Global Premium Candle Market Overview:
Premium candles are made with high-quality pure fragrance oils or essential oils meaning that they release a delightful, natural aroma. Candles are largely used in aromatherapy in hotels, spas, and other commercial businesses. Additionally, the increasing adoption of colorful candles in home décor and the availability of a variety of designed candles with robust distribution channels have been fuelling the growth of the market.
Growth Drivers
- Increasing Disposable Income
- Rising Numerous Designs in The Candle
Roadblocks
- High Cost of Products
- Volatile Raw Material Prices in Manufacturing Candles
Opportunities
- High Demand for Unique Fragrances and Continuous Innovation in Candle
- Growing Adoption of Colorful Candles in Home Decor
Challenges
- High Competition between Manufacturers
Competitive Landscape:
In Premium Candles, it has been observed that most of the companies are upgrading or introducing innovative products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation, and sourcing strategies to enhance their market share.
Some of the key players profiled in the report are Aromatherapy Associates (United Kingdom), Brooklyn Candle Studio International (United States), Byredo (United Kingdom), Capri Blue (United States), Diptyque (France), Jo Malone (United Kingdom), La Jolie Muse (United States), Le Labo (United States), NEST New York (United States) and VOLUSPA (United States). Additionally, following companies can also be profiled that are part of our coverage like Trapp Fragrances (United States) and Evoke Candle Company (United States). Analyst at AMA Research see United States Vendors to retain maximum share of Global Premium Candle market by 2026. Considering Market by Distribution Channel, the sub-segment i.e. Specialty Stores will boost the Premium Candle market. Considering Market by Wax, the sub-segment i.e. Paraffin will boost the Premium Candle market.
On Jan. 22, 2019, Yankee Candle, the world's most loved candle brand, debuts the first ever Scent of the Year. The company, which has a history of launching trend-forward fragrances, has expanded its annual trend prediction process to identify one resonating theme and a single fragrance that defines 2019.
What Can be Explored with the Premium Candle Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Premium Candle Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Premium Candle
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Premium Candle market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Premium Candle market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Premium Candles Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms and Government Regulatory and Research Organizations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.