The North America Luxury Candle Market would witness market growth of 9.8% CAGR during the forecast period (2023-2029).
People who adore candles nowadays might want to enhance their home's décor with ornamental items. To give a luxurious appearance, candle brands add visual artistic elements to the candle vessels and packaging. These candles allow craftsmanship and end to take the spotlight in any household, whether they include vibrant colour schemes or art-inspired designs. Even though they are more expensive, many premium companies use natural and sustainable waxes like beeswax, soy, and coconut. Moreover, burning a candle for an extended period guarantees a non-toxic cleaner option.
Although a candle's wick may appear to be a little insignificant component, the choice of wick significantly impacts how well a candle burns and releases scent into a space. A clean burn at a constant, moderate temperature is what one can anticipate from a luxury candle, providing the ideal, hassle-free experience. All of it is possible with the correct wick. Each blend of fragrances, the wax used, and candle size is carefully considered while designing the wick's thickness, material composition, and braiding.
The home decor industry has expanded due to the US rapidly changing lifestyle and a growing number of housing possessions. Products like scented candles, which can improve the living area, are becoming increasingly popular. The booming real estate sector significantly contributes to the fast expansion of the home décor market. More individuals are turning to online retailers to discover items to beautify their houses.
In addition, the growth of many small enterprises is a significant trend affecting the home décor sector. There are currently more small enterprises present than ever before. Usually, these companies provide distinctive goods and services that big companies cannot. As a result, they are drawing more customers to them and promoting the expansion of the luxury candle market in the region.
The US market dominated the North America Luxury Candle Market by Country in 2022; thereby, achieving a market value of $203.5 Million by 2029, growing at a CAGR of 9.1 % during the forecast period. The Canada market is estimated to grow at a CAGR of 12.3% during (2023 - 2029). Additionally, The Mexico market would exhibit a CAGR of 11.4% during (2023 - 2029).
Based on Product, the market is segmented into Container, Pillar, Votive, Tapers and Others. Based on Distribution Channel, the market is segmented into Departmental Stores, Specialty Stores, Stand-Alone Boutiques and Online. Based on Wax Type, the market is segmented into Paraffin, Soywax, Beeswax, Palm Wax and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Luxury Candle Market is Projected to reach USD 939 Million by 2029, at a CAGR of 10.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LVMH SE, Diptyque SAS (Manzanita Capital UK LLP), Hermès International, Trudon, Ellis Brooklyn, E&B Parfums SL, LUMIRA Co Pty Ltd, Le Labo (The Estée Lauder Companies, Inc.), Byredo (PUIG, S.L.) and Fornasetti S.P.A.
By Product
By Distribution Channel
By Wax Type
By Country
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