The cost of scents and other components has increased recently, as has the price of natural waxes like soy and beeswax. The global candles market also faces several challenges, including the rising price of raw materials is one of the biggest problems.
What Are the Major Challenges Faced by The Global Candles Market? Additionally, candles are increasingly used in home décor to improve the atmosphere, and the growing popularity of scented candles, in line with the wellness trend, is expected to support industry growth. The global candle market is driven by several factors, including female millennials’ wide use of candles in households as an aesthetically pleasing product.
#Wax poetic candles drivers#
What Are the Main Drivers of The Global Candles Market? The market was valued at USD 12.1 Billion in 2022 and is expected to reach USD 18.31 Billion in 2030. The global candle market has witnessed steady growth in recent years and is expected to grow at a CAGR of 6.10% between 20. Also fueling the expansion of the candle market is the rising popularity of candles in spas and wellness facilities. Another element boosting the growth of the candle market is the rising acceptance of Internet purchasing. Nonetheless, the global candle market offers significant growth opportunities, including the candle market expansion is the rising demand for scented candles. As a result, smaller candle businesses may find it challenging to compete with bigger, more well-known brands. However, the increasing price of raw materials is one of the biggest problems. The global candle market has several drivers, including female millennials’ wide use of candles in households as an aesthetically pleasing product.
#Wax poetic candles Offline#
Offline channels are the most commonly used distribution channels, with Asia Pacific leading the market growth. Votive is the most popular, while paraffin & beeswax are the two primary wax type segments. The global Candles market is segmented by product, wax type, distribution channel, and region.
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