PUBLISHER: Grand View Research | PRODUCT CODE: 1529891
PUBLISHER: Grand View Research | PRODUCT CODE: 1529891
The global candle making kit market size is expected to reach USD 796.3 billion by 2030, registering to grow at a CAGR of 4.7% from 2024 to 2030 according to a new report by Grand View Research, Inc. This growth is primarily attributed to the surging consumer engagement in DIY activities and artistic hobbies. Moreover, these kits are favored for gifting and home decor, propelling their appeal as creative and considerate gift options, consequently contributing to the market's expansion.
The COVID-19 pandemic confined individuals to their homes, driving a notable rise in the demand for candles and home decor items. This trend is poised to drive the need for candle making kits.The ascent of self-care and wellness trends grew further post lockdown period, and it has resulted in the demand for candles, subsequently fueling the demand for candle making kits.
The Gifts World Expo conducted in India in August 2023 emphasized the prevailing gifting trends of personalization and experiential gifting. Candle making kits directly align with the experiential gifting trend by providing recipients with an interactive and creative activity. The growing demand for candle making kits can be attributed to trends such as surging interest in experiential gifting, home decor, and demand for personalized presents.
Candle making kits are predominantly used by household DIY enthusiasts. These kits are favored for providing leisure, creative outlets, and personalized gift options. The rising interest in DIY activities for home decor has accelerated the demand for candle making kits within households. A Blinds Direct survey in August 2021 revealed that 58% of 18-24-year-olds aim to update their home decor, while 21% feel more satisfied with their living spaces compared to a year prior. This growing focus on home improvement is expected to drive the demand for candle making kits.
North America accounted for a revenue share of 33.6% in 2023 owing to personalization, home decor, and gifting trends. Candles thrive during holidays for personalized gifting and thematic decor. The rise in gifting and personalization trends propels consumers towards kits for crafting customized presents. Furthermore, Europe is poised to grow at a CAGR of 5.5% from 2024 to 2030, driven by a surging interest in DIY projects. The U.K. and Germany exhibit a keen interest in DIY activities which contributes to candle making kit demand.
The global market features numerous small and medium-sized companies, resulting in a moderately fragmented landscape. Key players are focusing on launching products aligned with the eco-friendly trend, such as soy and beeswax options, driven by emission concerns from traditional candles. For instance, Candlewic expanded its offerings in August 2023 to include all-natural soy waxes, meeting the demand for sustainable candle making.
8.3.1.2.1. Key country dynamics
8.3.1.2.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.1.3.1. Key country dynamics
8.3.1.3.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.1.4.1. Key country dynamics
8.3.1.4.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.2.2.1. Key country dynamics
8.3.2.2.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.2.3.1. Key country dynamics
8.3.2.3.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.2.4.1. Key country dynamics
8.3.2.4.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.2.5.1. Key country dynamics
8.3.2.5.2. Market estimates and forecast, 2018 - 2030, (USD Million)
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8.3.2.6.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.2.7.1. Key country dynamics
8.3.2.7.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.3.2.1. Key country dynamics
8.3.3.2.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.3.3.1. Key country dynamics
8.3.3.3.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.3.4.1. Key country dynamics
8.3.3.4.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.3.5.1. Key country dynamics
8.3.3.5.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.4.2.1. Key country dynamics
8.3.4.2.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.5.2.1. Key country dynamics
8.3.5.2.2. Market estimates and forecast, 2018 - 2030, (USD Million)
8.3.5.3.1. Key country dynamics
8.3.5.3.2. Market estimates and forecast, 2018 - 2030, (USD Million)