The report covers market dynamics, including drivers, restraints, opportunities, trends, and policy and regulations, which are expected to influence the growth of the candle market during the said period. The study provides a comprehensive analysis of market growth throughout the forecast period in terms of value and volume estimates (US$ Mn and Thousand Tons) across different geographies. A candle is wax with an ignitable wick embedded that provides light, and in some cases, a fragrance. It can also be used to provide heat, or as a method of keeping time.
The worldwide market for Candle is expected to grow at a CAGR of roughly 2.1% over the next five years, will reach 5600 million US$ in 2024, from 4950 million US$ in 2019, according to a new GIR (Global Info Research) study.
The report provides the major drivers that are responsible for the market growth as well as restraints that hamper the market. Moreover, the report includes an analysis of the upcoming opportunities. This analysis of the dynamic factors in the market help market players to understand the major reasons behind the ups and down in the market.
Top Leading Players In Market : Blyth, Jarden Corp, Colonial Candle, S. C. Johnson & Son, Chesapeake Bay Candle, Langley/Emprire Candle, Lancaster Colony, Armadilla Wax Works, Dianne’s Custom Candles, Bolsius, Gies, Vollmar, Kingking, Talent, Zhong Nam, Pintian Wax, Everlight, Allite, Candle-lite
By Type, covers Animal,Vegetable,Paraffin,Synthetic
By Applications, can be divided into Traditional Field,Craft Field
By Region North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Scope of the Report:
Candle industry with distribution is different from other industries, consequently, this market faces some big challenges. Candle usage frequency needs to increase to reinvigorate sales, private label products present a growing threat to branded products. However, The high-end candle segment is the area that continues to see strong growth. As the low- and mid-cost candles continue to erode under the pressure of strong competition, the high-end segment continues to tap into the home decorating angle for increased sales. Utilizing less mainstream methods for distribution (such as mass merchandisers and retailers), these manufacturers have been able to position their products as luxury and true home decor items.
For the past few years, the candle industry grows smoothly. China is the main raw materials for the production of candle, meanwhile, combining with favorable tax policies and large number of available labor, at the same time, Chinese manufacturers are improving their technology, consequently, China is a major exporter of the candle in the future. Taking culture and religion into consideration, candle market has a certain potential in Europe, USA.
In 2015, the global production of candle reaches over 1932 K MT. It is expected to keep about 3.0%-3.7% in next 5 years. the consumption areas of candle are mainly USA and Europe. Europe is the largest consumer in the world, which occupied about 36.35% in 2015.
The price of Candle is lower year by year from 2011 to 2015. The price is at about 2451 USD/MT in 2015. The product profit margin is about 27.55% in 2015, and it also descends in recent years. In the next few years, we predict that price will continue to decline. As competition intensifies, prices gap between different brands will go narrowing. Overall, Candle maintained a high gross margin.
Among all applications, traditional field is expected to be the largest contributor to the overall Candle market in the future. The craft field application is estimated to have the highest growth potential during 2016 to 2021 in Candle market.