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The scented candle industry has experienced substantial growth in the past decade due to various factors. One primary driver of this expansion is the increasing adoption of scented candles as a homecare product. The upward trajectory of per capita disposable incomes has significantly influenced consumer spending habits. As disposable incomes rise, consumers show a greater inclination to invest in home furnishings, with candles being a notable beneficiary of this trend. This heightened interest in home decor is anticipated to fuel the demand for scented candles.
Moreover, scented candles have found extensive use in aromatherapy, a practice associated with various health benefits. Aromatherapy applications encompass pain management, cardiovascular disease treatment, insomnia relief, and addressing colds and coughs. The global aromatherapy market has witnessed substantial growth in recent years, propelled by increasing consumer awareness about health. Lifestyle diseases are on the rise, contributing significantly to the surge in demand for aromatherapy. Additionally, consumers' preference for the therapeutic application of essential oils is poised to be a key driver for the aromatherapy market's growth. Scented candles, being crafted with essential oils, offer a range of aromatherapeutic properties. Essential oils play a dual role in these candles, eliminating unwanted odors and promoting overall health and well-being.
According to an analysis by MRFR, the global aromatherapy market reached a valuation of USD 1.31 billion in 2019, and it is forecasted to maintain a Compound Annual Growth Rate (CAGR) of 8.73% during the forecast period from 2020 to 2026.
These factors collectively contribute to the optimistic outlook for the global candles market in the foreseeable future. The convergence of rising disposable incomes, heightened consumer spending on home-related products, and the expanding popularity of aromatherapy positions scented candles as a favored choice among consumers. As the demand for products that enhance both the aesthetic and therapeutic aspects of living spaces continues to grow, the scented candle market is expected to thrive in the coming years.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Growing acquisition by key players |
| Market Dynamics | Growing airborne diseases Increasing population across the Urban Area |
Air Care Market Highlights:
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