The global candle market size reached nearly USD 8.33 billion in 2023. It is expected to grow at a 2.7% CAGR during 2024-2032 to reach USD 10.61 billion by 2032.
The market trends include candle-holder flashlights, candles with storage, and candLEDs. The increasing trend of relaxation activities positively impacts decorative candle demand. The commercial use of candles has increased sharply, with spas and restaurants using scented candles. Consumers buy them for home decor and stress reduction. During Christmas, nearly 35% of US candle sales occur. The shape, color, and scent drive sales in North America.
Key players are Blyth, Jarden Corp, Colonial Candle, S. C. Johnson & Son, Chesapeake Bay Candle, Langley/Emprire Candle, Lancaster Colony, Armadilla Wax Works, Dianne’s Custom Candles, Bolsius Gies, Vollmar, Kingking, Talent, Zhong Nam, Pintian Wax, Everlight, Allite, and Candle-lite.
The future of the candle industry is shaped by sustainability efforts, emerging trends, and challenges such as environmental regulations and rising raw material costs. This highlights the need for innovation and adaptation to consumer preferences.