The Europe Soy-based Candles Market would witness market growth of 13.7% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 45,870.7 thousand units, showcasing a growth of 13.8% (2020-2024).
Pillar Candles are a popular product type in the soy-based candles market, known for their cylindrical shape and versatility in design. These candles are typically made from soy wax, offering a cleaner, longer burn compared to traditional paraffin candles. Pillar candles come in various sizes, from small, decorative versions to large, statement pieces, and are often used for both aesthetic purposes and practical lighting in homes, events, and ceremonies. Therefore, the Germany market is expected to utilize 4,380.0 thousand units of pillar candles by the year 2031.
The Germany market dominated the Europe Soy-based Candles Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $634.6 Million by 2031. UK market is exhibiting a CAGR of 13% during (2024 - 2031). Additionally, The France market would experience a CAGR of 14.6% during (2024 - 2031).
The soy-based candles market has grown substantially over the past decade, driven by increasing consumer awareness about environmental sustainability and the desire for natural and non-toxic home products. Soy candles from hydrogenated soybean oil offer an eco-friendly alternative to traditional paraffin candles derived from petroleum. This shift towards more sustainable options is reflective of broader trends in consumer behaviour, where environmental consciousness plays a significant role in purchasing decisions.
Additionally, soy-based candles are versatile and find applications in various settings, including homes, spas, restaurants, and events. Their appeal lies in their clean-burning nature, which produces minimal soot compared to paraffin candles. This makes them particularly popular for indoor use, where air quality is a concern. Soy candles are a staple in home decor, used to create a warm and inviting atmosphere.
The soy-based candles market in Europe stands to benefit significantly from the demographic and policy shifts currently underway across the continent. According to Eurostat data, in 2021, the EU population was almost evenly split between predominantly urban regions (40.5%) and intermediate regions (38.7%), with the remaining 20.8% residing in predominantly rural areas. This distribution indicates a substantial urban and semi-urban consumer base, which is crucial for the market expansion of niche products like soy-based candles.
Free Valuable Insights: The Global Soy-based Candles Market will Hit USD 9.33 Billion by 2031, at a CAGR of 13.9%
Based on Fragrance, the market is segmented into Scented Candles, and Unscented Candles. Based on Product Type, the market is segmented into Container Candles, Pillar Candles, Tealight Candles, and Other Product Types. Based on End Use, the market is segmented into Residential, and Commercial. Based on Distribution Channel, the market is segmented into Online Retail, Supermarkets/Hypermarkets, Specialty Stores, and Other Distribution Channel. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Fragrance (Volume, Thousand Units, USD Billion, 2020-2031)
By Product Type (Volume, Thousand Units, USD Billion, 2020-2031)
By End Use (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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