Global Luxury Candle Market Size To Exceed USD 968.32 Million By 2033: Market Growth Report

Global Luxury Candle Market Size To Exceed USD 968.32 Million By 2033

According to a research report published by Spherical Insights & Consulting, The Global Luxury Candle Market Size is Expected to Grow from USD 538.21 Million in 2023 to USD 968.32 Million by 2033, at a CAGR of 6.05% during the forecast period 2023-2033.  

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Luxury Candle Market Size, Share, and COVID-19 Impact Analysis, By Type (Scented and Non-Scented/Decorative), By Fragrance (Floral and Fruity & Citrus), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

The global luxury candle market refers to the industry that focuses on luxury, outstanding candles made using superior ingredients, attractive designs, and enhanced appearance. Luxury candles represent style, calm, and satisfaction, and are employed as a source of light or fragrance in addition to being lifestyle and décor products. Key driving factors for the growth of the luxury candle market include the demand for high-end candles as ornamental and lifestyle items have surged due to growing consumer interest in interior design and home décor. Luxurious candles infused with calming scents and essential oils have become increasingly popular as wellness, aromatherapy, and self-care practices gain more attention. Furthermore, upscale candles are growing more and more popular as presents for corporate events, weddings, and holidays. However, the global luxury candle market's expansion is constrained by high production costs, dependence on premium raw materials, limited affordability for extremely price-conscious consumers, and the availability of counterfeit or substandard competitors.

The scented segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.

On the basis of type, the global luxury candle market is divided into scented and non-scented/decorative. Among these, the scented segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is attributed to increasing demand for aromatherapy, aesthetic appeal, luxury providing, disposable incomes, eco-friendly tastes, product innovation, and the powerful impact of home décor enthusiasts and social media.

The floral segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

On the basis of fragrance, the global luxury candle market is divided into floral and fruity & citrus. Among these, the floral segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segment growth is driven by growing interest in aromatherapy and wellness since particular fragrances, including lavender and jasmine, promote emotional well-being, stress reduction, and better sleep.

North America is anticipated to hold the largest share of the global luxury candle market over the predicted timeframe.

North America is anticipated to hold the largest share of the global luxury candle market over the predicted timeframe. The regional market growth is driven by strong brand recognition, increasing demand for high-end and wellness-focused products, and increased consumer expenditure on home décor. The industry is expanding and the demand for luxury scented candles continues to be increased by the region's growing emphasis on aromatherapy, gifting culture, and sustainable, artisanal products.

Asia Pacific is expected to grow at the fastest CAGR in the global luxury candle market during the forecast period. The regional market growth can be attributed to urbanization, growing interest in wellness and home décor, and rising disposable incomes.  The demand for luxurious scented candles is being prompted by the increasing acceptance of aromatherapy, the growth of e-commerce platforms, and the impact of Western lifestyle structure.

Company Profiling

Major vendors in the global luxury candle market are Bridgewater Candle Company, Jo Malone London, L'Artisan Parfumeur, Céline, Loewe, Le Labo, Diptyque S.A.S., Byredo, Penhaligon’s Ltd., L'OBJET, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In July 2023, Magnolia launched an exclusive luxury candle range. Candles would be a magical way of enhancing spaces with their glow and aroma. These candles inspired by particular floral fragrances, given your florist background. These eco-friendly, vegan candles feature cotton wicks and come in nature-inspired scents like Bluebell and Jasmine Flower. They offer long burn times and clean combustion.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global luxury candle market based on the below-mentioned segments: 

Global Luxury Candle Market, By Type

• Scented
• Non-Scented/Decorative

Global Luxury Candle Market, ByFragrance

• Floral
• Fruity & Citrus

Global Luxury Candle Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa