A trend report from Research and Markets indicates that the global scented candle market will grow to $690.8 million by 2028 at a 3.3% CAGR. The market growth can be attributed to social media influencers and the increased interest in candles as forms of self-care, new hobbies or business ventures.
According to the report, candle-making was one of the biggest lockdown trends during the COVID-19 pandemic and gained traction on social media platforms like TikTok, resulting in a 3,500% spike in searches for soy candle-making kits. Overall U.S. candle sales increased by 30% since the pandemic.
OnBuy's Health and Beauty Department reported that there are 81,560 searches monthly for candle trends.
Research and Markets identify the increase in online shopping and trends about mental wellness and home decor as market drivers.
The container-based segment accounted for the largest revenue share (56.9%) in 2020 and is expected to expand at a 3.6% CAGR from 2021 to 2028.
North America dominated the market and accounted for the largest revenue share (33.1%) in 2020.