Global Candle MarketPosted by pallavi on January 6th, 2021 Global Candle Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of XX% during forecast period. A candle is a flammable wick made of wax that provides light. Recently, candles are a symbol of celebration, defines a ceremony and events, soothes the senses, etc. Manufacturers are focusing to produce innovating candles and proposing aromatic candles for the living room, and dim light candles for the bedroom, etc. Key factors driving the candle market contain the rise in usage of candles for special occasions such as birthdays or wedding ceremonies, festivals, etc. Also, an increase in the usage of candles by therapists to create a peaceful environment in therapy rooms, lighting candles in prayers and meditation, etc. are some of the significant factors driving the growth of the candle market. Growth in e-commerce has created massive opportunities for manufacturers & suppliers across the globe. So that provides an inclusive range of customers across the globe, manufacturers & suppliers of candles are focusing on selling their products on several e-commerce websites. On the other hand, a major challenge hampering the growth of the candle market is volatility in the prices of raw materials. Obtainability of numerous substitute products, for example, electric candles, fairy lights, etc. are expected to hinder the growth of the candle market. Based on the distribution channel, the offline channel accounted for the largest market share in 2018, such as the people in emerging countries with China, India, and Bangladesh enormously purchase the products from local accessibility and departmental stores. The offline channels also deliver the choice of physical confirmation to buyers as they can test the fragrance before buying the scented products. Though, online channel are expected to witness the fastest growth over the forecast period as a result of the growing number of millennials using smartphones & tablets. Additionally, big brands such as Yankee and Louis Vuitton arrange the initial sales of products through online channels. Region-wise, North America held the largest market share in 2018 and expected to steady growth over the forecast period. Because of increasing product demand throughout the festive seasons for example Easter and Christmas. The presence of popular candle manufacturing companies and numerous product launches in the U.S. are driving the candle market. In addition, the Asia Pacific candle market is expected to witness the fastest growth in the forthcoming years, on account of a large number of festivals celebrated across the region, particularly in India. Foremost brands are expected to focus on modernization and R&D activities to reinforce the position in the global candle market. Companies are undertaking M&A, and joint ventures with local players to grow the product portfolio. Manufacturers in emerging countries are focusing on dropping the cost of production and increase profitability for the viable growth of the business. The objective of the report is to present a comprehensive analysis of the Global Candle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Application. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Application on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Candle Market dynamics, structure by analyzing the market segments and project the Global Candle Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Candle Market make the report investor’s guide. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. For More Information Visit : https://www.maximizemarketresearch.com/market-report/global-candle-market-2/42231/
Global Candle Market, By Type • Tea Lights • Beeswax • Offline • North America • Vollmar GMBH This Report Is Submitted By : Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Name: Lumawant Godage Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD. Email: sales@maximizemarketresearch.com Address : Pune, Maharashtra 411051, India. Contact: +919607195908 Like it? Share it! More by this author |