Global Candle Market Report and Forecast 2024-2032

Global Candle Market Size

The global candle industry reached nearly USD 8.33 billion in 2023. It is estimated to grow at a CAGR of 2.7% during 2024-2032 to reach a value of USD 10.61 billion by 2032.

Candle Market Outlook

• The European region accounts for about two-thirds of the total global candle imports.

• Scented candles are increasingly being preferred for enhancing the aesthetic appeal and ambience of an environment, which aids the candle market value.

• There is a growing preference for candles made from natural waxes like soy or beeswax, reflecting a broader interest in sustainability and health-conscious living.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Candle Market Growth

Consumers are becoming more conscious of scents and fragrances, which is boosting the demand for candles with diverse types of fragrances. The global candle market growth can be attributed to the increasing demand for scented candles, sustainable products, and candles used during celebrations and the holiday season. For instance, Votive candles, which are commonly used for decorative purposes in homes, restaurants, and event spaces, are a distinct and popular category within the market, characterised by their specific design and use.

Buyers assume a wide significance to candle fragrance, and the fragrance of a candle significantly influences a buyer’s purchase decision. Hence, candles are extensively purchased from brick-and-mortar stores so that customers can better understand the product.

Key Trends and Recent Developments

Increasing inclination towards sustainable candles; growing demand for scented candles; rising preference for luxury products; and increasing launches of new varieties of candles are the major factors impacting the market.

Nov 15, 2022

Rosemoore launched its new range of cruelty-free and eco-friendly botanical candles in aromas like Beachy Drift and Zesty lemon which can aid growth of the candle market. It also introduced a spicy variant made from spicy and warm notes of bay leaves, cinnamon, and black peppercorns.

Nov 15, 2022

The Yankee Candle Company, Inc., announced the opening of limited-time pop-up shops amid the holiday season at six locations in the United States, namely, The SoNo Collection, The Shoppes at Farmington Valley, Williamsburg Premium Outlets, Mayfair, Park Meadows, and Glendale Galleria.

Oct 19, 2022

AnyMind Group announced that Shefar, a Japanese direct-to-customer fragrance brand, was launching a scented candle product line including Liela and Mullan candles. The candles, inspired by the brand’s theme of “the girl of your dreams”, offer excellent fragrance while achieving low soot emission and high combustion efficiency that can aid candle market expansion.

Mar 24, 2022

VedaOils, a supplier of raw ingredients and essential oils, released a new range of Candle-Making supplies including a diverse range of waxes, jars, wicks, moulds, wick-holders, and colours. The candle-making supplies were aimed at enabling small businesses and hobbyist candle-makers conveniently source ingredients that are free of added chemicals.

Rising Demand for Sustainable Candles

As per the candle market analysis, rising consumer demand for sustainable products has increased the utilisation of candles made with coconut wax, beeswax, rapeseed wax and soy wax, as they are renewable and eco-friendly.

Growing Demand for Scented Candles

Scented candles are in high demand as they help promote relaxation and a sense of well-being among consumers. Further, they serve as decorative items and are popular as gifts.

Inclination towards luxury candles

Several premium brands in the candle industry witnessed increased consumer spending in the luxury segment, enhancing their interest in the luxury home fragrance category.

Introduction of new varieties of candles

With fragrance being an important factor in candle purchase, manufacturers are innovating their offerings to provide unique scents like tomato, whiskey, leather, and tobacco, among others, to appeal to a larger customer base.

Global Candle Market Trends

As candles are known to elevate the mood, relieve stress, and produce a calming effect, their usage at home and office settings is rising to promote the feel-good factor, further improving their aesthetics and ambience.

Candle making is a crucial trend in candle market which is gaining popularity among beginners or small-scale business owners, as the initial costs of setting up the business are low. Candle manufacturing is a simple process and eliminates the use of heavy machinery. Start-ups can also invest in building cost-effective e-commerce websites to increase customer engagement.

Industry Outlook

According to UN Comtrade, in 2018, intra-EU imports of candles were notably high at EUR 1.203 million, with developing countries contributing EUR 338 million and the rest of the world contributing EUR 116 million. By 2019, intra-EU imports had decreased slightly to EUR 1.190 million, while imports from developing countries increased to EUR 371 million, while the rest of the world contributed to EUR 103 million. As per the candle industry analysis, this trend of increasing imports from developing countries continued, with a slight decrease in intra-EU imports noted in 2020, standing at EUR 1.297 million compared to EUR 341 million from developing countries. In 2021, a substantial increase in imports from all regions was observed. Intra-EU imports rose sharply to EUR 1.627 million, and developing countries also saw a significant rise to EUR 507 million. In 2021, imports from the rest of the world again saw a rise, reaching EUR 134 million which increased the candle industry revenue. By 2022, the growth trend continued robustly with intra-EU imports peaking at EUR 1.747 million and imports from developing countries reaching their highest at EU 656 million. However, imports from the rest of the world experienced a slight decrease, settling at EUR 104 million.

Essential oils are the key raw materials for producing scented candles. The increasing importance of wellbeing and personal care is contributing to an increased adoption of scented candles and fuelling growth of the candle industry. According to OEC, in 2022, India positioned itself as the top exporter of essential oils holding a share of 15.4%. Following India, China and the United States also hold substantial shares, with 7.12% and 12.1%, respectively, reflecting their strong positions in the global market. Other notable contributors include Brazil with 7.43% and France with 7.42%, both almost equally contributing and showcasing their relevance in the essential oils sector. Germany, Italy, and Spain represent the European sector with shares of 4.39%, 3.13%, and 2.83%, respectively.

Rising Trend of Aromatherapy and Self Care is Contributing to the Success of the Global Market

• The candle market offers a wide array of products, including scented, decorative, and specialty candles, catering to various consumer preferences.

• Candles are increasingly used for aromatherapy and as home decor items, driving steady candle demand forecast.

• Relatively low startup and operational costs make it easier for new businesses to enter the market.

• Candles see a surge in sales during holidays and festive seasons, bolstering revenues for manufacturers and retailers.

Raw Material Price Fluctuations Can Negatively Impact the Global Candle Market Share?

• The cost of raw materials like wax, wicks, and fragrances can fluctuate, impacting profit margins.

• Paraffin candles release potentially harmful chemicals when burned, which can deter health-conscious consumers.

• The market is highly competitive, with numerous small and large players, which can limit individual company growth and profitability.

• There's a perceived limit to how much innovation can be applied to candles, potentially stalling long-term market growth.

Expansion of E-commerce Shaping the Global Market

• There's a growing market for candles made from natural and sustainable materials, appealing to environmentally conscious consumers.

• Increasing disposable incomes in emerging markets provide new growth avenues for candle sales and fuel candle demand growth.

• Expanding sales channels through e-commerce can reach a broader audience, enhancing market penetration.
• Collaborating with designers, artists, or celebrities to create unique, limited-edition products can attract new customers and generate buzz.

Growing Availability of Alternatives Posing Threat to the Global Market

• Economic instability can reduce consumer spending on non-essential goods like candles.

• Increased regulation around safety standards for candles could increase production costs and impact market entry.

• As per the candle market dynamics and trends, the increasing popularity of electric candles and essential oil diffusers poses a threat as safer and cleaner alternatives.

• With many players in the market, there is a risk of saturation, making it challenging for businesses to maintain their market share.

Key Price Indicators in Global Market

• The prices of wax, wicks, scents, and dyes largely dictate the production costs and pricing strategies for candles.

• Specialty candles, such as those with intricate designs or multiple scents, often carry higher prices due to more complex manufacturing processes.

• Premium brands can command higher prices based on perceived value, quality, and brand reputation and can aid candle demand.

• Prices can vary significantly based on the retail channel; luxury boutiques may price candles higher than online or mass-market stores.

• General economic conditions influence consumer spending power and willingness to pay for non-essential items like decorative or luxury candles.

Key Demand Indicators in Global Market

• Increasing interest in home decoration and ambiance enhancement drives demand for decorative and scented candles.

• Demand spikes during holidays and festive seasons as candles are popular for both personal use and as gifts.

• Growing consumer interest in wellness and aromatherapy supports the demand for scented and therapeutic candles and offers lucrative candle market opportunities.

• Economic stability and consumer disposable income levels significantly influence spending on non-essential items like candles.

• Shifts towards eco-friendly and natural products can increase demand for candles made from soy, beeswax, or recycled materials.

What Major Factors Are Influencing the Competitive Landscape of the Global Market?

• Companies that regularly introduce new scents, designs, and features can capture and maintain market interest.

• Brands that successfully differentiate themselves through unique selling propositions, such as eco-friendliness or luxury packaging, have a competitive edge and can boost the candle market revenue.

• Efficient supply chains that reduce costs and ensure timely delivery can provide a significant advantage in a competitive market.

• Competitive pricing can attract price-sensitive consumers, while premium pricing strategies may appeal to luxury-oriented customers.

• Effective marketing campaigns and promotional strategies increase brand visibility and consumer engagement.

• Strong relationships with retailers, both in physical stores and online, expand market reach and consumer access.

• Companies that quickly adapt to changing consumer preferences, such as increased demand for natural or sustainable products, can stay ahead in the market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Candle Industry Segmentations

“Global Candle Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Cartridge Candle

• Tea Lights

• Birthday Candle

• Pillars

• Votive

• Wax Filled Container Candles

• Others

Market Breakup by Raw Material

• Paraffin Wax

• Stearin

• Soy Wax

• Beeswax

• Palm Wax

• Others 

Market Breakup by Distribution Channel

• Offline

• Online

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Based on raw material, paraffin wax dominates the global market share

Paraffin wax, also known as straight wax, is the most commonly used material as it does not contain additives and is colourless and odourless. It is reasonably priced and used to create a range of candles, including pillars, containers, votives, tealights, tapers, and tarts.

As per the analysis of candle market, the addition of stearin offers several advantages including hardening of wax, giving candles a durable exterior casing that improves the rigidity of candles, and also prevents them from slumping.

Furthermore, due to increase in concerns regarding pollution and sustainability, beeswax candles are emerging as a suitable option for producing natural, non-toxic, homemade candles. Customers who seek eco-friendly products are demanding candles that are cruelty-free and created from sustainable sources like beeswax.

Based on product type, cartridge candles account for a significant share of the global candle market

Cartridge candles have been extensively used for security and emergencies as they are cost-effective, available in various sizes, heights, and colours, and provide lighting for up to 90 hours.

However, there has been a growing availability of diverse types of candles including birthday candles which fuels the demand of candle market. Birthday candles range from sparklers and glitter-dipped styles to colourful ombré candles, which has increased their use to elevate cakes, brownies, pancakes, and doughnuts, among others.

Further, wax-filled container candles are safe to use, convenient, and easy to relocate, further eliminating the issue of wax dripping.

Competitive Landscape

Manufacturers are upgrading their product portfolios and incorporating the latest capabilities to innovate their offerings and meet the evolving demands of consumers.

Candle Delirium, Inc.

Headquartered in the United States, the company is a global leader in the candle market offering a variety of candles including Archipelago candles, Voluspa candles, Aquiesse candles, Nest candles, and high-end candles.

Bath and Body Works, Inc.

Bath and Body Works, Inc, headquartered in the United States, deals in multiple verticals including body care, candles, wallflowers and air fresheners, hand soaps and sanitizers, and others.

Empire Candle Company, LLC

Established in 1951, Empire Candle Company, LLC is a global manufacturer of candles, wax melts, and home fragrance accessories and is known for making quality, valuable, and reliable products.

MVP Group International, Inc

With headquarters in the United States, MVP Group International, Inc is one of the global leaders in candle production offering scented candles, among other varieties.

Other notable players operating in the candle market are Armadilla Wax Works, Inc., and S.C. Johnson and Son, Inc, among others.

Candle Market Regional Analysis

Luxury candles have become one of the most well-liked home gifting items in North America; they are seen as suitable gifting options for important occasions like weddings, birthdays, and Christmas, for scent appeal and home décor purposes.

In 2022, about EUR 2,331 million worth of candles were imported by the EU members, representing an increase of 32% from 2021 in the EU candle market. European customers have been incorporating spa and yoga routines into their lifestyles to improve mental and spiritual wellness. As candles play an important role in these health and happiness practices owing to their calming, relaxing, or stimulating effects, their usage in bathrooms, and bedrooms, among other locations in home settings has increased.

Figure: European Imports of Candles

Further, demand for traditional Japanese candles has been increasing, as these candles utilise wax from Japanese wax trees and lacquer trees which makes them organic with a unique ability to gently illuminate Buddhist statues in a way that Western candles cannot. The candles are made using a unique traditional "tegake" technique that involves repeatedly applying wax around the candlewick with bare hands.

Key Highlights of the Report

Candle Market Report Snapshots

Candle Market Size

Candle Market Trends

Candle Companies

Candle Market Regional Analysis