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 : June, 2020 | Consumer Goods | PPT format

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.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.