According to the study, Increasing demand for people for scented candles or handcrafted designs
is one of the primary growth factors for the market. The growing market for a home and office décor
is also expected to contribute significantly to the Luxury Candle market. Overall, applications of Luxury Candle, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The presence of players such as Candles Scandinavia (Sweden), P.f. Candle Co (United States), Boy Smell (United States), Harlem Candle Company (United States), Forvr Mood Chasing Waterfalls Candle (United States), Stoneglow Candles (United Kingdom), Candle Shack Scotland (United Kingdom), Byron Bay Candles (Australia), Maisey Candle (Australia) and AromaWorks Candle (United Kingdom) pushing strong cash flow in Market which is also a key in driving revenue growth.
AMAs Analyst on the Global Luxury Candle market identified that the demand is rising in many different parts of the world as "Increasing disposable income of population coupled with rising popularity of luxury candles in developing nations". Furthermore, some recent industry insights like "In February 2021, Harlem Candle Company launched its 22k Gold Josephine Candle, the newest addition to the luxury fragrance brand’s product line just in time for Valentine’s Day: “Josephine,” the essence of opulent amber, but in a 22-karat gold-embellished red vessel featuring the brand’s iconic logo design." is constantly making the industry dynamic. One of the challenges that industry facing is "Issues associated with petroleum-based wax and air pollution"
The report provides an in-depth analysis and forecast about the industry covering the following key features:
Detailed Overview of Luxury Candle market will help deliver clients and businesses making strategies. Influencing factors that thriving demand and latest trend running in the market What is the market concentration? Is it fragmented or highly concentrated? What trends, challenges and barriers will impact the development and sizing of Luxury Candle market SWOT Analysis of profiled players and Porter's five forces & PEST Analysis for deep insights. What growth momentum or downgrade market may carry during the forecast period? Which region may tap highest market share in coming era? What focused approach and constraints are holding the Luxury Candle market tight? Which application/end-user category or Product Type [Regular and Scented] may seek incremental growth prospects? What would be the market share of key countries like Germany, USA, France, China etc.?
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Luxury Candle market and other related sub-markets covered in the study.
o Key & emerging players in the Luxury Candle market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Luxury Candle market size is calculated using market estimation process, the Luxury Candle market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Luxury Candle market size has been validated using both top-down and bottom-up approaches.