PUBLISHER: Grand View Research | PRODUCT CODE: 1529892
PUBLISHER: Grand View Research | PRODUCT CODE: 1529892
The global candle holder market was valued USD 3.27 billion in 2030 and is expected to grow at a CAGR of 7.4% over 2024 to 2030, according to a new report by Grand View Research, Inc. The market's growth is primarily driven by the rising consumer interest in homeware and home decor, particularly post-COVID-19. The demand for candle holders is fueled by the growing popularity of candles for creating a cozy ambiance in households, hotels, and spas. The increasing sales of decorative gifts such as candles and candle holders also contribute to the market's expansion. The pandemic's impact has led to a surge in demand for candles and home decor products, further driving the interest in candle holders.
The increasing preference for decorative home accessories to enhance living spaces is boosting the demand for aesthetically pleasing candle holders. Designers and architecture professionals are also contributing to innovation, creating holders with high aesthetic value, such as the Rotonda candle holders made from white waste marble. The focus on sustainable materials presents growth opportunities for the market.
The market growth is restrained by shifting consumer preferences towards alternative lighting options and modern decorative items, such as LED candles and flameless holders. The rising demand for substitutes may limit the traditional candle holder market's growth.
The rising demand for modern designs is driven by their versatility, space efficiency, and alignment with evolving consumer preferences and interior design trends. Celebrities and influencers, such as drummer Travis Barker's collaboration with Buster + Punch for the Skull Collection, play a role in setting trends and attracting interest from their fan base and followers. The influence of social media and celebrities contributes to the growing interest in modern styles and functionality.The shift towards minimalist and functional designs is projected to fuel the growth of minimalist styles in the candle holder market.
The global candle holder market is moderately fragmented, with the presence of various small and medium-sized companies, as well as large key players. Companies are focused on increasing their clientele through new product launches and innovative designs. Seasonal launches have become a common practice among companies, with product releases aligned with specific seasons, festivals, and events to capitalize on consumer preferences and demand.