the global scented candles market is segmented into animal wax, vegetable wax, paraffin wax, and synthetic wax.
By category, the global scented candles market is segmented into premium and mass.
By distribution channel, the global scented candles market is segmented into non-store based & store-based. The store-based segment is again segmented into convenience stores, supermarkets and hypermarkets, and others.
Based on the region, the global scented candles market report covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period for the increasing use of scented candles in aromatherapy, stress reduction, relaxation, and home decor. The US is the key contributor in the region, followed by Canada.
The global scented candles market in Europe is predicted to have significant growth over the forecast period for the increasing import and consumption of scented candles, growing popularity as a decorative accessory, and availability of different types of scented candles. Poland is the chief contributor in the market.
The global scented candles market in the APAC region will grow at the highest CAGR over the forecast period while the RoW will have sound growth.
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Leading players profiled in the global scented candles market report include Candle-lite (US), Zhong Nam Industrial (International) Co., Ltd. (Hong Kong), Empire Candle Co., LLC (US), BeCandle (Hong Kong), S.C. Johnson & Son, Inc. (US), The Yankee Candle Company (US), Brandt Kaarsen (US), Colonial Candle (US), Welburn Candles Pvt Ltd (India), Conscious Candle Company (Australia), Newell Brands (US), L Brands, Inc. (US), The Procter & Gamble Company (US), and Reckitt Benckiser Group plc (UK).
May 2020: London-based Niko Dafkos and Paul Firmin have created charity candles in three uncommon flavors- The Cinema that smells of banana pick-and-mix sweets and popcorn, The Local having scents of rose wine and cigarette smoke, and The Festival that smells of cider and cut grass.
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