Latin America Candle Market Size & Outlook, 2022-2030
Latin America candle market, 2017-2030 (US$M)
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Latin America candle market highlights
- The Latin America candle market generated a revenue of USD 1,389.1 million in 2022.
- The market is expected to grow at a CAGR of 4.6% from 2023 to 2030.
- In terms of segment, votive was the largest revenue generating product in 2022.
- Tapers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 1,389.1 million |
| Market revenue in 2030 | USD 1,983.4 million |
| Growth rate | 4.6% (CAGR from 2022 to 2030) |
| Largest segment | Votive |
| Fastest growing segment | Tapers |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Votive, Container Candles, Pillars, Tapers |
| Key market players worldwide | Bath & Body Works Inc, The Estee Lauder Companies Inc Class A, Better Homes & Gardens Real Estate Elliott Coastal Living, Bridgewater Candle Company, Colonial Candle, Circle E Candles, Diptyque, Jo Malone London, MALIN+GOETZ, NEST New York, Yankee Candle Company, Contract Candles & Diffusers, Ellis Brooklyn, Trudon |
Other key industry trends
- In terms of revenue, Latin America region accounted for 10.8% of the global candle market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,788.7 million by 2030.
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Candle Market Scope
Candle Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America candle market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to candle market will help companies and investors design strategic landscapes.
Votive was the largest segment with a revenue share of 27.54% in 2022. Horizon Databook has segmented the Latin America candle market based on votive, container candles, pillars, tapers covering the revenue growth of each sub-segment from 2017 to 2030.
Candles are widely used in hotels, spas, restaurants, and religious places. As a result, the rising presence of such establishments across Central & South America has driven the demand for scented candles, luxury candles, aromatherapy candles, and various other candle types.
Hotel aesthetics have become an important element in enhancing consumer experience and candles play a key role in elevating the ambiances in such spaces. With the growing construction of hotels across the region, the candles market is likely to benefit from the same.
According to data released by TOP HOTEL PROJECTS in April 2021, Latin America is expected to add more than 528 hotels with at least 130,422 rooms in the coming years. In 2022 alone, 146 hotel projects with 36,143 rooms were fulfilled.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America candle market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America candle market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America candle market size, by country, 2017-2030 (US$M)
Latin America Candle Market Outlook Share, 2022 & 2030 (US$M)
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