Scented Candle Global Market Report 2024

The scented candle market size has grown strongly in recent years. It will grow from $3.91 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion observed in the historical period can be attributed to trends in aesthetics and décor, the increasing emphasis on wellness and stress relief, seasonal and holiday demand fluctuations, the popularity of gifting and personalization, and the evolution of fragrance preferences.

The scented candle market size is expected to see strong growth in the next few years. It will grow to $5.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to the emphasis on wellness and mindfulness practices, ongoing innovation in fragrances, the continued influence of seasonal and occasional demand, the rising popularity of personalization and customization, and a growing commitment to sustainability and eco-friendly practices. Major trends expected in this forecast period include a heightened focus on holistic well-being, an inclination toward natural and botanical scents, the introduction of limited edition offerings, unique fragrance combinations, and the incorporation of therapeutic and mindfulness practices.

The scented candle market is anticipated to experience growth due to changes in lifestyle leading to stress and related ailments. Stress, encompassing physical, emotional, or psychological distress, has become prevalent, particularly with the transformative impact of the COVID-19 pandemic, resulting in uncertainties, altered routines, financial challenges, and social isolation. These factors have elevated anxiety and stress levels, prompting individuals to seek relief through holistic, chemical-free methods such as aromatherapy, involving the use of scented candles. For instance, data from Champion Health Inc. in January 2023 indicates a rise in depression among 17% of individuals in the UK during the summer of 2021, compared to 10% before the pandemic. Anxiety, affecting 40 million individuals (19.1% of the population), is the most prevalent mental disorder. Consequently, the demand for scented candles is driven by lifestyle changes causing stress and related ailments.

The scented candle market is poised for growth due to the rapid expansion of the e-commerce sector. E-commerce, facilitating online buying and selling, has become integral to business-consumer (B2C), business-business (B2B), and consumer-consumer (C2C) transactions. Scented candle companies benefit from the expansive reach of e-commerce, offering a seamless purchasing experience and adapting to evolving consumer preferences. Notably, data from the United States Census Bureau in November 2023 reveals a 7.6% increase in e-commerce sales for the third quarter of 2023 compared to the same period in 2022. E-commerce sales constituted 15.6% of total revenues during this period. Hence, the scented candle market is driven by the rapid growth of the e-commerce sector.

Major market players are concentrating on product innovations. For instance, Shefar, a Japan-based direct-to-consumer fragrance brand, introduced the Liela and Mullan Candles product line in November 2022. These scented candles, inspired by the concept of 'the girl of your dreams,' were crafted with a balanced formula, ensuring both intense aroma and efficient combustion with low soot emission. The Liela Candle combines jasmine, vanilla, and sandalwood for an elegant yet not overly sweet fragrance, while the Mullan Candle blends citrus, floral, and patchouli scents for a refined and soothing ambiance.

Strategic partnerships are becoming a prominent approach among major companies in the scented candle market. These partnerships leverage each other's strengths and resources to achieve mutual benefits. For instance, in June 2021, Moose Tracks Ice Cream collaborated with Wax Poetic Candle Bar to create a unique scented candle inspired by ice cream. The vanilla-scented Moose Tracks Candle captures the essence of the original Moose Tracks flavor, featuring organic cotton wicks with a 70-hour burn time. Such partnerships, fostering innovation and creativity, contribute to the diversification of scented candles.

In December 2021, Dusk Group, an Australia-based specialty retailer of home fragrance products, acquired Eroma for $28 million, significantly expanding its online operations and strengthening its position in the home fragrance sector. Eroma, an Australia-based company specializing in scented candle kits, adds depth to Dusk's product offerings.

Major companies operating in the scented candle market report are California Exotic Novelties, Colonial Candles Inc., CoScentrix LLC, Diptyque Paris, Himalayan Trading Post Inc., Lee Naturals LLC, Magnolia Scents by Design LLC, Mel's Candles LLC, Net-a-Porter Holdings Limited, Newell Brands Inc., Northern Lights Candle Co. LLC, Amy's Country Candles LLC, BeCandle LLC, Bolsius International BV, Brandt Kaarsen BV, Bridgewater Candle Company LLC, Voluspa Inc., Paddywax Candles Inc., Nest Fragrances LLC, Homesick Candles LLC, Capri Blue Candles LLC, Chesapeake Bay Candle Company LLC, Yankee Candle Company Inc., Thymes Fragrances LLC, Mrs. Meyer's Clean Day, Trapp Candles, Illume Candles, Village Candle, Millefiori Candles, Stonewall Candle Company, WoodWick Candle Company LLC, DW Home LLC.

North America was the largest region in the scented candle market in 2023. The regions covered in the scented candle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the scented candle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main product types of scented candles include jars, pillars, tea lights, tumblers, vases, and others. Jar candles consist of wax and a wick enclosed within a capped container, allowing for easy movement while they burn and are commonly used in candle manufacturing. Raw materials involved in the production of these candles include wax, liquid dyes, soy, glass, and others. Fragrances come in various categories such as fruit, flower, spice, blends, and more. Sales channels for scented candles include online retail and offline retail.

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The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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