The global scented candle market is projected to grow from USD 3.76 billion in 2023 to an impressive USD 5.64 billion by 2033, reflecting a healthy Compound Annual Growth Rate (CAGR) of 4.10% during the forecast period. This growth is largely attributed to the increasing global demand for wellness products and the growing focus on self-care, relaxation, and mindfulness practices.
Key Market Drivers
The post-pandemic surge in demand for products that promote well-being has accelerated the popularity of scented candles worldwide. As consumers prioritize mental health and stress relief, scented candles have become an essential part of self-care rituals. These aromatic candles offer a soothing, calming atmosphere that has gained traction, especially in urban areas where individuals seek mindfulness and relaxation.
In addition, the influence of wellness programs, yoga, and meditation practices—boosted by social media influencers—has further catalyzed the demand for scented candles. This growing interest in mental well-being and mindfulness is expected to continue fueling market growth over the next decade.
Consumption Trends
Scented candles are becoming a staple in home décor, with consumers incorporating them to create a calming environment. Popular occasions for purchasing these candles include birthdays, holidays, housewarmings, and as gifts for various celebrations. Additionally, wellness centers, spas, and massage therapy studios frequently utilize scented candles to enhance the sensory experience for their clients.
Category-wise Insights
- Container-based Candles: Dominating the market, container-based candles are preferred for their convenience and longer burn time. Offering a pre-contained wax and wick, these candles are easy to use and cater to the growing demand for hassle-free aromatic experiences. They are projected to hold 56.60% of the market share.
- Round Scented Candles: Round-shaped candles are leading the market, accounting for 56.30% of revenue. Their symmetrical design and even fragrance distribution have made them a popular choice among consumers.
Regional Insights
- China: The Chinese scented candle market is set to expand significantly, with a forecasted growth rate of 7.80% from 2023 to 2033. Increasing disposable incomes, alongside the rising popularity of wellness activities like yoga, are driving this growth.
- Japan: The market in Japan is anticipated to grow at a 6.20% CAGR, fueled by the increasing adoption of aromatherapy practices, which utilize scented candles for their therapeutic properties.
- Singapore: E-commerce is propelling the scented candle market in Singapore, with a growth rate of 4.80%. Online shopping platforms have made it easier for consumers to access a variety of scented candles from international and local brands.
- Australia: Australia’s scented candle market is set to grow by 4.50%, driven by the ongoing trend of sophisticated home décor and creating cozy living spaces.
- Germany: The concept of hygge, which emphasizes coziness and comfort, is fueling scented candle sales in Germany, where the market is expected to grow by 4.40%.
Competitive Landscape
The competitive landscape of the scented candle market is still emerging, with limited presence from global players in rural areas of developing and underdeveloped nations. The market remains largely untapped, as only a few international brands cater to a niche audience. This creates significant opportunities for new entrants and innovative local businesses to establish themselves and capture a substantial market share.
Recent Developments
- In March 2023, Yankee Candle launched a new line of scented candles made with sustainable soy wax. The line features a variety of scents, including lavender, vanilla, and citrus.
- In February 2023, Bath & Body Works launched a new line of scented candles inspired by aromatherapy. The line features scents such as eucalyptus, peppermint, and lavender.
- In January 2023, Diptyque launched a new line of scented candles inspired by nature. The line features pine needles, fig leaves, and jasmine.
Key Companies in the Scented Candle Market
- 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 Candle Market By Category
By Product Type:
- Container-Based Scented Candles
- Pillar Scented Candles
- Others
By Consumer Orientation:
- Male
- Female
By Shape:
- Round
- Flower
- Heart
- Oval
- Others
By Number of Wicks:
- Single Wick
- Multi Wicks
By Sales Channel:
- Hypermarkets / Supermarkets
- Specialty Stores
- Independent Departmental Stores
- Convenience Stores
- Online Retailers
- Wholesalers & Distributors
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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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 over 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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