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Europe, Middle East & Africa Outdoor Candle Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The Europe, Middle East, and Africa outdoor candle products market was valued at USD 6.9 billion in 2021 and is expected to grow at a CAGR of 4.3% from 2022 to 2030. The resurgence of candlelight as a decorative element has been a major driver of the outdoor candle products market in this region. The market has been further driven by the rising demand for scented candles, which are gaining immense popularity among individuals. The availability of a wide range of fragrances, such as lavender, jasmine, and rose, is further propelling the demand for outdoor candles. Additionally, the use of candles for outdoor events, such as wedding ceremonies and corporate events, is also boosting the market growth.
Furthermore, the rising trend of DIY candles is driving the market. For instance, in February 2021, the DIY candle kits brand, Craft A Candle, launched in Europe. The company offers a range of unique fragrances and a variety of waxes, wicks, and colors to create custom candles. Along with this, the increasing popularity of electric candles is further bolstering the market growth. For instance, in May 2021, the electric candle manufacturer Candle Impressions launched its new line of outdoor electric candles in Europe. These candles are designed to look and flicker like real wax candles and can be used both indoors and outdoors.
The rising demand for eco-friendly candles is also driving the market growth. For instance, in May 2021, The Candle Company launched a new range of eco-friendly candles in Europe. These candles are made from natural, sustainably sourced materials and use plant-based waxes. Additionally, the health benefits associated with aromatherapy candles is also propelling the market growth. Aromatherapy candles are used to reduce stress, improve sleep, and improve overall health. Moreover, the increasing disposable incomes of consumers and the growing awareness of the benefits of using outdoor candles are further driving the market growth.
Product Insights
The Europe, Middle East & Africa outdoor candle products market is primarily driven by the growing tourism industry in the region. According to the United Nations World Tourism Organization, in 2018, the total tourist arrivals in the Europe, Middle East & Africa region was 835 million, an increase of 6% from 2017. This growth in tourist arrivals is expected to drive the demand for outdoor candle products in the region.
In addition, the increasing preference for outdoor activities is also boosting the demand for outdoor candle products in the region. According to an article published by the National Candle Association, in 2018, outdoor candle sales in the United States increased by 5.2% compared to 2017. This trend is expected to be replicated in the Europe, Middle East & Africa region as well. Moreover, the rising popularity of outdoor events such as weddings and parties is also driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of around 34.2% in 2021 in the Europe, Middle East & Africa outdoor candle products market. The growth of this segment is majorly driven by the availability of a wide range of products and brands in one place, which helps customers make quick decisions. Furthermore, supermarkets and hypermarkets offer attractive discounts and loyalty programs, thus driving their sales.
The online segment is expected to witness the highest CAGR of 14.4% during the forecast period. The growing trend of online shopping and the availability of products at discounted prices have been driving the growth of the online segment. Furthermore, several companies are launching their own online portals to increase their reach among customers. For instance, in 2021, the French-based candle manufacturer, Diptyque, launched its first-ever e-commerce platform in the Middle East and Africa. The platform will offer customers a wide range of products, including scented candles, home fragrances, and body care products.
Type Insights
The wax segment accounted for the largest revenue share of 60.3% in the year 2022. The increasing demand for decorative fragranced candles is propelling the growth of the wax segment. The growing popularity of wax candles attributed to their longer burning time and their ability to create a soothing atmosphere with their aromatic fragrances is further driving the segment growth. Also, the wide availability of wax candles in different shapes and sizes is increasing the demand for these candles. For instance, in August 2020, Nest Fragrances, a New York-based company, launched a new collection of scented candles called ‘Holiday’.
The gel segment is anticipated to expand at the highest CAGR of 10.2% over the forecast period. The increasing demand for gel candles due to their colorful appearance is propelling the segment growth. Furthermore, the availability of gel candles in different shapes, sizes, and colors is further driving the segment growth. For instance, in January 2021, Yankee Candle, a Massachusetts-based company, launched a new collection of gel candles in different shapes and colors.
Regional Insights
Europe is anticipated to hold the largest revenue share of the market in 2022. This growth is primarily driven by the rising demand for outdoor candles in France, Spain, and the UK. This can be attributed to the increasing number of households purchasing outdoor candles for their outdoor living areas. Furthermore, the increasing number of events and festivals such as festivals in the UK which take place outdoors is also contributing to the growth of the market in the region.
The Middle East & Africa region is expected to experience significant growth over the forecast period. This growth is driven by increased awareness regarding the benefits of outdoor candles such as providing mood lighting, as well as its environmental advantages. Moreover, the increasing demand for outdoor candles for outdoor living areas is further expected to drive the growth of the market in the region. Additionally, the increasing demand for gift items and decorative items is also expected to contribute to the growth of the market in the Middle East & Africa.
Financial Projections
In this part of the Europe, Middle East & Africa Outdoor Candle Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your outdoor candle products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for the outdoor candle products business comes from the sale of products, as well as any other related services such as delivery, installation and maintenance. Here you will find a list with a description of each of them.
Projecting Expenses
In this section, all the regular expenses related to keeping the outdoor candle products business running will be described. The list of operating expenses includes costs for raw materials, production, transport, marketing and advertising, administrative costs, wages and salaries, and others.
Key companies & market share insights
Some of the key companies operating in the Europe, Middle East & Africa outdoor candle market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In August 2022, Diptyque Paris launched a range of outdoor candles such as the Oud Palao, the Boho Garden, and the Turquoise Oasis.
– In September 2022, Yankee Candle launched a range of outdoor candles with scents such as Coconut Splash, Tropical Bay Breeze, and Citrus & Sage.
– In July 2022, Woodwick launched the Outdoor Escape Collection, a range of outdoor candles with scents such as Coconut Beach, Citrus & Sage, and Lavender & Cedar.
Some of the prominent players in the Europe, Middle East & Africa outdoor candle market include:
– Diptyque Paris
– Yankee Candle
– Woodwick
– Colonial Candle
– Chesapeake Bay Candle
– Paddywax
– LitLite
– Bridgewater Candle Company
– Bridgewater Candle Company
– Candle Warmers Etc.
Global Europe, Middle East & Africa Outdoor Candle Market Segmentation
This report forecasts growth at regional and country levels and provides an analysis of the latest trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global outdoor candle products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Pillar Candles
– Taper Candles
– Tealight Candles
– Votive Candles
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– Europe
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Regions in the Europe, Middle East & Africa Outdoor Candle Market?
[A]: The Europe, Middle East & Africa outdoor candle market is segmented into France, Germany, United Kingdom, Russia, Italy, Spain, Turkey, and Rest of Europe, Middle East & Africa.
[Q]: What are the Factors that are Driving the Outdoor Candle Market?
[A]: The factors driving the outdoor candle market include the increasing demand for decorative items, growing use of candles for aromatherapy, increasing consumer preference for organic products, and increasing inclination towards product customization.
[Q]: Who are the Key Players in the Europe, Middle East & Africa Outdoor Candle Market?
[A]: The key players in the Europe, Middle East & Africa outdoor candle market are Yankee Candle Company, The Candle Company, Kringle Candle, Bolsius International, NEST Fragrances, Candle Lite, and WoodWick.
[Q]: Which Product Segments are Expected to Grow?
[A]: The wax-based product segment is expected to witness significant growth over the forecast period, owing to the increasing utilization of wax for outdoor candles and the relative ease of production.
[Q]: What are the Benefits of Outdoor Candles?
[A]: Outdoor candles offer several benefits, including providing a pleasant scent, creating a relaxing atmosphere, and providing a sense of security and safety. Additionally, they are also used to create an aesthetically pleasing environment, providing a warm and inviting atmosphere.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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