North America Luxury Candle Market Size and Competitive Analysis by 2028
North America Luxury Candle Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Regular and Scented) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
- Status : Published
- Report Code : TIPRE00027129
- Category : Consumer Goods
- No. of Pages : 93
- Available Report Formats :
- Last update date : February 11, 2022
2021 Market Size
US$ 138.25 Mn
Base year value
2028 Forecast
US$ 190.10 Mn
Projected by 2028
CAGR 2022-2028
4.7 %
Growth rate
Addressable Market
US$ 1,167.83 Mn
(2022-2028)
The luxury candle market in North America is expected to grow from US$ 138.25 million in 2021 to US$ 190.10 million by 2028; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.
The wellness industry strongly encourages individuals to exercise self-care since it encompasses all four areas of health: mental, physical, spiritual, and emotional well-being. People, particularly teenagers and young working professionals, are finding it difficult to handle stress, which is severely influencing their overall health. Therefore, there has been an increasing emphasis on mental and emotional health in recent years. Self-care routines that are practiced daily and weekly help in calming the mind and body, aiding in stress management. This also improves mental and emotional health. Candles are an excellent way to begin practicing self-care. Scented candles are commonly used in self-care rituals such as meditation, reading, and yoga. Smells trigger profound emotional responses in the brain. Scents can improve mood, reduce stress, improve sleep, boost self-confidence, and improve physical and cognitive performance. Moreover, the dim light of candles creates a soothing effect that helps in relaxation. Clearly, lighting candles is a wonderful method to express self-love. Therefore, people are increasingly including candles in their self-care routines. Moreover, aromatherapy is gaining huge traction among people as a way of practicing self-care. Luxury candles containing wax infused with essential oils are widely being used in aromatherapy as they stimulate brain's reaction and induce the feeling of relaxation, enthusiasm, and productivity. Furthermore, people associate scents with different memories. Therefore, manufacturers are launching candles with unique fragrances that help people remember positive memories in their lives. Luxury candles are becoming an integral part of self-care routines, which is potentially driving the growth of the North America luxury candle market.The US recorded the highest number of COVID-19 confirmed cases, followed by Mexico and Canada. The crisis adversely affected the manufacturing sector in the region due to a restricted supply chain, raw material shortage, and shutdown of manufacturing units. In addition, the overall disruptions in manufacturing processes and research and development activities restrained new developments in the luxury candle market. However, because of the work from home mandates and lockdowns, people across the region began spending time inside their homes, which positively impacted the demand for home fragrance products, including luxury candles. Furthermore, the growing celebrity influence and strong foothold of e-commerce platforms in North America are projected to boost the growth of the luxury candle market across the region.
North America Luxury Candle Market Revenue and Forecast to 2028 (US$ Million)
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
North America Luxury Candle Market Segmentation
North America Luxury Candle Market – By Type
- Regular
- Scented
North America Luxury Candle Market – By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
North America Luxury Candle Market– By Country
- US
- Canada
- Mexico
North America Luxury Candle Market-Companies Mentioned
- Creed Boutique, LLC
- Diptyque
- HERMES
- Louis Vuitton
- Maison Francis Kurkdjian
- Newell Brands
- Parfums de Marly
- SISLEY
- The Estée Lauder Companies Inc.
North America Luxury Candle Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 138.25 Million |
| Market Size by 2028 | US$ 190.10 Million |
| CAGR (2021 - 2028) | 4.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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