About Luxury Candle
A luxury candle brand is defined by its attention to detail, high-quality ingredients, and elegant packaging. candles are used mainly for their aesthetic value and scent, particularly to set a soft, warm, or romantic ambiance, for emergency lighting during electrical power failures, and for religious or ritual purposes. With options ranging from pumpkin spice to fresh floral scents, adding luxury candles to space will fill your home with warmth and elegant fragrance. Luxury candles create a beautiful ambiance in whatever room they are in and will be sure to delight senses. Increasing demand for people to scented candles or handcrafted designs are recent trend of the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The growing market for a home and office décor is the drive of the market growth. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain a high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality and enhance and promote performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Luxury Candle market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Candles Scandinavia (Sweden), P.f. Candle Co (United States), Boy Smell (United States), Harlem Candle Company (United States), Forvr Mood Chasing Waterfalls Candle (United States), Stoneglow Candles (United Kingdom), Candle Shack Scotland (United Kingdom), Byron Bay Candles (Australia), Maisey Candle (Australia) and AromaWorks Candle (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Voluspa (United States), Spoken Flames-Focused Candle (United States), Chesapeake Bay Peace + Tranquillity Scented Candle (United States), Homesick Philadelphia Candle (United States), LAFCO Marine Candle (United States) and Diptyque Baies Candle (Paris).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Candle market by Type (Regular and Scented) and Region.
On the basis of geography, the market of Luxury Candle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Wax Type:, the sub-segment i.e. Paraffin will boost the Luxury Candle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution channel , the sub-segment i.e. Supermarket & Hypermarket will boost the Luxury Candle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing demand for people for scented candles or handcrafted designs and Growing popularity of luxury candles via social media
Market Growth Drivers:
The growing market for a home and office décor and Luxury Candle Use in Self-Care Routines Is Growing
Challenges:
Issues associated with petroleum-based wax and air pollution
Restraints:
The use of many harmful chemicals causes health problems
Opportunities:
Increasing disposable income of population coupled with rising popularity of luxury candles in developing nations
Market Leaders and their expansionary development strategies
In April 2023, Boy Smells teams up with artist Tschabalala Self on a limited-edition "Empress" candle. Showcasing Self's vibrant artwork and a complex floral fragrance.
In February 2021, Harlem Candle Company launched its 22k Gold Josephine Candle, the newest addition to the luxury fragrance brand’s product line just in time for Valentine’s Day: “Josephine,” the essence of opulent amber, but in a 22-karat gold-embellished red vessel featuring the brand’s iconic logo design.
Key Target Audience
Government Agencies, Candle Manufacturers, Raw Material Suppliers and Distributors, Market Research & Consulting Companies and End User Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.