Scented Candles Market size is set to grow by USD 637.6 million from 2024-2028, Increasing investment in household interiors to boost the market growth, Technavio

NEW YORK, July 17, 2024 /PRNewswire/ — The global scented candles market size is estimated to grow by USD 637.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 2.87% during the forecast period. Increasing investment in household interiors is driving market growth, with a trend towards increasing emergence of customized home fragrance candles. However, stiff competition from unorganized sector poses a challenge. Key market players include Archipelago, Bolsius International BV, Conscious Candle Co., Curio Brands LLC, Diptyque Distribution LLC, GALA GROUP GMBH, Godrej Consumer Products Ltd., House of Em5, Lalique Group SA, NEST Fragrances, Newell Brands Inc., Paddywax LLC, Prolitec, Reckitt Benckiser Group Plc, S.C. Johnson and Son Inc., ScentAir Technologies LLC, Seda France, The Bridgewater Candle Co., The Procter and Gamble Co., and Welburn.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Key Market Trends Fueling Growth

The scented candles market is experiencing a trend towards customization, allowing buyers to design candles according to their unique preferences. Vendors offer options for selecting shapes, sizes, colors, textures, and fragrances for various occasions. This customization strategy enables manufacturers to expand their product offerings and cater to diverse consumer needs, resulting in increased sales and competition. For instance, Yankee Candle, a subsidiary of Newell Brands Inc., empowers customers to choose fragrances and personalize containers with photos or quotes. This approach enhances the buying experience by allowing customers to add a personal touch and boosts sales as customized candles make ideal gifts. The growing demand for personalized scented candles is expected to fuel market growth during the forecast period. 

The scented candles market is experiencing significant growth, with key sectors including hotels, restaurants, wellness facilities, religious institutions, home renovation, and home decoration. Sculpture, organically shaped, twisted candles are trending, offering unique fragrance options for consumers. Millennials prefer natural waxes like soy, beeswax, and blended waxes, while paraffin wax remains popular in mass-produced candles. Retail outlets, department stores, online marketplaces, and offline channels are major sales channels. Essential oils and aromatherapy are driving the market, with brands like Selfridges, Diptyque, and convenience stores stocking various fragrance blends. Wax types include paraffin wax, hydrogenated palm oil, and soy wax, with wick options of fiber and cotton. Fragrance blends come in various containers like jar, vase, tumbler, and pillar, and include fruit, flower, spice, and tea light candles. Liquid dyes are used for coloring the wax. 

Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here!

Market Challenges

The global scented candles market consists of two main sectors: organized and unorganized. The organized sector comprises large retailers and manufacturers who adhere to regulations and have necessary permits. Conversely, the unorganized sector includes small retailers and manufacturers without government registration. This fragmented market structure allows for easy entry, resulting in a high number of sub-standard or duplicate products. Consumers often struggle to distinguish between authentic and imitation candles, hurting the profitability of established vendors. Major players face intense competition from unorganized players offering non-standardized, low-priced products, forcing them to lower prices and impacting their profit margins and sales volume. This situation may hinder the market’s growth during the forecast period.The scented candles market faces several challenges. Fiber wicks can cause unwanted blackened rims in mass-produced candles, affecting their aesthetic appeal. Retail outlets and department stores struggle to differentiate themselves from online marketplaces, where price competition is intense. Essential oils, key ingredients for aromatherapy candles, can be costly. Brands like Selfridges and Diptyque differentiate themselves with premium offerings, but face competition from convenience stores and offline channels. The Paraffin wax segment uses hydrogenated palm oil, raising concerns over sustainability and health risks. Soy Wax, a popular alternative, is blended with various natural ingredients like beeswax, but can be more expensive. Containers come in various forms – jar, tumbler, vase, and more, while fragrance infusion methods include liquid dyes and scented oil candles. Brands must ensure their candles are eco-friendly, non-toxic, and made from artisanal materials to cater to evolving consumer preferences. Aromatherapies and candle massages offer additional revenue streams. The home decor market, including household interiors, presents significant growth opportunities.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This scented candles market report extensively covers market segmentation by

Distribution Channel1.1 Offline1.2 OnlineProduct 2.1 Container based2.2 Pillars2.3 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Offline- The offline distribution channel for scented candles generates revenue from various retail formats such as specialty stores, hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores. However, the preference for online shopping has led to a decline in offline sales. To boost sales, vendors are expanding their stores in local and regional markets. Retailers are also adopting new strategies like wider assortments, pricing, and retail formats to stay competitive. The declining offline trend has encouraged major retailers to adopt the online-to-offline (O2O) business model, offering benefits like in-store pickup and returns. These strategies aim to increase market shares and consumer base, contributing to the growth of the offline segment in the global scented candles market.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Learn and explore more about Technavio’s in-depth research reports

The global candle market is witnessing steady growth driven by rising demand for home décor and aromatherapy products. With increasing consumer preference for eco-friendly and sustainable options, natural wax candles are gaining popularity. Key trends include customizable and luxury candles, targeting niche markets. North America and Europe dominate consumption, fueled by urbanization and lifestyle changes. Innovations in fragrance blends and decorative designs further propel market expansion. As sustainability concerns grow, manufacturers are focusing on renewable materials and cleaner production processes to meet evolving consumer expectations.

Research Analysis

The scented candles market is experiencing significant growth due to increasing demand from various sectors including hotels, restaurants, wellness facilities, and religious institutions. Scented candles are also popular in home renovation and decoration projects. Sculpture candles and organically shaped candles are gaining popularity for their unique designs. Spas and wellness centers use scented candles for aromatherapy and relaxation. The market caters to different segments such as Paraffin wax, hydrogenated palm oil, soy wax, blended, beeswax, and others. Containers for scented candles come in various forms like pillar, jar, tea light, tumbler, vase, and more. Liquid dyes are used to color the wax, and scents can be derived from fruits, flowers, spices, and blends. Brands like Diptyque offer high-end, luxury scented candles, while convenience stores and offline channels cater to mass-market demand. Scented candles are available in various forms such as twisted candles, container-based, and pillar candles. The market offers a wide range of scents, from classic fragrances like rose and lavender to more exotic blends like jasmine and sandalwood. Overall, the scented candles market is a growing and diverse industry that caters to various consumer preferences and needs.

Market Research Overview

The scented candles market is a thriving industry, catering to various sectors including hotels, restaurants, wellness facilities, religious institutions, home renovation, and home decoration. Sculpture, organically shaped, twisted, and blended candles are popular choices, available in a wide range of fragrance options. Millennials show a strong preference for eco-friendly candles made from natural waxes like soy, beeswax, and paraffin alternatives. Retail outlets, department stores, online marketplaces, and convenience stores are key channels for sales. Essential oils and aromatherapy are integral to the market, with brands like Selfridges and Diptyque leading the premium segment. Wax types include paraffin, hydrogenated palm oil, soy, and blended, while wicks are made from fiber. The market offers a vast array of container types, from jar and vase to pillar and tealight, with liquid dyes used for coloring. Non-toxic, organic scented candles, candle massages, and aromatherapies are gaining popularity in household interiors and the home decor market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Distribution ChannelOfflineOnlineProductContainer BasedPillarsOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/scented-candles-market-size-is-set-to-grow-by-usd-637-6-million-from-2024-2028–increasing-investment-in-household-interiors-to-boost-the-market-growth-technavio-302198320.html

SOURCE Technavio