Overview and Scope
A scented candle refers to a candle that burns with a pleasant aroma due to the addition of fragrant oils to the wax. It is a nice touch in a bathroom, especially when guests are over, in a bedroom, or in any room of the house. It can create an ambiance of healthfulness and well-being, which are used in aromatherapy for therapeutic purposes.
Sizing and Forecast
The scented candle market size has grown strongly in recent years. It will grow from $3.91 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to aesthetic and décor trends, wellness and stress relief, seasonal and holiday demand, gifting and personalization, evolution of fragrance preferences..
The scented candle market size is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to wellness and mindfulness practices, innovation in fragrances, seasonal and occasional demand, personalization and customization, sustainability and eco-friendly practices.. Major trends in the forecast period include holistic well-being focus, natural and botanical scents, limited edition offerings, unique fragrance combinations, therapeutic and mindfulness practices..
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Segmentation & Regional Insights
The scented candle market covered in this report is segmented –
1) By Product Type: Jar, Pillar, Tea light, Tumbler, Vase, Other Product Types
2) By Raw Material: Wax, Liquid Dyes, Soy, Glass, Other Raw Materials
3) By Fragrance: Fruit, Flower, Spice, Blends, Other Fragrances
4) By Sales Channel: Online Retails, Offline Retails
North America was the largest region in the scented candle market in 2023. The regions covered in the scented candle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Changes in lifestyle that are leading to stress and related ailments are expected to propel the scented candle market going forward. Stress refers to any form of change that creates physical, emotional, or psychological distress. The body reacts to anything that demands attention or action by causing stress. Numerous changes have occurred in people’s lives as a result of the COVID-19 epidemic, including uncertainty, altered daily schedules, financial hardships, and social isolation. These changes have raised anxiety, concern, and stress. To alleviate anxiety and despair, people are searching for ayurvedic, chemical-free techniques such as aromatherapy that uses scented candles. For instance, in January 2023, according to Champion Health Inc., a UK-based health and wellness platform that offers mental health support for employees, around 17% of individuals in the UK had some type of depression in the summer of 2021, compared to 10% before the pandemic. Anxiety is the most prevalent mental disorder, affecting 40 million individuals (19.1% of the population). , Therefore, changes in lifestyle that are leading to stress and related ailments are driving the scented candle market.
Key Industry Players
Major companies operating in the scented candle market are adopting a strategic partnership approach, aiming to launch ice-cream-inspired candles. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in June 2021, Moose Tracks Ice Cream, a US-based ice cream company, announced a partnership with Wax Poetic Candle Bar to create a distinctive smell that is excellent for ice cream fans. The vanilla-scented Moose Tracks Candle is made with Michigan-sourced materials, with traces of peanut butter cups and the iconic Moose Tracks Fudge. It is similar to the original Moose Tracks flavor, which is vanilla ice cream with peanut butter cups and fudge. Fans may create an ice cream paradise with the candle’s organic cotton wick, which has a 70-hour burn duration. Wax Poetic Candle Bar is a US-based home goods store.
The scented candle market report table of contents includes:
1. Executive Summary
2. Scented Candle Market Characteristics
3. Scented Candle Market Trends And Strategies
4. Scented Candle Market – Macro Economic Scenario
5. Global Scented Candle Market Size and Growth
…..
31. Global Scented Candle Market Competitive Benchmarking
32. Global Scented Candle Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Scented Candle Market
34. Scented Candle Market Future Outlook and Potential Analysis
35. Appendix
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