The global scented candles market was valued at almost USD 5 billion in 2016 and is expected to surpass USD 6 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global scented candles market, under its health and wellness portfolio. This market analysis discusses the primary drivers and key developing trends and offers an analysis of key vendors like California Exotic Novelties, P&G, LELO, and Reckitt Benckiser.
According to Amber Chourasia, a lead analyst for health and wellness research at Technavio, “The increasing dependence on product novelty and packaging innovation will drive the evolution of the market. The rapidly changing world, busy lifestyle and the need for easier and faster solutions provide a new opportunity for the manufacturers of scented candles. These opportunities will allow the vendors to develop new product lines that meet the requirements of the consumers.”
The vendors are using technologies to launch organic scented candles that help remove the negative perception of the products such as their side effects. The manufacturers are also focusing packaging, flavor variety, and design of scented candles to increase their consumer base. The increasing emphasis on product innovation, re-design, and packaging are expected to impact the market positively in the coming years.
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Rapid growth of e-commerce
The growing popularity of e-commerce will offer end-users a platform to browse and purchase from a broad range of products available on online portals. These portals allow vendors to improve their brand visibility and brand retention thereby providing an easier experience to the consumers. The advent of online shopping will help sellers to offer a broad range of scented candles to reach new customers, considerably increasing the potential customer base for these products.
Increase in popularity of DIY method and localization of oil ingredient sourcing
The newest trend of DIY products will encourage end-users to source ingredients such as candle scents and fragrance oils locally. This trend will provide an opportunity to the end-users to blend their composition of oils to create a desired scented candle. The vendors are offering different flavor wax for consumers who like creating candles of their tastes and preferences and customizing products as per their needs. Such innovations will boost the sale of new products in the global market.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Scented Candles Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aroma Chemicals Market 2017-2021
- Global Flavors and Fragrances Market 2016-2020
- Global Natural Colorant and Flavor Market 2016-2020
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