The global Scented Candles Market size was valued at USD 401.71 Million in 2023 and is projected to reach USD 418.98 Million in 2024, growing to USD 586.43 Million by 2032. This represents a compound annual growth rate (CAGR) of 4.3% during the forecast period (2024–2032).
Industry Definition
The Scented Candles Market encompasses the production, distribution, and sale of candles infused with fragrances. These candles are designed to provide a pleasant aroma when burned, enhancing the ambiance of a space. They are widely used for home decor, relaxation, and aromatherapy purposes.
Scented Candles Market Size and Share
The Scented Candles Market is experiencing steady growth, with a market size of USD 401.71 Million in 2023. The market is expected to grow at a CAGR of 4.3% during the forecast period, reaching USD 586.43 Million by 2032. This growth is driven by increasing consumer interest in home decor and aromatherapy, as well as the rising popularity of eco-friendly products.
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Scented Candles Market Statistics
• Market Size (2023): USD 401.71 Million
• Projected Market Size (2024): USD 418.98 Million
• Projected Market Size (2032): USD 586.43 Million
• CAGR (2024–2032): 4.3%
Regional Trends
• North America: The North American market is driven by high consumer spending on home decor and wellness products. The United States is the largest market in this region, with a strong preference for premium and customized scented candles.
• Asia-Pacific (APAC): The APAC region is witnessing rapid growth due to increasing disposable incomes and changing lifestyles. Countries like China and India are major contributors to the market growth, with a rising demand for luxury home decor items.
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Scented Candles Market Segmentations
Based on product, the global market is categorized into container-based, pillar, and others. The container-based segment is the highest contributor to the market and is predicted to exhibit a CAGR of 3.4% during the forecast period. Container-based candles are one of the most popular types of scented candles, as they can be used in restaurants and at home. These candles help establish the tone and atmosphere of a space. Container-based candles help millennials cope with their hectic lifestyles and maintain a positive attitude by burning these candles. In addition, container-based candles provide the ideal atmosphere to induce calmness and a sense of well-being.
By Product (2020-2032)
- Container-based
- Pillar
- Others
By Distribution Channel (2020-2032)
- Hypermarkets and Supermarkets
- Convenience Stores
- Online
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Top Players in Scented Candles Market
- Estee Lauder Companies Inc.
- Newell Brands
- MVP Group International Inc.
- L Brands
- Village Candle
- Portmeirion Group PLC
- NEST New York
- Lalique Group SA
- Diptyque Paris
- Thymes LLC.
Conclusion
The Scented Candles Market is poised for significant growth in the coming years, driven by increasing consumer interest in home decor, aromatherapy, and sustainable products. With a projected market size of USD 586.43 Million by 2032, the industry offers ample opportunities for key players to innovate and expand their product offerings. As consumer preferences continue to evolve, the market is expected to witness further diversification and growth.
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