The latest market report published by Credence Research, Inc. “Candles Market , By Type, distribution channel and Geography – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global candles market was valued at US$ 7,567.50 Mn in 2016, and is expected to each US$ 11,707.76 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
Browse the full Candles Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/candles-market
Consumers are increasingly purchasing candles for their home decor, and for aromatherapy-like stress reduction and relaxation. The ease of purchase as well as the availability of various type of candles on multiple distribution channels is prompting more and more people to purchase these products. Proliferation in the number of distribution channels has benefited the sales through department, mass merchandise retailers and home decor stores. Supermarkets and hypermarkets are benefiting due to their discounted prices and various offers particularly attracting more and more buyers. The popularity of e-commerce has significantly increased candles sales. The ease of purchase as well as the availability of extensive information and reviews on products online is prompting more and more individuals to buy these products.
Volatility in the prices of raw materials is the major factor hampering the market growth. Paraffin is still the most widely used base material for candle production. Meanwhile in 2014 and 2015, almost 33% of paraffin production in some countries was shut down; forcing candle manufacturers to import large volumes of base material at higher prices. Increasing usage of candles in various applications provide immense opportunities to the manufacturers present in this market.
The market is highly fragmented owing to presence of numerous players. The barriers to entry in the candle industry are low. The small candle makers are rising up and taking their piece of the pie. Many customers are opting to purchase candles from the smaller hand crafted market owing to the uniqueness, quality, and the ability to customize their orders.
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- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Rest of Middle East & Africa
Research methodology devised for this study:
Our methodology comprises a blend of primary and secondary research for engineering the market size, shares and estimations for global “Candles” market specific to key segments, and regional segmentation.
- Secondary Research
Some of the basic, but most important sources referred during the study included company annual reports, press releases, and relevant documents throwing light upon the recent developments in the global “Candles” market. Reliable sources such as scientific journals, university research papers and government websites were equally referred for recognizing business opportunities in various geographical markets and market penetration of various products/services. In addition, paid databases were referred to collect information useful for extensive commercial study of the key players operating in “Candles” market. In case where no data was available on the public domain, we used modeling and estimates to arrive at comprehensive data sets. Secondary research helped to prepare a base for “Candles” market study.
- Primary Research
The extensive secondary research carried out was complemented by extensive primary research to validate data and analysis. Primary research involved telephonic interviews, e-mail interactions as well as face-to-face interviews with the leading industry experts.
The participants tracked for primary interviews include:
- Vice President/ CEOs
- Marketing/product managers
- Market intelligence managers
- National sales managers
- Purchasing managers
- Other stakeholders
How this report is useful?
The “Candles” report will facilitate strategic decision-making with reliable and authentic market data. It also maps the key competitors and their strategies and positioning in the “Candles” market. The study also deals with innovative and upcoming technological trends that basically aims to give you an edge over competitors. Various industry models, market dynamics and data covered in the report offers clarity on various markets across the value chain. The report also provides decisive strategies with an objective to support the decision making regarding market entry and exit. The study also highlights the revenue pockets and investment opportunities present in the market.
Who should buy this report?
- Stakeholders across the “Candles” market value chain.
- Business development managers
- Marketing managers
- Government agencies
Scope of the Report
- Global “Candles” market forecasts from 2018-2026
- Regional “Candles” market forecasts from 2018-2026 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America;
- Country level forecasts from 2018-2026 covering major countries from aforementioned regions
- “Candles” submarket forecasts from 2018-2026 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to “Candles” market
- Analysis of the key factors driving and restraining the growth of the global, regional and country level “Candles” markets from 2018-2026
- Competitive Landscape and market positioning of top 10 players operating in the “Candles” market
- Profiles and market share of the leading 10 companies in 2017 at a global level
Key questions answered in this report
- Who are the distributors, traders and dealers of “Candles” market?
- What are expected largest segments in the “Candles” market during the forecast period from 2018 to 2026?
- What are the fastest growing segments in the “Candles” market for the forecast period?
- What are the current market trends in the “Candles” market and valuable opportunities for the players?
- How the regulatory framework affects the global as well as the regional “Candles” markets?
- Which are the key players operating in the global “Candles” market and what are the strategies adopted by them?
- What are sales, revenue, business strategy and product portfolio of top manufacturers of “Candles” market?
- What is the market size and trend in emerging and developed markets?
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