Scented Candles Market Size

Market Outlook:

Scented Candles Market surpassed USD 576.71 Million in 2023 and is expected to exceed USD 835.15 Million by end of the year 2032, observing around 4.2% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 576.71 Million
• CAGR (2024-2032): 4.2%
• Forecast Year Value (2032): USD 835.15 Million
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing trend of using scented candles for aromatherapy and relaxation purposes is driving the growth of the scented candles market. Consumers are becoming more conscious about their mental well-being and are opting for scented candles to create a calming atmosphere in their homes.

The rising demand for eco-friendly and natural scented candles is also fueling the market growth. With growing concerns about the environment, consumers are looking for sustainable and natural products. Manufacturers are responding to this demand by offering scented candles made from organic and plant-based materials.

The growing popularity of scented candles as a gifting option is another major growth driver for the market. Scented candles are increasingly being used as a thoughtful and elegant gift choice for various occasions such as birthdays, weddings, and festivals. This trend is expected to continue driving the market growth in the coming years.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Product, Wax Type, Category, Distribution Channel
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Village Candle, Portmeirion Group PLC, Newell Brands, MVP Group International,, Estée Lauder, Companies, Diptyque Paris, Lalique Group SA, L Brands, NEST New York, Thymes, LLC

High competition in the scented candles market poses a major restraint to the growth of the industry. With a large number of players in the market offering a wide range of scented candles, companies are facing intense competition to differentiate their products and attract consumers. This competition is putting pressure on pricing and profitability in the market.

Another major restraint for the scented candles market is the volatility in raw material prices. The prices of key ingredients such as fragrance oils, wax, and wicks can fluctuate significantly due to factors such as supply chain disruptions and changes in market demand. This volatility in raw material prices can impact the production costs of scented candles, affecting the overall profitability of manufacturers.