Candle Market – What Factors will drive the Market in Upcoming Years and How it is Going to Impact on Global Industry
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.
The report covers outlook and research for the Candle market on a worldwide and regional level. The research gives noteworthy data of 2015-2017 alongside an outlook from 2018 to 2026 in view of revenue (USD Billion). The examination includes drivers and limitations for the Candle market beside the effect they have on the request over the figure time frame. Furthermore, the report combines the study of possibilities available in the Candle market on a worldwide level.
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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.
This report offers extensive research on the worldwide Candle showcase alongside, market trends, market size, drivers, and restraints of the Candle market. This report includes an itemized focused scenario and item pattern of key merchants. To understand the competitive scene in the market, a research of Porter’s five forces model for the market has additionally been incorporated. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.
Key aspects of the study include:
Candle Market Snapshot
Classification of Candle Market
Market Overview: Market drivers, restraints and key trends analysis
Competitive analysis of the key players operating in the market
Market size split on the basis of geographies and sub-geographies
Cross-sectional market size for all segments per sub-geography
Historical market size for year 2016 with 2017 as the base year
Forecast period: 2018 to 2026
Key questions answered in the Report
What is the Current Market Size and Forecast for Candle Market?
Who are major players in the industry and what are their strategies and developments in the recent years?
What are the key segments expected to emerge as the most attractive during the forecast period?
Which is the most lucrative geographic region for Candle market?
At Credence Research, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most detailed analysis of the industry. The research process begins with extensive data mining, using authoritative sources such as trade magazines, technical publications, independent studies along with paid avenues.
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