Scented Candles Market Size, Share & Trends Analysis Report By Product (Container-Based, Pillars), By Wax Type (Paraffin, Soy), By Category, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the scented candles market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for scented candles market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of scented candles market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Scented Candles Market Categorization:

The scented candles market was categorized into five segments, namely product (Container-based, Pillar), wax type (Paraffin Wax, Soy Wax, Blended, Beeswax, Palm Wax), category (Mass, Premium), distribution channel (Supermarkets & Hypermarkets, Convenience Stores, Online), and regions (North America, Europe, Asia Pacific, Central and South America, Middle East & Africa).

Segment Market Methodology:

The scented candles market was segmented into product, wax type, category, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The scented candles market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Spain; China; India; Japan; Australia & New Zealand; Philippines; South Africa; UAE; Brazil; and Argentina.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Scented candles market companies & financials:

The scented candles market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Village Candle  - Established in 1993, Village Candle is a renowned producer and multi-faceted distributor of premium scented candles, gifts, and accessories, with its headquarters based in Maine, U.S. The company is known for its production of low-smoke candles that emit rich and unforgettable scents. Village Candle is committed to designing and distributing superior home fragrance products that captivate people with their aesthetic appeal, scent, and overall experience. It operates as a subsidiary of Stonewall Kitchen. The candles are crafted using food-grade paraffin to ensure a clean burn and are infused with fragrance. The products of Village Candle are available in gift shops, supermarkets, and online platforms across 32 countries globally. 

• Portmeirion Group PLC - Portmeirion Group PLC, a UK-based enterprise, is a global distributor of home fragrances, cookware, giftware, and glassware products. The company, which was established in 1960, has its main office in Stoke-on-Trent, England. The conglomerate is composed of six distinguished brands: Wax Lyrical, Royal Worcester, Spode, Pimpernel, Nambé, and Portmeirion. Wax Lyrical specializes in the production of scented candles that can last up to 60 hours. The company provides a wide range of candles - from the classic scents of the colony to exquisite floral fragrances. Its candle collections encompass Sophie Conran, Street Mythology, Fired Earth, Colony, and Silentnight. Fired Earth is a celebrated collection of superior tea-based fragrances. The group's six primary brands distribute products in 70 countries worldwide. As of 2020, the group employs 850 individuals globally. Portmeirion Group PLC caters to its customers from its storage facilities in the U.S., the U.K., Canada, and China. Additionally, the group retails its products through its U.K. and U.S. websites, as well as through various retail chains internationally. 

• Newell Brands  - Newell Brands is a globally recognized consumer goods corporation that boasts a robust portfolio of popular brands, which includes Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Paper Mate, Sharpie, Dymo, Parker, Elmer’s, Coleman, Marmot, Oster, Graco, Baby Jogger, NUK, Calphalon, Contigo, First Alert, Mapa, Spontex, and Yankee Candle. The company, established in 1903, has its corporate headquarters in Atlanta, U.S. Newell Brands operates through three primary segments: Food and Appliances (encompassing appliances & cookware and food divisions), Home and Outdoor Living (including home fragrances, outdoor recreation & connected home & security divisions), and Learning and Development (incorporating writing and baby & parenting divisions). Among its brands, Chesapeake Bay Candle, WoodWick, and Yankee Candle are known for their home fragrances and scented candles. Chesapeake Bay Candle provides nature-inspired fragrances that foster mindfulness and balance. WoodWick presents sophisticated fragrances and uniquely curated styles. Yankee Candle delivers candles with fragrances that offer a true-to-life experience. The products of Newell Brands are available in nearly 200 countries and are found in 90% of U.S households. The company is associated with more than 100 brands. As of 2020, Newell Brands employs a global workforce of 31,000 individuals. 

• MVP Group International, Inc.  -  Founded in 1998, MVP Group International, Inc., with its headquarters in South Carolina, U.S., is a company that specializes in the design and manufacture of a variety of branded and private label candles, candle accessories, home fragrance products, and decorative gift items for a global clientele. The company is linked with several sub-brands such as Colonial Candle, Carolina Candles, Wick, and Everyday Escapes. It is associated with over 105 companies. These brands produce scented candles, wax melts, and classic taper candles without scent. The candles come in a variety of colors including white, coral, sky blue, aqua, and butterscotch. The company employs an omnichannel sales approach. MVP Group International, Inc. operates three manufacturing and distribution facilities in the U.S., owns three manufacturing plants in India, and maintains an exclusive partnership in Vietnam. 

• Estée Lauder Companies Inc. -  Established in 1946, Estée Lauder Companies Inc. has its corporate headquarters in New York, U.S. The firm is involved in the production of a diverse array of products in four segments - skincare, makeup, fragrance, and hair care. The company markets its products under various brands including Estée Lauder, Aramis, Lab Series, Origins, Tommy Hilfiger, M·A·C, La Mer, Bobbi Brown, Donna Karan New York, Aveda, Bumble and Bumble, Michael Kors, Darphin, TOM FORD Beauty, Smashbox, Ermenegildo Zegna, AERIN, Clinique, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, Jo Malone London, KILIAN PARIS, BECCA, Too Faced, and Dr. Jart+. In 1999, Estée Lauder Companies Inc. acquired Jo Malone London. The brand offers a variety of products through different segments- scents, colognes, bath & body, and home fragrances. It produces travel candles, deluxe candles, home candles, luxury candles, and fragrance-layered candles under the home fragrances segment. Estée Lauder distributes its products across three major regions - Asia/Pacific; Europe, the Middle East & Africa; and the Americas. The company's products are accessible in more than 150 countries and territories worldwide. Moreover, the company’s offerings are sold in over 1,500 standalone stores and via more than 1,700 e-commerce platforms. 

• Diptyque Paris -  Originated in 1961, Diptyque Paris is a prestigious fragrance brand with its main office in Paris, France. The firm specializes in the creation of candles, home fragrances, and skincare products. The company was acquired by Manzanita Capital, a private equity firm based in London, in 2005. Diptyque Paris has marked 60 years of existence in the fragrance industry. The company categorizes its offerings into segments such as perfumes, candles & home fragrances, face & body treatments, and decoration. Under the candles segment, it produces a variety of candles including giant candles, small candles, colored candles, classic candles, and more. Diptyque Paris operates in more than 15 countries. The company's products are available for purchase through its official website and physical retail stores. 

• Lalique Group SA -  Established in 2000, Lalique Group SA is a worldwide purveyor of high-end goods, with its main office located in Switzerland. The firm's portfolio includes cosmetics, perfumes, crystals, jewelry, home fragrances, upscale furniture, and lifestyle accessories. The group's namesake, the Lalique brand, was initiated in 1888 in Paris, France by René Lalique, a renowned glassmaker and jewelry designer. The company's offerings are categorized into segments- Homeware, Jewelry, Perfumes, and Arts. Products for home fragrance are marketed under the Lalique brand. The 'Voyage da Perfumeur' range, which includes a series of home fragrances and decoration accessories, features scented candles. The company employs an omnichannel approach to sales. As of the year 2020, the company boasts a global workforce of 680 employees. Representative offices of the group are situated in the U.K., Germany, the U.S., China, Singapore, and Japan. 

• L Brands -  L Brands is an international corporation that specializes in the retail of lingerie, personal care and beauty items, clothing, and accessories. The company is a conglomerate of globally recognized brands such as Victoria’s Secret, PINK, and Bath & Body Works. Founded in 1963, L Brands has its corporate headquarters in Ohio, U.S. The company, under its Bath & Body Works brand, provides a range of personal care, soaps, sanitizers, and home fragrance products. It also curates exclusive fragrances for both the body and the home. Bath & Body Works offers a variety of scented candles, including single-wick and 3-wick variants, in a range of fragrances like citrus, floral, fruity, sweet, woodsy, and fresh. L Brands operates close to 2700 specialty stores in the U.S., Canada, and Greater China, and also retails its products through over 700 franchise locations globally. As of the year 2020, L Brands employs a workforce of over 92,000 individuals. 

• NEST New York  -  Established in 2005, NEST New York has its headquarters in New York, U.S. This brand is renowned for its luxury lifestyle fragrances, specializing in the design and production of scented candles and home & fine fragrances. The brand name 'NEST New York' was introduced to the world in 2008. The company boasts of over 20 home fragrance collections, featuring products like scented candles, diffusers, liquid soaps, hand lotions, and innovative liquid fewer diffusers. NEST New York's product range spans across various categories - scented candles, reed diffusers, fragrance technology, perfume oil, personal care, wellness, eau de parfum, and home accessories. Under the scented candle segment, it produces 3-wick candles, classic candles, votive candles, luxury candles, and limited-edition candles. The candles are made using food-grade paraffin wax and the wicks are a blend of cotton and paper. 

• Thymes, LLC  -  Thymes, LLC, incorporated in 1982, has its main office in Minnesota, U.S. The company's offerings are divided into two categories - Bath & Body and Home Fragrance. The Bath & Body segment includes products like bath soap, bath salts, body lotion, body wash, bubble wash, dusting powder, cologne & perfumes, and sample beauty bags. The Home Fragrance segment comprises products like candles, home care, dishwashing liquid, all-purpose cleaners, home décor, home fragrance mist, reed diffusers, refreshing oils, and wax melts. The fragrances used in Thymes’ candles are a blend of essential and synthetic oils. The candles are made using 100% food-grade paraffin wax. Thymes’ candles can be purchased in independent specialty retail stores across the U.S. and Canada, as well as on their online platform, thymes.com.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Scented Candles Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Scented Candles Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.