Lighting up the mood and the market, the global scented candle industry is expected to reach a value of US$ 5.64 billion by 2033, fueled by a steady rise in demand at a CAGR of 4.10% since 2023. With an estimated worth of US$ 3.76 billion in 2023, the alluring fragrance of these aromatic candles is burning bright for the foreseeable future.
Scented Candle Market Burns Bright: Fueled by Wellness Trends and Social Media Glow
The global scented candle market is experiencing a delightful upsurge, fueled by a growing focus on self-care and wellness. Here’s a breakdown of the key trends driving this aromatic boom:
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- Wellness Warriors: In a post-pandemic world, people are prioritizing relaxation and mental well-being. Scented candles, offering a soothing and calming ambiance, are perfectly positioned to meet this demand.
- Urban Oasis: Especially in densely populated areas, scented candles are gaining traction as a way to create a mindful and relaxing atmosphere in living spaces, offering a welcome escape from the hustle and bustle.
- Social Media Spotlight: The rise of wellness programs and social media influencers promoting mindfulness practices like meditation and yoga is casting a positive light on scented candles, further driving market growth.
- Catering to Niche Preferences: Market leaders are responding to consumer preferences by introducing an array of captivating fragrances and calming candlelight experiences, enticing niche audiences.
Beyond Relaxation: A Multifaceted Appeal
The allure of scented candles extends beyond pure relaxation:
- Décor Delight: For those who enjoy creating a visually appealing and pleasant-smelling home environment, scented candles offer a decorative element that combines fragrance and visual flair.
- The Perfect Present: Aromatherapy in a jar! Scented candles are popular gifts for birthdays, holidays, housewarmings, or simply as a thoughtful gesture.
- Spa Haven: Scented candles are a staple in spas, wellness centers, and massage studios, setting the mood for a serene and calming client experience.
- Stress Solutions: Many people use scented candles to create a calming atmosphere, helping them de-stress and unwind. Yoga and meditation enthusiasts often incorporate scented candles into their practice to enhance the experience.
- Candle Connoisseurs: A dedicated community of candle enthusiasts and collectors appreciates the artistry and craftsmanship of scented candles, adding a niche yet significant contribution to the overall market growth.
The future of the scented candle market looks bright, with a growing focus on self-care, a thriving wellness movement, and the influence of social media trends all contributing to a fragrant and profitable future.
Besides scents, companies are focusing on enhancing their packaging designs as the visual appeal of the product plays a major role in shaping consumer preferences. Leather bag inspired box, print box packaging, and eco-friendly sustainable packaging are some packaging options offered by the manufacturers.
Key Takeaways:
- In terms of product type, container-based candles are expected to dominate the market.
- Based on the shape, sales of round scented candles will grow at a 3.4% CAGR.
- Demand for multi wick candles will increase at a 5.2% CAGR through 2032.
- Sales through online channels are projected to grow at a healthy 6.9% CAGR over the assessment period.
- The U.S. will continue dominating the North America scented candles market, driven by high demand for limited edition candles.
- Sales in the U.K. scented candles market will increase at a 3% CAGR over the forecast period.
- India will emerge as a lucrative market, with sales projected to increase at a 2.9% CAGR over the assessment period.
Competition Landscape
Leading players operating in the global scented candles market are investing in promotional strategies, advertisements, and new product launches with limited edition scents to gain a competitive edge in the market.
Key players operating in the market profiled by FMI include
- MVP Group International, Inc.
- Newell Brands
- Estee Lauder Companies
- NEST New York
- Thymes, LLC
- L Brands
- Portmeirion Group Plc
- The Yankee Candle Co. Inc.
- The White Barn Candle Co.
- The Village Candle
- Bridgewater Candles
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Scented Candles Market By Category
Product Type:
- Container Based Scented Candles
- Pillar Scented Candles
- Others
Shape:
- Round
- Flower
- Heart
- Oval
- Others
No. of Wicks:
- Single Wick
- Multi Wicks
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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