Frequently Asked Questions
The global candles market was valued at USD 12.1 Billion in 2022.
The candle market is expected to grow at a CAGR of 6.10% between 2023 and 2030, reaching USD 1,385.44 Million in 2030.
Votive is the leading segment by product, holding over 26.97% share in terms of value in 2022.
The paraffin segment governs the demand for candles worldwide, holding a massive share of over 30.40% in 2022.
The online segment is expected to post the highest CAGR during the forecast period.
North America is fueling the growth of the candles industry, with a 32.70% share in 2022.
The top players include Bath & Body Works Direct, Inc.; Better Homes & Gardens; Bridgewater Candle Company; Colonial Candle; Circle E Candles; Diptyque S.A.S.; Jo Malone London; MALIN+GOETZ; NEST Fragrances, LLC; The Yankee Candle Company, Inc.; Conscious Candle Company; Contract Candles & Diffusers Ltd.; Ellis Brooklyn; TRUDON; Le Labo.
The inclining trend toward the aesthetic value of candles and the key benefits of candles are the major market drivers.
Challenges from the high cost of the raw material and many different substitutes available in the market, which create saturation, are the major market restraints.
The opening of supermarkets and hypermarkets has made it easier for customers to purchase scented candles. All of these elements are generating profitable opportunities for scented candle sales.