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Global Luxury candles Market to reach USD 1078.1 million by the end of 2029.

Global Luxury candles Market Size study & Forecast, by Product (Container, Pillar, Votive, Tapers and Others) by Wax Type (Paraffin, Soywax, Beeswax, Palm Wax and Others), by Distribution Channel (Stand-Alone Boutiques, Departmental Stores, Specialty Stores and Online) and Regional Analysis, 2022-2029

Product Code: OIRHG-67029978
Publish Date: 15-05-2023
Page: 200

Global Luxury candles Market is valued at approximately USD 485 million in 2021 and is anticipated to grow with a healthy growth rate of more than 10.5% over the forecast period 2022-2029. Luxury candles are high-end candles that are typically made with high-quality, natural ingredients, and are often hand-poured and hand-crafted. These candles are typically priced higher than standard candles due to their premium quality and the luxurious experience they provide. Furthermore, consumers are becoming more conscious about the impact of their purchases on the environment and are increasingly interested in natural and sustainable products. Many premium candle brands use high-quality, natural ingredients and eco-friendly packaging, which appeals to environmentally conscious consumers. However, high cost of premium and luxury candles is expected to restrict the market expansion in coming years.

The market is primarily driven by younger generations’ increasing disposable income and willingness to invest in home décor. While candles are considerably cheaper than handbags or shoes, fashion houses are entering the market at exorbitant pricing. Gucci, for example, debuted two candle lines this year, with prices starting at USD 300. The Esotericum, XL feline head candle by the fashion company costs USD 790. Meanwhile, Louis Vuitton sells USD 185 candles with little leather handles. Designers such as YSL and Margiela offer slightly more affordable items in the USD 60 to USD 80 bracket. Moreover, as per Global Wellness Institute (GWI) the spa industry is experiencing rapid growth, with the Global Wellness Institute predicting it to reach a value of USD 128 billion by 2022. The top five markets driving this growth are the United States, China, Germany, Japan, and France. This growth presents a significant opportunity for luxury candle brands, as the popularity of aromatherapy in spas has created a demand for high-quality scented candles that can be used to enhance the spa experience. Essential oils such as lavender, tea tree, peppermint, and lemon are commonly used in aromatherapy, and there are many luxury candle options available in these popular scents, which allows spa-goers to continue their relaxation and wellness journey at home.

The key regions considered for the Global Luxury candles Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe currently holds a dominant position in the global luxury candle market, accounting for approximately 35.9% of the market’s revenue in 2022. This is partly due to the presence of several popular luxury candle brands that are based in Europe, such as Jo Malone London. Jo Malone candles are renowned for their high quality and luxurious fragrances and are often sold in bulk with an average price of USD 485. Luxury candles are not just viewed as a commodity, but rather to enhance the overall experience of relaxation and well-being. The pleasing fragrances of these candles are valued by consumers for their ability to relieve stress and anxiety. Additionally, the colder climate of many European countries has contributed to the growth of the market, as luxury candles provide a warm and cozy ambiance that is particularly appealing in these regions.

Major market player included in this report are:
Byredo
Diptyque Paris
Jo Malone London
Fornasetti S.P.A.
c.f.e.b. SISELY
Eight & Bob
LUMIRA Co Pty Ltd
Le Labo
Trudon
Ellis Brooklyn

Recent Developments in the Market:
Ø In 2021, French luxury fashion house Dior launched a new collection of scented candles called the “Dioramour” collection. The collection features five candles with unique fragrances, and each candle is housed in a decorative ceramic jar adorned with motifs inspired by love.
Ø In 2020, luxury fashion brand Louis Vuitton partnered with master perfumer Jacques Cavallier Belletrud to launch a collection of five high-end scented candles. The candles feature fragrances inspired by travel destinations such as California, Tokyo, and the African savannah.
Ø In 2019, British luxury brand Burberry launched a collection of scented candles inspired by the brand’s signature scents. The collection includes three candles, each housed in a glass jar with a lid adorned with the Burberry check pattern.
Global Luxury candles Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, wax type, distribution channel, region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Container
Pillar
Votive
Tapers
Others

By Wax Type:
Paraffin
Soywax
Beeswax
Palm Wax
Others

By Distribution Channel:
Stand-Alone Boutiques
Departmental Stores
Specialty Stores
Online

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Luxury Candle Market, by Region, 2019-2029 (USD Million)
1.2.2. Luxury Candle Market, by Product , 2019-2029 (USD Million)
1.2.3. Luxury Candle Market, by Wax Type, 2019-2029 (USD Million)
1.2.4. Luxury Candle Market, by Distribution Channel, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Luxury Candle Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Luxury Candle Market Dynamics
3.1. Luxury Candle Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Growing demand for natural and sustainable products
3.1.1.2. Increased focus on wellness and self-care
3.1.2. Market Challenges
3.1.2.1. High Cost of Luxury Candles
3.1.3. Market Opportunities
3.1.3.1. Rising popularity of aromatherapy
Chapter 4. Global Luxury Candle Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Luxury Candle Market, by Product Outlook
6.1. Market Snapshot
6.2. Global Luxury Candle Market by Product Outlook, Performance – Potential Analysis
6.3. Global Luxury Candle Market Estimates & Forecasts by Product Outlook 2019-2029 (USD Million)
6.4. Luxury Candle Market, Sub Segment Analysis
6.4.1. Container
6.4.2. Pillar
6.4.3. Votive
6.4.4. Tapers
6.4.5. Others
Chapter 7. Global Luxury Candle Market, by Wax Type
7.1. Market Snapshot
7.2. Global Luxury Candle Market by Wax Type, Performance – Potential Analysis
7.3. Global Luxury Candle Market Estimates & Forecasts by Wax Type 2019-2029 (USD Million)
7.4. Luxury Candle Market, Sub Segment Analysis
7.4.1. Paraffin
7.4.2. Soywax
7.4.3. Beeswax
7.4.4. Palm Wax
7.4.5. Others
Chapter 8. Global Luxury Candle Market, by Distribution Channel
8.1. Market Snapshot
8.2. Global Luxury Candle Market by Distribution Channel, Performance – Potential Analysis
8.3. Global Luxury Candle Market Estimates & Forecasts by Distribution Channel 2019-2029 (USD Million)
8.4. Luxury Candle Market, Sub Segment Analysis
8.4.1. Stand-Alone Boutiques
8.4.2. Departmental Stores
8.4.3. Specialty Stores
8.4.4. Online
Chapter 9. Global Luxury Candle Market, Regional Analysis
9.1. Luxury Candle Market, Regional Market Snapshot
9.2. North America Luxury Candle Market
9.2.1. U.S. Luxury Candle Market
9.2.1.1. Product Outlook breakdown estimates & forecasts, 2019-2029
9.2.1.2. Wax Type breakdown estimates & forecasts, 2019-2029
9.2.1.3. Distribution Channel breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Luxury Candle Market
9.3. Europe Luxury Candle Market Snapshot
9.3.1. U.K. Luxury Candle Market
9.3.2. Germany Luxury Candle Market
9.3.3. France Luxury Candle Market
9.3.4. Spain Luxury Candle Market
9.3.5. Italy Luxury Candle Market
9.3.6. Rest of Europe Luxury Candle Market
9.4. Asia-Pacific Luxury Candle Market Snapshot
9.4.1. China Luxury Candle Market
9.4.2. India Luxury Candle Market
9.4.3. Japan Luxury Candle Market
9.4.4. Australia Luxury Candle Market
9.4.5. South Korea Luxury Candle Market
9.4.6. Rest of Asia Pacific Luxury Candle Market
9.5. Latin America Luxury Candle Market Snapshot
9.5.1. Brazil Luxury Candle Market
9.5.2. Mexico Luxury Candle Market
9.6. Rest of The World Luxury Candle Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Byredo
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. Diptyque Paris
10.2.3. Jo Malone London
10.2.4. Fornasetti S.P.A.
10.2.5. c.f.e.b. SISELY
10.2.6. Eight & Bob
10.2.7. LUMIRA Co Pty Ltd
10.2.8. Le Labo
10.2.9. Trudon
10.2.10. Ellis Brooklyn
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Market driving trends and favorable economic conditions
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