Pumpkin Candles Market Scope:
Market Research Future (MRFR) affirms that the pumpkin candles market in 2020 was worth USD 365.70 million. MRFR adds that the market share can increase at a rate of 6.50% between 2021 and 2028.
Top Boosters and Key Restraints:
The Pumpkin Candles Market Insights stands to benefit from the soaring awareness about the various use of the product in aromatherapies as well as massages. Scented candles market has been making huge profits worldwide, given the expanding application scope in several therapeutic procedures and the mounting number of people taking interest in meditation and yoga. This is deemed to be favorable for the pumpkin candles industry in the following years. Besides, players are focusing on integrating essential oils in pumpkin candles for more fragrance that re-energizes the spirit.
A rising number of millennials worldwide are becoming homeowners, with emerging interest in adding a personal note to the décor and the ambience. As a result, they are increasingly buying luxury items like pumpkin candles to establish a personalized tone at home. The availability of these candles in a variety of colors add to the appeal of the space while different designs and fragrance enhance the warmth of the home environment. In view of these factors, the demand and sales of pumpkin candles are bound to escalate robustly in subsequent years.
Material type, category and distribution channels are the key Pumpkin Candles Market segments considered in the MRFR report.
Beeswax, soy wax, paraffin wax, and others are the key material types of pumpkin candles available in the global market. Beeswax candles are known to have the highest melting point out of all the types, which leads to an extremely long burn period. Despite their significant costs, beeswax candles garner high demand on account of their longer burning time.
Category-wise, the segments include premium and mass. Premium category of pumpkin candles has taken the lead in the market and generates massive demand thanks to the rising purchasing capacity of people. Moreover, premium pumpkin candles are made of soy wax or beeswax, which are primarily non-toxic and therefore, witness booming sales across the world.
Store-based and non-store based are the major distribution channels considered in the report. Store-based channels in the market are supermarkets & hypermarkets along with specialty stores, and more. The top segment is supermarkets & hypermarkets while the none-based or online channels can achieve a faster growth in the near future.
Geographically, the Pumpkin Candles Market Outlook can be divided into Europe, North America along with Asia Pacific (APAC) and the rest of the world or RoW.
North America attained the leading position in 2019, garnering the highest share in the global market for pumpkin candles. The region houses several players that manufacture a variety of pumpkin candle. The US has emerged as a profitable market in recent years, with Canada and Mexico following suit. Robust seasonal demand owing to Halloween and the high awareness level about the use of pumpkin candles in massages and aromatherapies have added considerably to the market value in the region. Pumpkin candles are seen as essential items during therapeutic procedures as they help create a relaxing atmosphere, and are therefore, generating demand among people interested in meditation and similar activities.
Asia Pacific is touted to procure the fastest CAGR in subsequent years, thanks to the soaring number of manufacturers of scented candles as the demand escalates. The demand is significantly high among the exploding urban population with rising disposable incomes. The growth in the millennial consumers and surging focus on home care should also foster the sales of pumpkin candles in the ensuing years. Consumers in India and Japan are increasingly adopting luxury lifestyles and are therefore, opting for aesthetic products that improve the décor and the ambience of their homes. Expansion of the middle-class population with growing preference for dine-out joints that have luxury decorations can also enhance the market share over the following years.
Bath & Body Works, LLC (US), Our Own Candle Company (Australia), Holly's House (UK), Gibson & Dehn (US), Anthropologie’s Boulangerie (US), The Yankee Candle Company (US), C. Johnson & Son Inc. (US), Williams-Sonoma Inc. (US), C. Johnson & Son, Inc (US), Williams-Sonoma Inc. (US) are profiled in the MRFR report as the most eminent companies in the pumpkin candles industry.
September 2020: The Yankee Candle company (US) introduced its latest limited-edition pumpkin candle collection for Halloween. Named Pumpkin Patch, the new range boasts of a fragrance that appeals to wanting to add spiciness to their Halloween celebrations, especially indoors.
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