NEW YORK , June 13, 2022 /PRNewswire/ -- The global scented candles market is growing at a CAGR of 6.97% and is expected to register an incremental growth of USD 1.46 billion between 2020 and 2025. The report analyses the market size, growth, and provides accurate predictions on the growth of the market.
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Key Segments
The scented candles market is segmented by distribution channel (offline and online).
Based on the distribution channel, the offline segment had a significant share of the market in 2021. However, the revenue generated from the offline distribution channel segment has been declining due to the increasing preference for online shopping. Hence, vendors are adopting the online-to-offline (O2O) business strategy to enhance sales from offline distribution channels and simultaneously promote a digital experience. The adoption of such strategies is helping vendors increase their market shares and expand the consumer base.
Regional Growth Analysis
The global scented candles market is analyzed across five regions — North America, Europe, APAC, South America, and MEA.
APAC is currently the dominating region, occupying 34% of the global market share. The growth of the scented candles market in APAC can be attributed to increasing consumer spending on aesthetic home fragrances such as scented candles in the region. China will emerge as the key market for scented candles in APAC. The market will observe a faster growth in APAC than in other regions.
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Market Dynamics
The scented candles market is expected to witness substantial growth during the forecast period, primarily due to the increasing investment in household interiors. Globally, consumer spending on household interiors is increasing significantly. For instance, the global consumer expenditure on household interiors grew at a CAGR of more than 5% between 2012 and 2017. Besides, the number of new residential construction activities across the globe is steadily increasing owing to growing disposable incomes, rapid industrialization, rising urbanization, and increasing employment opportunities. All these factors are increasing the demand for a wide range of interior decorative products, including scented candles, which is driving the growth of the market in focus.
The report also covers information on the upcoming trends and challenges that will influence the market growth. Explore additional information by Downloading a Sample Report.
Vendor Landscape
The scented candles market is fragmented due to the presence of several vendors and a few well-established players. Vendors are adopting several growth strategies such as new and innovative product launches and mergers and acquisitions to remain competitive in the market.
Here are some of the products offered by key vendors:
Bolsius International BV: The company offers a wide range of scented candles such as True Scents fragranced glasses small, True Scents fragrance maxilights, and others.
Bridgewater Candle Co.: The company offers a wide range of scented candles such as Jar Candle Sweet Grace, Jar Candles Orange, and others.
Diptyque SAS: The company offers a wide range of scented candles such as Limited-Edition Pine Tree candle, Limited-Edition Holiday pastry candle, and others.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the scented candles market report:
Regional Analysis
Market Player Information
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Scented Candles Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.97% |
Market growth 2021-2025 |
USD 1.46 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.36 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, China, UK, France, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bolsius International BV, Bridgewater Candle Co., Diptyque SAS, Godrej Consumer Products Ltd., Nest Fragrances LLC, Newell Brands Inc., Reckitt Benckiser Group Plc, S. C. Johnson and Son Inc., ScentAir Technologies LLC, and The Procter and Gamble Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Technavio
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