The Global Scented Candles Market size is expected to reach $645. 7 Million by 2026, rising at a market growth of 11. 8% CAGR during the forecast period. A scented candle is made up of a blend of natural or synthetic scented.
New York, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Scented Candles Market By Distribution Channel, By Product, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06021899/?utm_source=GNW
They are used for home decor, aromatherapy, and have other properties like stress relief. The scented candles are available in many shapes, sizes, designs, and fragrances.
The market of the scented candles is largely driven by increasing awareness about the application of the product in several types of candle massages and aromatherapies. Scented candles are widely used in these therapeutic procedures as they create a relaxing ambiance that helps in achieving a calm and meditative state of mind. The use of essential oils in scented candles to impart fragrance make them helpful in soothing the brain and senses, and also re-energizing one’s spirit. Moreover, each fragrance has unique therapeutic importance, thus there is increased demand for customized scented candles used in therapeutics and to accomplish relaxation in an explicit health state.
The global scented candle market is expected to be propelled by several factors. The growth of the scented candles market is attributed to increasing use as a home care product. Also, the increasing disposable incomes of consumers have resulted in the increased spending behavior of the consumer. Consumers are ready to spend more on home furnishings that in turn are expected to boost the demand for scented candles. Nowadays, scented candles are widely applied in aromatherapy. The increasing use of eco-friendly candles for home decoration is expected to drive the scented candle market across the globe. Whereas, more investment in household interiors and swiftly growing home decor market, will bring new opportunities that result in the growth of the scented candle market in the above-mentioned forecast period.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Convenience Stores, Hypermarkets & Supermarkets and Online. The convenience stores segment has the largest revenue share of the market in 2019. This is accredited to the presence of a large number of convenience stores in China, Japan and India. It was reported that there will be the opening of more than 700 new convenience stores in various cities of China including Xi’an, Wuhan, Beijing, and Shanghai.
Based on Product, the market is segmented into Container based, Pillars and Other Products. The container-based segment had a significant revenue share in the global scented candle market in 2019. These candles are easily available in the market and have high demand as a candle holder or stand are not required for these container-based scented candles and thus, offer convenience to the users. These candles burn better than other scented candles because the liquid wax remains in the container only that can be ignited later, so there is zero wastage of wax.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America had generated the highest global market revenue. The region is expected to maintain its dominance in the market over the forecast period due to the increasing number of spa and massage parlors in Canada and the U.S. Asia Pacific is likely to be the fastest-growing market in the coming years. The trend is shifting towards gifting scented candles on festivals and celebratory occasions in countries like China, Japan, Thailand, India and Australia is likely to boost the market for scented candles in the coming years.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Estee Lauder Companies, Inc., Lalique Group SA, Portmeirion Group Limited, L Brands, Inc., Newell Brands, Inc., Hyfusin Group Holdings Limited (AVW International Limited), Diptyque (Manzanita Capital Ltd.), MVP Group International, Inc., Village Candle, Inc. (Stonewall Kitchen), and NEST Fragrances (Eurazeo).
Strategies deployed in Scented Candles Market
Aug-2020: Yankee Candle, a subsidiary of Newell Brands partnered with Ordergroove, the leader in Relationship Commerce. Under this partnership, the companies provided consumers with a seamless subscription program to get their favorite products. The new program helped Yankee Candle to form recurring relationships with customers that generate predictable, profitable revenue during this unprecedented time.
Jul-2020: Lalique introduced six new fragrances for expanding its Noir Premier collection. The products also include new Plume Blanche perfume and candle scent that boasted a blend of jasmine, almond-tree leaves and white musks.
Jul-2020: Village Candle established its first outlet store at Settlers Green. The store opening is a part of the company’s geographical expansion. It allowed the company to connect with their customers on the personal level.
Feb-2020: Lalique launched a new candle inspired by Kenya in Africa. The new La Nuit candle has the finest notes of amaretto and plum, a jasmine and orris heart, and base tons of coffee and vetiver. The deep blue packaging recalls the country’s night sky, while golden swallows, which light up when the candle is lit, resemble the birds’ migration to Africa for winter and Kenya’s night sky.
Jan-2020: Yankee Candle, a subsidiary of Newell brands launched its second annual Scent of the Year, known as Awaken. It helps the company to reach the audience with the message to embrace simplicity and transparency. Awaken is available in a Large Classic Jar Candle at Yankee Candle retail locations, at Macy’s, Kohl’s, and Meijer, and online at www.YankeeCandle.com for a limited time.
Dec-2019: The Newell Brands announced the expansion of its research and development (R&D) capabilities. The announcement was made at the ceremony for the opening of its new state of the art 20,300 sq. ft. R&D Lab in South Deerfield, Massachusetts. This expansion of R&D lab boosted the capability, along with capacity of the brand to develop prototype, and test new innovations across the entire range of Yankee Candle, WoodWick and Chesapeake Bay Candle branded products.
Dec-2018: Lalique unveiled its limited edition candle, Le Désert Candle. It added to the Voyage de Parfumeur line-up of the company. The candle is decorated with rare pattern evking sand dunes. The fragrance opens with spices and roses, improved with incense, honey, orange blossom and oud.
Dec-2018: Bath & Body, an American retailer under the L Brands expanded its geographical footprints by continuing its India retail expansion. Under this expansion, they have established a new store in Mumbai. The store offers brand’s selection of fragrances, body lotions, bath products, scented candles, and other products.
Apr-2018: Jo Malone London, a subsidiary of Estee Lauder expanded its global footprints by entering the North Indian market. The company opened its first store in New Delhi. The store offers bespoke British fragrances with latest scents such as Myrrh & Tonka to modern classics like Lime Basil & Mandarin, Wood Sage & Sea Salt and Peony & Blush Suede.
Sep-2017: Newell Brands completed its acquisition of Chesapeake Bay Candle, a leading developer, manufacturer and marketer of premium candles and other home fragrance products. The acquisition expanded Newell Brands’ industry leading Home Fragrance Division.
Dec-2016: Newell Brands took over the Smith Mountain Industries, a leading provider of premium home fragrance products, initially under the WoodWick Candle brand. In this acquisition, WoodWick’s innovative scented candles, "crackle as they burn", are strategically fit with Newell Brands’ current Home Fragrance portfolio that included the category-leading Yankee Candle brand.
May-2016: Portmeirion Group acquired Lighthouse Holdings Ltd, the largest home fragrance makers in the UK. Lighthouse Holdings Ltd operated Wax Lyrical Ltd, a Lake District-based manufacturer of scented candles and reed diffusers. The acquisition expanded the business opportunities and growth of the company. Together with their existing strong brands of Portmeirion, Spode, Royal Worcester and Pimpernel, the brands strengthened their businesses and offered significant opportunities for growth.
Scope of the Study
Market Segments covered in the Report:
By Distribution Channel
• Convenience Stores
• Hypermarkets & Supermarkets
• Container based
• Other Products
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Estee Lauder Companies, Inc.
• Lalique Group SA
• Portmeirion Group Limited
• L Brands, Inc.
• Newell Brands, Inc.
• Hyfusin Group Holdings Limited (AVW International Limited)
• Diptyque (Manzanita Capital Ltd.)
• MVP Group International, Inc.
• Village Candle, Inc. (Stonewall Kitchen)
• NEST Fragrances (Eurazeo)
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