Europe’s Scented Candle Market is expected to grow 5.8% annually to USD 1.28 Billion by 2021 and USD 2.21 billion, respectively, by 2031.
These scented candles can also be organic and aromatic and may contain multiple essential oils. Each oil has its own effect and can be used to treat mental and physical illnesses.
Growing Demand:
Millennials want more than just to improve their property. They also want to bring their own style and flair to it. Scent candles are essential in setting the tone for your home’s decor. A scented candle’s subtle colors add a special touch to spaces and lend them a unique character. They create a warm and cozy atmosphere in the home. Lighting candles at different heights is a popular trend to highlight certain room features. Fresh flowers can be used to add color and texture. Beautiful candle holders can be used as decorations.
This market can be divided by Distribution channels into Convenience Stores, Hypermarkets &Supermarkets, and Online. The market can be divided into two products: Container-based and Pillars. You can also segment the market into Germany (the UK), France (Russia, Spain, Spain), and Italy (the Rest of Europe).
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Driving Factors:
The booming hospitality sector will help to boost growth
The COVID-19 pandemic caused travel and leisure activities to decline, but the industry expects positive growth. Tophotelnews predicts that 769 new hotels will open in the U.S. by 2020. The ability to pay basic operational costs and optimism about the future of vaccines will drive growth in the hospitality sector. Due to the expanding hospitality sector, the global scented candle market will grow over the forecast period.
Restraining Factors:
According to the article “The U.S. Hospitality Net Organisation,” “The U.S. during Pandemic Leads In Hotel Openings”, 55.395 new U.S. hotels were opened between March 2020 and September 2020. The popularity of festivals will result in a long-term increase in the number of scented candle-making companies.
The affordability and availability of alternative products such as scented sticks or the new trend in electric aroma diffusers will likely be limited market growth.
Market Key Trends:
Candles hurt the environment, and people worldwide are switching to eco-friendly alternatives. Candles used as home decor are also on the rise. Companies in the global scented candles market have seen significant growth.
Companies involved in the scented candle market invest extra time and energy in improving their products. Companies focus on creating specialized scented candles that can be used in home furnishings to make them more appealing. There is a noticeable increase in the demand for fruit-shaped candles in the living and dining areas. These product innovations are expected to boost the global scented candle industry’s growth over the next few decades.
The internet has increased the number of people who shop for scented candles. To increase sales, online retail stores host various events. These factors have contributed greatly to the rapid growth in global scented candle markets.
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Recent development:
- June 20, 2020 – Stonewall Kitchen LLC announced the acquisition of Village Candle Inc. The company will launch a new collection that features leather, incense, and honey for gentlemen.
The report includes key market players:
- The Procter & Gamble Company
- Reckitt Benckiser Group Plc (Air Wick)
- The Estee Lauder Companies Inc.
- Newell Brands Inc.
- Lalique Group SA
- Portmeirion Group Limited (Waxlyrical).
- GALA GROUP GMBH
- Diptyque Paris
- Heaven Scent Incense Limited
- Whax Holdings Ltd.
- Others
The Key Market Segments
Based on wax type
- Synthetic Wax
- Paraffin Wax
- Plant-Based Wax
- Animal wax
Based on Product Type
- Jar
- Pillar
- Tea Light
- Floating Candles
- Other product types
Based on Fragrance
- Fruity
- Floral
- Exotic
- Sweet and spicy
- Other Fragrances
Based on Distribution Channel
- Online platforms
- Offline Stores
Based on Country
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Sweden
- Denmark
- Rest of Europe
FREQUENTLY ASKED QUESTIONS?
- How much is the Europe-Scented Candles Market worth?
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