San Francisco, 24 June 2021: The Report Europe, Middle East & Africa Outdoor Candle Market Size, Share & Trends Analysis Report By Wax Type (Paraffin, Soy), By Distribution Channel (Online, Offline), By Country, And Segment Forecasts, 2021 – 2028
The Europe, Middle East & Africa outdoor candle market size is anticipated to reach USD 624.7 million by 2028, registering a CAGR of 3.9% over the forecast years, according to a new report by Grand View Research, Inc. Outdoor candles have a great significance in celebrations, religious ceremonies, get-togethers, and festivals. They not only provide lighting and create a beautiful ambiance for the festival season but can also have a calming effect on the mind. According to a blog post by Affiliate UNguru, 35% of all candle sales take place during Christmas. In addition, theme-based outdoor parties, events, and weddings have been contributing to the product demand.
Over the past few years, consumers have been gaining interest in home gardens, patio constructions, and creating a green and comfortable outdoor atmosphere that can be used for outdoor cooking and partying. This trend also presents a lucrative growth opportunity for the market in the residential sector. Moreover, a variety of products containing various essential oils can help in keeping bugs and mosquitoes at bay, which also boosts the overall demand in residential as well as commercial applications.
Many manufacturers are focusing on importing candles from countries, such as China, India, and Vietnam, due to low product prices. As per the European Candle Association, imports from China and other low-cost countries, such as India or Vietnam, have witnessed an increase since antidumping duties were stopped four years ago.
According to the European Commission, in 2018, the import of candles from non-EU countries came mainly from China (€237 million, or 66% of extra-EU imports of candles), the United States (€61 million, 17%), and Vietnam (€24 million, 7%), followed by India (€16 million, 4%), Switzerland and Ukraine (each €4 million, 1%), the Dominican Republic (€3 million, 1%), and Thailand and Hong Kong (each €2 million, 1%). Almost two-thirds of EU candle exports went to three countries namely, Switzerland (€43 million, or 23% of extra-EU exports of candles), Norway (€41 million, 22%), and the United States (€34 million, 18%), followed by Russia (€9 million, 5%), China (€5 million, 3%), Iceland and Ukraine (each €4 million, 2%), and the United Arab Emirates (€3 million, 2%).
The soy wax type segment is estimated to register the fastest CAGR from 2021 to 2028 due to the high demand for soy wax candles as they are completely plant-based, which makes them a renewable resource. A lot of consumers are abstaining from consuming any animal products. Most soy wax candles are made without the use of stearic acid (animal-based), which is used to harden the wax. Soy wax is derived from soybean. It is a hydrogenated vegetable that solidifies at room temperature. Soy wax does not contain anything artificial, which makes it a better alternative to paraffin wax. These factors are expected to boost the segment growth over the forecast years.
The online distribution channel segment is estimated to record the fastest CAGR from 2021 to 2028. Online channels include aggregators as well as manufacturer-hosted e-commerce sites. Manufacturers have realized the potential of online sales channels and thus, host their shopping websites to better cater to rising demand and improve profit margins. Third-party sellers sell products of major manufacturers as well as local producers. They excel by establishing a strong supply chain that extends geographical borders. Thus, when customers want to buy from international players that might not be available in a certain country, third-party suppliers offer the perfect solution.
Access Research Report of Europe, Middle East & Africa Outdoor Candle Market @ https://www.grandviewresearch.com/industry-analysis/emea-outdoor-candle-market
Europe, Middle East & Africa Outdoor Candle Market Report Highlights
- The overall market is expected to register a CAGR of 3.9% from 2021 to 2028
- The paraffin wax type segment accounted for the largest share of over 75.0% in 2020 and is expected to expand at a CAGR of 4.0% over the forecast period of 2021 to 2028
- However, the soy wax segment is expected to record the fastest CAGR over the forecast period
- The offline distribution channel segment accounted for the largest revenue share of more than 79.4% in 2020
- Germany led the overall market accounting for the largest revenue share of over 25.0% in 2020
List of Key Players of Europe, Middle East & Africa Outdoor Candle Market
- The White Company
- Stennah & Hope Ltd.
- Scent Perfique
- Duffy and Scott Candlemakers Ltd.
- Engles Kerzen
- Gala Group GmBH
Access Press Release of Europe, Middle East & Africa Outdoor Candle Market @ https://www.grandviewresearch.com/press-release/emea-outdoor-candle-market-analysis
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