What is Soy Candle-?
The market for soy candles has been mostly driven by rising living standards worldwide. The demand for Soy candles has also increased because of its therapeutic benefits as a result of changes in lifestyle that cause stress and related illnesses. The market benefitted from the recent boom in the hospitality industry. Soy wax, a refined version of soybean oil, is used to make soy candles. Since soy wax often has a lower melting point than conventional waxes, they are normally container candles, but they can also be turned into pillar candles by adding particular ingredients to the soy wax.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Village Candle ( US), Portmeirion Group PLC ( UK), Bath and Body Works ( US), Newell Brands ( US), MVP Group International, Inc. ( US), Thymes, LLC ( US), NEST New York ( US ), L Brands ( US), Lalique Group (Switzerland), Estée Lauder Companies Inc ( US), Candle-lite ( US), Reckitt Benckiser Group plc ( UK), BeCandle ( China), The Yankee Candle Company ( US0 and Wax and Wick ( US) |
The study covers a detailed analysis segmented by key business segments i.e. , by application (Home Decor, Restaurant, Body spa and Massage and Others) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Soy Candle- market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Soy Candle- market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Village Candle ( US), Portmeirion Group PLC ( UK), Bath and Body Works ( US), Newell Brands ( US), MVP Group International, Inc. ( US), Thymes, LLC ( US), NEST New York ( US ), L Brands ( US), Lalique Group (Switzerland), Estée Lauder Companies Inc ( US), Candle-lite ( US), Reckitt Benckiser Group plc ( UK), BeCandle ( China), The Yankee Candle Company ( US0 and Wax and Wick ( US).
Market Overview:
On December 13, 2021, Global Consumer Acquisition Corp. signs business merger agreements with GP Global and Luminex in order to create a global care platform., On January 28, 2019, Zippo Manufacturing Company Announced the Acquisition of Northern Lights and On May 4, 2018, Gala Kerzen and Korona partnered, with the help of its relationship with Korona, GALA Kerzen is growing its presence in the US and Europe. Global candle maker Korona provides a variety of private label goods to well-known international corporations.
The market for soy candles is extremely competitive, with the leading competitors concentrating on new product development and innovations such as scents and longer candle durability. Companies are spending money on R&D to create innovative products. To enhance their market share globally, the top essential players are engaging in mergers and acquisitions.
Soy Candle- Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increase demand from restaurant for soy candles
- Increasing demand for Eco-friendly candles
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Major Trends | - Rising demand of natural soy candles in the hospitality sector
- Increase use of scented candles
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Restraints | - The availability of substitute products will limit market expansion
- The inflexibility of soy candle with various scented oils restricts market expansion
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Road Blocks / Challenges | - Soy candles perform poorly in humid conditions, which hinders market expansion
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Gaps & Opportunities | - A significant opportunity will arise from the increased use of soy candles for home decor
- Increasing use of soy candles and scented candles in the massage parlour and spa
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Key highlights of the Global Soy Candle- market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Soy Candle- market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Soy Candle- market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Soy Candle- Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Soy 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, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Soy Candle- market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using 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 Restaurant, Home Decor, Candle Manufacturer and Healthcare ( Aromatherapy).
This helps us to gather the data for the 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 include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.