LAMEA Soy-based Candles Market Size, Share & Trends Analysis Report By Fragrance (Scented Candles, and Unscented Candles), By Product Type, By End Use (Residential, and Commercial), By Distribution Channel, By Country and Growth Forecast, 2024 - 2031

The Latin America, Middle East and Africa Soy-based Candles Market is expected to witness market growth of 17.5% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 25.64 million units, showcasing a growth of 13.8% (2024-2031).

In the Soy-based Candles Market, the residential end-use segment represents a significant portion of the overall market, driven by consumer demand for eco-friendly and aesthetically pleasing home products. Residential consumers use soy-based candles primarily for home ambiance, decor, and wellness purposes. Soy wax candles are favored for their clean burn, longer burn time, and ability to hold and release fragrances evenly, making them ideal for creating a cozy and inviting atmosphere at home. Thus, the Saudi Arabia market is expected to utilize 3.92 million units of soy-based candles in residential uses by the year 2031.



The Brazil market dominated the LAMEA Soy-based Candles Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $175.5 Million by 2031. The Argentina market is showcasing a CAGR of 16.6% during 2024-2031. Additionally, the UAE market would register a CAGR of 15.4% during 2024-2031.

Soy-based candles offer a range of uses beyond their primary function of providing light and fragrance. Many soy candles are infused with essential oils that can have therapeutic effects, such as reducing stress, improving mood, and enhancing relaxation. This makes them popular in aromatherapy.

Additionally, soy candles are available in various shapes, sizes, and colors, making them versatile decorative elements. They are used in centerpieces, as accents in interior design, and to enhance spaces' aesthetic appeal.

In Brazil, the rising retail trade sales, as highlighted by the Brazilian government’s report, indicate a positive trend in consumer spending. This economic uplift is crucial for niche markets such as soy-based candles. The 1.0% increase in January 2024, following a 2.8% rise in the previous month and a 0.7% change in the quarterly moving average, underscores sustained growth in retail activity. This consistent growth and the 8.2% year-over-year rise in February 2023 signifies a robust retail environment. Such an environment fosters increased consumer interest in specialty products, including eco-friendly options like soy-based candles. The trend towards sustainability and natural products is gaining traction in Brazil, and the positive retail climate is likely to drive further market penetration for soy-based candles.

List of Key Companies Profiled

• POMMES FRITES CANDLE CO.
• Kerax Ltd.
• Scripted Fragrance
• Pacifica Beauty LLC
• Magnolia Stores, LLC
• Northern Lights Enterprises, Inc.
• Paddywax, LLC (DESIGNWORKS INVESTMENTS)
• Soyworx
• Stand Around Creations
• Wax & Wick

Market Report Segmentation

By Fragrance (Volume, Thousand Units, USD Billion, 2020-2031)

• Scented Candles
• Unscented Candles

By Product Type (Volume, Thousand Units, USD Billion, 2020-2031)

• Container Candles
• Pillar Candles
• Tealight Candles
• Other Product Types

By End Use (Volume, Thousand Units, USD Billion, 2020-2031)

• Residential
• Commercial

By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)

• Online Retail
• Supermarkets/Hypermarkets
• Specialty Stores
• Other Distribution Channel

By Country (Volume, Thousand Units, USD Billion, 2020-2031)

• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA