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Scented Candles Market Segmented By Product Type such as Synthetic Wax, Paraffin Wax, Vegetable Wax, Animal Wax in Mass and Premium Category
Scented candles have found application in the residential segment and the hospitality industry outlets like spas, restaurants and hotels due to their aromatic and relaxing properties. Furthermore, several consumers also vouch for the therapeutic properties of scented candles as well. Several positive drivers have led to consistent market growth in recent years. However, this growth may be threatened by the Covid-19 crisis.
The scented candles market is a highly fragmented market as various international players are in the fray. The fragmentation is further heightened by local players who enjoy the advantages of lower labour and tariff costs. A large unorganised sector has also been a challenge for the market’s major players.
Key players in the scented candles market include Bolsius International, Welburn Candles, L Brands, The Yankee Candle, Reckitt Benckiser, Newell Brands, BeCandle, Diptyque, Godrej Consumer Products, Lee Naturals, Empire Candle, Procter & Gamble, Parcan, NEST Fragrances, Conscious Candle Company, Colonial Candle (US), S.C. Johnson & Son, Zhong Nam Industrial (International), Brandt Kaarsen, ScentAir Technologies, Candle-lite and The Bridgewater Candle.
The growing demand for organic and eco-friendly candles, also called green candles, has led to manufacturers increasingly diversifying into products made of materials like bee wax and soy wax instead of paraffin. Bee wax and soy wax candles also do not release toxic gasses while burning. However, the growing popularity of organic candles has also caused further market fragmentation.
This trend has been observed in terms of fragrances that are incorporated in the candles as well and manufacturers have been replacing chemical fragrants with natural, plant-based materials. Certain manufacturers have also been focussing on products that can eliminate smoke; Smoke Odor Exterminator Candles are one such product.
Scented candle manufacturers have also been experimenting with different shapes and designs for their products as consumers have increasingly been attempting to incorporate scented candles in their home décor. Fruit shapes are a popular scented candle product among consumers.
Some of the key brands available in the market include Chesapeake Bay, Yankee Candle, Mrs. Meyer's Clean Day, YIIA, Smoke Odor Exterminator, LA JOLIE MUSE, YINUO LIGHT, YIHAN, Aroma Naturals, FEBREZE, Glade Candle, Nature's Wick and Winbattle Candle.
Most brands have been attempting to increase their online presence in recent years to capitalise on the growing online sales of scented candles. However, traditional distribution channels such as retail stores and supermarkets still dominate the scented candles market.
Improving standards of living across the globe have been a key driver for the scented candles market. Changes in lifestyle that are leading to stress and related ailments has also driven demand for scented candles due to its therapeutic properties. The recent hospitality sector boom also had a positive impact on the market.
Increasing concerns over toxic chemicals produced due to candle smoke and during the candle manufacturing process has been a restraint. Candle manufacturers have sought to allay these concerns through eco-friendly products, but apprehensions continue to persist.
The scented candle market will be hit by the Covid-19 pandemic and resulting economic crisis in both the residential and commercial segments. Reduced disposable incomes may deter people from purchasing scented candles as they are essentially luxury products.
In the commercial segment, the slowdown in the hospitality industry, which accounted for the largest scented candle sales in the segment, is likely to persist for several years to come. These factors will mean that scented candle manufacturers will compete in terms of product pricing.
North America has been the largest regional segment for the scented candle market, followed by Europe. This due to the high standard of living in these regions. The East Asian and South Asian segments registered the largest growth due to emerging economies like India, China and Southeast Asia. These dynamics may however change in the post-Covid-19 era.
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