Scented Candles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Scented Candles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : January, 2023 | Consumer Goods

Report Digest

Global Scented Candles Market: Overview

Use of scented candles across the residential sector has played an integral role in driving sales across the global market. Scented candles are used to enhance the aesthetics of public spaces, houses, and buildings has emerged as an important dynamic of market growth. These candles are cast into different shapes and sizes to give them an attractive appeal and finish. Furthermore, manufacturers use different colours and patterns to differentiate their products from traditional candle sets and designs available in the market. It is expected that the differentiation strategies of the manufacturers would play a crucial role in widening the product portfolio of the scented candles market.

A syndicate report on the global scented candles market uncovers several important trends and dynamics pertaining to market growth and maturity. The global scented candles market is characterised by constant innovation by manufacturers. The aesthetic appeal of scented candles compels people to buy them as a decorative item. Use of these candles in houses and commercial spaces has gained momentum in recent times. Moreover, the quest of the manufacturers to stay on top of their creativity with sales and manufacturing has also driven sales.

Global Scented Candles Market: Notable Developments

The growth of the global scented candles market is characterised by advancements in designing and packaging.

  • McDonald’s is doing the rounds on social media and other platforms for its decision to introduce scented candles. The fast food chain has brought a pack of six scented candles in the market, and is selling them through its food outlets. The shapes of the candles have been customised to resemble food items such as ketchup, cheese, bun, pickle, meat, and onion. The strategy is likely to attract a larger consumer base to McDonald’s outlets.
  • Several new strategies have been experimented by sellers of scented candles. Candles with varying shapes and sizes have made their way into the market. This has helped in keeping the consumers glued to new products and services.

Key players in the scented candles market are:

  • KORONA Candles Sp. z o.o.
  • The Very Good Candle Company

Global Scented Candles Market: Growth Drivers

  • Availability of Innovative Products

Event planners and managers use several product mixes and items to enhance the aesthetics of venues. Use of scented candles is the most sought-after idea towards creating a visually appealing environment at important events such as weddings and other celebrations.

Furthermore, scented candles are lighted in large numbers to establish grandeur at celebratory events. Several regions observe annual cultural practices and events that are marked by lighting of candles in large numbers. Therefore, inclination of the masses towards following cultural and traditional practices has also given an impetus to market growth and maturity. Manufacturers have reciprocated to the demand for candles by mass-producing a single type in large numbers.

  • Use of Scented Candles during Events and Festivities

There is no dearth of new, attractive, and advanced products in the global scented candles market. Manufacturers of these candles have tapped into the psyche of the consumers, and have experimented with product planning, differentiation, and multichannel marketing. As new shapes and sizes of these candles come to the fore of market, the demand within the global scented candles market shall increase. The use of these candles increases during festivities and important events such as Christmas and New Year’s. Furthermore, flea markets have become an important selling point for scented candles. Several manufacturers focus on developing robust sales channels through retail outlets. Besides, small vendors and street sellers also account for a substantial share of sales in the market.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?