Scented Candles Market Opportunity And Industry Expansion Strategies 2025

The global scented candles market size is expected to reach USD 545.2 million by 2025, expanding at a CAGR of 8.4%, according to a new report by Radiant Insights, Inc. Shifting traction towards various therapeutic procedures including aromatherapy, massage, and spa in order to relax human's body is expected to expand the market and scope for scented candles. Additionally, organically prepared scented candles play a unique role in aroma therapy as they act as diffuser for fragrances, which can be inhaled easily by consumers.

The utilization of these candles in aromatherapy results in providing various benefits such as improving sleep, soothing sore joints, treatment of headaches and migraines, fighting bacterial infection, improving digestion, and boosting immunity. According to a research published in November 2016, in Pain Research and Treatment on "The Effectiveness of Aromatherapy in Reducing Pain", it was found that the therapeutic procedure had a significant beneficial effect in combating pain. Such research studies are expected to play a key role in promoting the application of various therapeutic procedures and thus, in turn, will expand the market for scented candles over the next few years.

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Product innovation is expected to remain a critical success factor over the next few years. In September 2019, iheartpopcandles launched the "McDreamy" candle inspired by fictional neurosurgeon on Grey's Anatomy, Dr. Derek Shepherd. The candle is being sold on Etsy for USD 20 and is expected to have a fragrance resembling a mix of sea and salt. In the same month, another manufacturer, Poundland launched three new cocktail inspired scented candles, such as Rhubarb and Ginger, Bellini Surprise, and Prosecco Fizz.

In September 2019, Yankee Candle Company launched a candle range designed for any new parents of a newborn. The range is available in varieties of colors and emblazoned with different colored balloons expressing the gender of the baby. The larger jar is available for GBP 27.9 and the smaller jar is available for GBP 17.9. Available fragrances include clean cotton, soft blanket, cherry blossom, fluffy towels, and warm cashmere.

Further key findings from the report suggest:

• The container based segment accounted for more than 55% of the global market revenue in 2018. The dominance is attributed to easy access to these products through offline channels along with excellent convenience offered to the buyers. The pillar segment is expected to witness a CAGR of 8.1% from 2019 to 2025

• The online segment is expected to witness fastest growth at a CAGR of 9.2% from 2019 to 2025. Most major manufacturers are spending on development of their in-house online distribution channels, in order to serve their buyers. Convenience stores accounted for more than 55% of the global scented candles market revenue in 2018

• North America accounted for more than 35% of the global market revenue in 2018. Increased number of spa and massage center in U.S. and Mexico is expected to keep the dominance of the region over the next few years.

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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Radiant Insights Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights

Chapter 3. Scented Candles Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Scented Candles Market
3.7. Market Entry Strategies

Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations

Continued…

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