The global Candle market was valued at 499.46 Million USD in 2021 and will grow with a CAGR of 1.91% from 2021 to 2027, based on Stats and Research newly published report.
The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
A candle is wax with an ignitable wick embedded that provides light, and in some cases, a fragrance. It can also be used to provide heat, or as a method of keeping time.Candle industry with distribution is different from other industries, consequently, this market faces some big challenges. Candle usage frequency needs to increase to reinvigorate sales, private label products present a growing threat to branded products. However, The high-end candle segment is the area that continues to see strong growth. As the low- and mid-cost candles continue to erode under the pressure of strong competition, the high-end segment continues to tap into the home decorating angle for increased sales. Utilizing less mainstream methods for distribution (such as mass merchandisers and retailers), these manufacturers have been able to position their products as luxury and true home decor items. For the past few years, the candle industry grows smoothly. China is the main raw materials for the production of candle, meanwhile, combining with favorable tax policies and large number of available labor, at the same time, Chinese manufacturers are improving their technology, consequently, China is a major exporter of the candle in the future. Taking culture and religion into consideration, candle market has a certain potential in Europe, USA. In 2015, the global production of candle reaches over 1932 K MT. It is expected to keep about 3.0%-3.7% in next 5 years. the consumption areas of candle are mainly USA and Europe. Europe is the largest consumer in the world, which occupied about 36.35% in 2015. The price of Candle is lower year by year from 2011 to 2015. The price is at about 2451 USD/MT in 2015. The product profit margin is about 27.55% in 2015, and it also descends in recent years. In the next few years, we predict that price will continue to decline. As competition intensifies, prices gap between different brands will go narrowing. Overall, Candle maintained a high gross margin. Among all applications, traditional field is expected to be the largest contributor to the overall Candle market in the future. The craft field application is estimated to have the highest growth potential during 2016 to 2021 in Candle market.
By Market Verdors:
Blyth
Jarden Corp
Colonial Candle
S. C. Johnson & Son
Chesapeake Bay Candle
Langley/Emprire Candle
Lancaster Colony
Armadilla Wax Works
Diannes Custom Candles
Bolsius
Gies
Vollmar
Kingking
Talent
Zhong Nam
Pintian Wax
Everlight
Allite
Candle-lite
By Types:
Animal
Vegetable
Paraffin
Synthetic
By Applications:
Traditional Field
Craft Field
Key Indicators Analysed
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the markets competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
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