The global Scented Candles Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global scented candles market is anticipated to reach USD 545.2 million by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 8.4% during the forecast period, 2019 to 2025. These candles are extensively used in various aroma therapies that help in reducing mental and physical stress and heal various pains. It helps in re-energizing one’s spirit by releasing mild and soothing fragrance. Premium products are made up of three layers of different fragrances.
Key Players:
- Eurazeo
- Estee Lauder
- Hyfusin Group Holdings Limited
- L Brands
- LALIQUE GROUP SA
- Manzanita Capital
- MVP Group International Inc.
- Newell Brands
- Portmeirion Group PLC
- Village Candle Inc.
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-scented-candles-market/request-sample
Growth Drivers:
The organic scented candle consists of natural essential oils in high concentration which helps in healing physical and mental stress by soothing the senses through its relaxing fragrance. Therefore, this product is extensively used in various aromatherapies. For example, the candles with lemon scent help in boosting the mood, enhancing concentration, and uplifting one’s spirit. Consumers who have been constantly using this product are benefitted from boosted immunity, improved digestion and blood circulation, reduced skin problems, and reduced problems of headache and severe migraine.
Thousands of people are including these candles in their home décor ideas to give their homes a personal touch. Pastel-colored candles add a soothing touch to the living rooms and bedrooms. They enhance the indoor environment and add charm to one’s home. Moreover, people use flowers and candles of different colors together to create a warm welcoming atmosphere. This is expected to boost the market growth over the forecast period.
Distribution Channel Outlook:
- Hypermarket & Supermarket
- Convenience Stores
In 2018, convenience stores held the largest revenue share across the global scented candles market. A growing number of convenience stores in countries such as China, Australia, Japan, and India are expected to fuel the segment growth. For instance, in China, more than 700 convenience stores are expected to be set up in major cities such as Wuhan, Beijing, Shanghai, and Xi’an in June 2019. Further, it is reported that by the end of 2020, the number of convenience stores in Xi’an would be more than 3000. The number of convenience stores in Japan is also expected to rise similarly. As of 2018, the number of convenience stores in the country is more than 50000 out of which 7000 are there in Tokyo.
The segment of online distribution channels is projected to grow at the fastest CAGR of 9.2% over the forecast period. The rising penetration of internet and eCommerce portals is driving the segment growth. Leading online retailers of scented candles include Amazon, Prosperity Candle, Candle Warehouse, Candles Scandinavia Group AB, and Nordic Nest. Key manufacturers are focusing on strengthening their distribution network across both offline and online channels.
Product Outlook:
- Container Based
- Pillars
Regional Outlook:
In 2018, North America was the largest and the most prominent market for scented candles which held a market share of over 35% owing to the rising popularity of aroma treatments and a growing number of massage parlors and spas in countries including Canada and the U.S. The scented candle market in the Asia Pacific is projected to grow at the fastest CAGR of 9.0% over the forecast period. The growth is attributed to the emerging trend of gifting these candles to friends and relatives on special occasions such as birthday parties and thanksgiving and during festivals in countries such as New Zealand, India, China, Japan, and Australia.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment