South Korea Candle Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Synthetic Wax, Paraffin Wax, Vegetable Wax and Animal Wax), By Category (Economical and Luxury), and South Korea Candle Market Insights, Industry Trend, Forecasts to 2035.

South Korea Candle Market Insights Forecasts to 2035

• The South Korea Candle Market Size Was Estimated at USD 218.5 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 7.57% from 2025 to 2035
• The South Korea Candle Market Size is Expected to Reach USD 487.5 Million by 2035

According to a research report published by Spherical Insights & Consulting, The South Korea Candle Market Size is Anticipated to reach USD 487.5 million by 2035, growing at a CAGR of 7.57% from 2025 to 2035. The main factors propelling market expansion include consumers' increasing inclination to make their homes and other facilities more aesthetically pleasing, which is correlated with improved economic conditions, rising living standards, and an increasing desire to measure their level of happiness.

Market Overview

A candle market is one in which price fluctuations are examined using candlestick charts. A visual representation of a security's opening, closing, high, and low prices, candlestick charts give traders insight into possible price reversals and market emotion. Customers are spending more money on scented and decorative candles as a way to improve the visual attractiveness and general ambiance of their homes. The aromatherapy benefits of scented candles, which encourage relaxation, lower stress levels, and enhance the quality of sleep, have made them popular. Innovation in materials and manufacturing techniques, such as the use of soy wax and biodegradable packaging, is being driven by the growing demand for natural and environmentally friendly candles. Programs to promote sustainable production in a variety of industries, including candles, have been introduced by the Ministry of Environment, Forests, and Climate Change. This is India’s objective to lessen its impact on the environment and its reliance on goods made from petroleum. By promoting market research and offering assistance for R&D, proactive government policies can further boost the industry's expansion.

Report Coverage

This research report categorizes the market for the South Korea candle market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea candle market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea candle market.

Driving Factors

Candles are becoming a popular option for consumers looking to create calming and welcoming environments in their homes. As more individuals look for ways to add natural and soothing fragrances to their daily lives, the usage of scented candles for aromatherapy and mood enhancement is becoming more popular. The market for soy and beeswax candles is being driven by consumers' growing awareness of the effects that products have on the environment as well as their desire for natural and sustainable solutions. Candles are being used to encourage relaxation and well-being as part of self-care routines. To accommodate a wide range of consumer preferences, manufacturers are continuously coming up with new scent blends, candle designs, and packaging.

Restraining Factors

One major issue is the availability of alternatives like LED candles, air fresheners, and essential oil diffusers. Traditional candle sales may be hampered by these substitutes, which frequently provide comparable advantages (fragrance and mood enhancement) with extra safety and usefulness. Consumers may become discouraged and seek other environmentally friendly options as concerns about the dangerous substances (soot and volatile organic compounds) released by burning candles, especially those made of paraffin wax, grow.

Market Segmentation

The South Korea candle market share is classified into material type and category.

• The paraffin wax segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea candle market is segmented by material type into synthetic wax, paraffin wax, vegetable wax, and animal wax. Among these, the paraffin wax segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. It is cost-effectiveness, simplicity of shaping into different shapes and sizes, and suitability for creating floating candles due to its water resistance. Additionally, the rapidly expanding tourism and hospitality sectors in both countries are driving the industry and increasing demand for these candles for home decor.

• The economical segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea candle market is segmented by administration into economical and luxury.  Among these, the economical segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. In celebrations, religious events, festivals, and get-togethers, inexpensive candles are essential. It creates an inviting outdoor atmosphere and has a calming effect on the mental state.

 Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea candle market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Shilla Candle Industry
• MALMOI
• Leeco Co., Ltd.
• Nana Corporation
• EcoCandle Inc.
• Cleandecosis Co., Ltd.
• CANDLE WORKS INC.
• LUCIE COMPANY
• Nonfiction
• MAUM CO.
• Artbox
• Skin Food
• Others

Key Target Audience

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

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea candle market based on the below-mentioned segments

South Korea Candle Market, by Material Type

• Synthetic Wax
• Paraffin Wax
• Vegetable Wax
• Animal Wax

South Korea Candle Market, By Category

• Economical
• Luxury