The global candle market is estimated to reach a market size of approximately $15.11 billion by 2030, according to a recent report by ResearchAndMarkets.com.
The market is expected to grow at a CAGR of 6.17% from 2024 to 2030, emphasizing the growing appetite for candles in a myriad of forms.
Key growth factors include:
- A heightened interest in home décor
- Burgeoning demand for scented and aromatherapy candles, alongside elevation in disposable incomes, particularly in Asia and the Middle East.
Research points to supermarkets and hypermarkets as pivotal facilitators in the candle sales domain, offering a vast range of accessible choices to consumers. Meanwhile, the online retail segment is also charting an upward curve, fueled by convenience and the expansion of e-commerce.
There is 74% candle ownership among Americans in the United States market, making it a leader with a robust infrastructure and a high usage incidence.
