The latest market report published by Credence Research, Inc. “Candles Market , By Type, distribution channel and Geography – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global candles market was valued at US$ 7,567.50 Mn in 2016, and is expected to each US$ 11,707.76 Mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
The report includes forecast and analysis for the Candles market on a global and regional level. The research gives important data of 2016, 2017 and 2018 along with a projection from 2018 to 2026 based on revenue. The study covers drivers and limitations of the Candles market along with the impact they have on the trade over the forecast period. Additionally, the report covers the study of possibilities available in the Candles market on a global level.
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Market Insight
Consumers are increasingly purchasing candles for their home decor, and for aromatherapy-like stress reduction and relaxation. The ease of purchase as well as the availability of various type of candles on multiple distribution channels is prompting more and more people to purchase these products. Proliferation in the number of distribution channels has benefited the sales through department, mass merchandise retailers and home decor stores. Supermarkets and hypermarkets are benefiting due to their discounted prices and various offers particularly attracting more and more buyers. The popularity of e-commerce has significantly increased candles sales. The ease of purchase as well as the availability of extensive information and reviews on products online is prompting more and more individuals to buy these products.
Volatility in the prices of raw materials is the major factor hampering the market growth. Paraffin is still the most widely used base material for candle production. Meanwhile in 2014 and 2015, almost 33% of paraffin production in some countries was shut down; forcing candle manufacturers to import large volumes of base material at higher prices. Increasing usage of candles in various applications provide immense opportunities to the manufacturers present in this market.
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The study research also considers many sections of the Candles Market completely on the basis of the product type and application, considering their current as well as historical performance across the globe. Moreover, the report also shows the growth trajectory of each of the sections, global as well as in each of the regional segments, representing a descriptive analysis of the overall industry.
The study paper also speaks about the present as well as upcoming ventures in the Candles Market at length, making this knowledge of special value for businesses, consultants, and stakeholders functional in this market.
Further, the report analyzes the competitive aspect of this market by reviewing the profiles of the key market participants in a bid to determine the current hierarchy.
The main purpose of this research study is to help the associates operating in the worldwide industry for Candles Market in planning active artifices and enhancing their decision-making techniques to gain a competitive edge over their challengers.
The report added new project SWOT analysis, investment feasibility analysis, and investment return analysis.
Reasons for Buying Candles market:
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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