According to the report by Expert Market Research (EMR), the global scented candles market price reached a value of more than USD 571.43 million in 2022. Aided by the escalating demand for home décor products and the development of therapeutic properties and innovative scents, the market is projected to further grow at a CAGR of 3.80% between 2023 and 2028 to grow significantly by 2028.
Scented candles are generally made from wax with essential oils and aroma compounds, and they are extensively used to create an aromatic environment in homes, offices, and other places. They play a crucial role in mood enhancement, stress relief, and overall wellness. Apart from their fragrance properties, scented candles also possess excellent aesthetic value, making them an essential component in home décor and gifting.
The increasing consumer preference for aromatic and luxury home décor products is driving the global scented candles market growth. With the growing consciousness of the advantages linked to aroma and ambiance enhancement, there has been a substantial shift towards products like scented candles, leading to an increase in demand. Additionally, the rising trend of self-care and wellness has further added to the increasing popularity of scented candles, as they are widely used in therapies and relaxation techniques.
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The expanding applications of scented candles in various industries also play a significant role in propelling the scented candles market development. In the hospitality industry, scented candles are used to create a warm and inviting atmosphere for guests. The event management industry utilises scented candles for their aesthetic appeal, which is fundamental in the setup of various events and functions. Furthermore, scented candles’ relaxing properties make them a key component in the spa and wellness industry, thus increasing the scented candles market demand.
Moreover, the escalating demand for personalised and artisanal products in the home décor industry has led to an increased emphasis on scented candles as an important element for interior enhancement. With the rise of online retail and the increasing popularity of home improvement trends, scented candles have emerged as a pivotal component in the formulation of an aesthetically pleasing and aromatic environment, thereby stimulating the scented candles market expansion.
Market Segmentation
The market can be divided based on raw material, product, distribution channel, and region.
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Market Breakup by Raw Material
• Paraffin Wax
• Soy Wax
• Beeswax
• Others
Market Breakup by Product
• Container Based
• Pillar
• Others
Market Breakup by Distribution Channel
• Supermarkets and Hypermarkets
• Convenience Stores
• Online
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global scented candles companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Bougie et Senteur
• Portmeirion Group PLC (Wax Lyrical Ltd.)
• MVP Group International, Inc.
• Hem Corporation
• Wiera Natural OÜ
• Lalique Group SA
• GALA GROUP GMBH
• Stoneglow Candles
• Contract Candles & Diffusers Ltd
• F-Zero Candle Factory
• Others
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