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.
