Scope of the Study
Traditionally candles were used as the only source of light. But, in this era, candles have been creating different value in the field of decoration. Increasing demand for candles due to the increasing demand for good appearance and fragrance products. Additionally, increasing adoption of colorful candles in home décor and the availability of a variety of designed candles with robust distribution channels have been fuelling the growth of the market. However, the presence of alternative such as electronic or other fossil fuel-based light sources and volatile raw material prices in manufacturing candles are the reasons that are hampering the overall growth of the market. Moreover, established key players are developing new candles with attractive shapes and sizes, this can create a big opportunity for the market in the forecasted year.
The market study is being classified by Type (Pillar Candles, Floating Candles, Votive Candles, Tapers, Filled Candles, Tealight Candles, Gel Candles, Specialty Candles, Liquid Candles and Other) and major geographies with country level break-up. According to AMA, the Global Candles market is expected to see growth rate of 5.44% and may see market size of USD11.01 Billion by 2024.
Korona Candles S.A. (Poland), Yankee Candle Company, Inc. (United States), Vila Hermanos Cerería Sa (Spain), Suomen Kerta Oy (Finland), Balthasar + Co. AG / Mislin + Balthasar AG (Switzerland), Cereria Pernici SRL (Italy), Delsbo Candles AB (Sweden), Gies Kerzen Gmbh (Germany), Gala-Kerzen Gmbh (Germany) and Bolsius International BV (Netherlands) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Vollmar GmbH (Germany), Baltic Candles Ltd (Latvia), Duni AB (Sweden), Hansa Candle AS (Estonia) and Sc Johnson & Son, Inc. (United States).
The Vendors having a strong hold in the market are Korona Candles, Yankee Candle Company, Vila Hermanos Cerería, Suomen Kerta, and Balthasar. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Candles market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Candles market by Type, Application and Region.
On the basis of geography, the market of Candles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Spain, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Specialty or Gift Shops will boost the Candles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Beeswax will boost the Candles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Adoption of Colourfull Candles in Home Decor
- Availability of Variety of Designed Candles with Robust Distribution Channels
- Increasing Adoption of Candles in Aromatherapy such as Relaxation and Stress Reduction
- Availability of Discounted Candle Products on E-Commerce Websites
- Reduced Paraffin Production will Maximise the Candle Prices
- Volatile Raw Material Prices in Manufacturing Candles
- Customized Candle Shapes will further increase Consumer Satisfaction
- Rising Department, Mass Merchandise Retailers, and Home Decor Stores.
- Threat of Substitutes like Electronic or other Fossil Fuel Based Light Sources
- Strong Competitive Rivalry amongst the Key Players and the Emergence of Local Manufacturers
Market Leaders and their expansionary development strategies
On 27th April 2018, a leading manufacturer of candles backed by Equistone Partners Europe (“Equistone”) 'GALA Kerzen', has acquired a leading manufacturer of private label and candle products 'Korona Candles S.A.'. With the acquisition of Korona, GALA Kerzen is further expanding its product range, growing its international presence, and establishing itself as a leading global candle manufacturer following the recent additions of Indian company Ramesh Flowers and Berlin-based JewelCandle to the group.
The current law that applies to the overall safety of goods is The General Product Safety Regulations 2005 (GPSR for short). There aren’t any specific laws that relate to just candles, but there are some ‘European standards’ which give clear guidance on candle safety and are recommended to adhere to as they demonstrate ‘due diligence’ under the GPSR.
Key Target AudienceCandle Manufacturers, Candle DIstributors and Traders, Candle Upstream and Downstream Buyers, Government Agencies, Consumer Safety and Protection Regulators, Home Appliance Industry Associations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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