Candles Market Overview:
The MRFR report suggests that the global candles market is likely to register a healthy CAGR of over 4.26% during the review timeframe. It further states that the market is projected to acquire a size of USD 13,006.9 Million by 2023.
Candles are essentials for every house. Electricity-saving ideas and power blackouts ask for the use of candles. The global Candles Market has recorded massive growth in recent years. The market's growth is primarily being driven by the speedy growth in candle application amongst the bigger group of people worldwide. Furthermore, the commercial application of the candles across massage parlours and spas across the globe is also likely to catalyse the market's growth over the coming years. However, the growth of the candles market is likely to be restricted by the competition from unorganized sectors and volatility of raw materials prices.
Candles Market Segment Analysis:
The global candles market has been fragmented into numerous segments based on category, material, distribution channel, and region.
The candle market has been split into economical and luxury candles based on category.
By material, the global market for candles is split into animal wax, synthetic wax, vegetable wax, and paraffin wax.
The global candle market is divided into non-store-based and store-based based on distribution channels.
The global Biggest Candles market has a strong and competitive landscape. The players in the market are adopting several new policies and plan to grow their global market presence. The growing demand for scented candles worldwide will likely encourage market players to launch new and innovative products with a range of fragrances over the coming years. The list of leading players in the global candles market includes NEST, Inc., Armadilla Wax Works, The Yankee Candle Company, Inc., SC Johnson Son, Inc., Empire Candle, Dianne's Custom Candles, Bath Body Works Direct, Inc., Colonial Candle, BeCandle, Dandong Evelight Candle Industry Co. Ltd., Candle-lite, ZHONG Nam Industrial (International) Co. Ltd, and many others.
The global Target Market for Candles is studied across five major regions: North America, South America, Asia-Pacific, Europe, and the Middle East Africa.
As per the MRFR report, the global market for candles is likely to be led by the North American region over the projected timeframe. The presence of high per capita income across the region is the primary cause behind the upsurge in the regional market's growth.
The European region will likely acquire a substantially larger market size by the end of the forecasted era.
The candles market for the Asia-Pacific region is anticipated to register the highest growth rate over the assessment timeframe. The regional market's growth is being driven by the growing adoption of western culture and the rise in the per capita income across the region.
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