Market Forecast by Countries (South Africa, Nigeria, Kenya, Rest of Africa), By Product Type (Votive, Container Candle, Pillars, Tapers, Others), By Wax (Paraffin, Soy Wax, Beeswax, Palm Wax, Others), By Distribution Channel (Offline, Online) And Competitive Landscape
Product Code: ETC056573 | Publication Date: Feb 2021 | Updated Date: Apr 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Africa Candle Market |
Forecast period | 2024-2030 |
CAGR | 5.7% |
Growing Sector | Aromatherapyย |
Africa Candle Market report thoroughly covers the market By Countries, By Product Type, By Wax, and By Distribution Channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Candle Market has been experiencing a noticeable growth over the past few years, driven by an increasing demand for home dรฉcor and aroma therapeutic products among consumers. The market is witnessing a shift towards more sustainable and eco-friendly products, with a growing interest in candles made from natural waxes such as soy wax, beeswax, and palm wax.
According to 6Wresearch, the Africa Candle Market size is expected to grow, reaching at a CAGR of 5.7% during the forecast period of 2024-2030. The growth of the market is propelled by an array of factors, including a rising consumer interest in home decor and an increasing demand for luxury candle products amidst the expanding middle-class population. This trend is further buoyed by a surge in aromatherapy popularity, with consumers seeking wellness and relaxation experiences within their homes. However, the market faces challenges such as high import duties on raw materials and fluctuations in wax prices, which can hamper profitability and production costs. Nevertheless, the advent of eco-friendly and sustainable products presents opportunities for the market. The growing awareness among consumers about environmental issues is driving demand for candles made from natural waxes like soy or beeswax, opening new avenues for market players. Furthermore, the expansion of e-commerce platforms in the region offers an excellent channel for manufacturers to reach a broader audience, mitigating traditional distribution challenges and tapping into the digital consumer base.
In recent years, government policies and schemes within the Africa Candle Market have been designed to bolster local manufacturing, promoting sustainability and economic growth. These initiatives include tax incentives for small and medium enterprises (SMEs) engaged in candle production, grants for adopting eco-friendly manufacturing processes, and programs aimed at enhancing export capabilities. Furthermore, several countries have launched skill development programs to train artisans in candle making, aiming to preserve traditional craftsmanship while meeting the market's modern demands.
In the evolving landscape of the Africa candle market, several key players stand out due to their innovation, sustainability efforts, and market penetration. Companies such as Yankee Candle, Bolsius International, and the South African CandlEssence have carved significant niches for themselves. These enterprises not only focus on traditional retail approaches but also leverage online platforms to widen their consumer base.
The Africa candle market is poised for substantial growth driven by increasing consumer interest in home decor and aromatherapy. Additionally, the growing awareness around sustainable and locally sourced products is expected to spur the demand for candles made with natural waxes and essences. Technology also plays a pivotal role, with advancements in e-commerce facilitating easier access to these products across the continent.
According to Shubham, Senior Research Analyst, 6Wresearch, the container candle segment is experiencing growth within the African candle market owing to the versatility and safety of container candles, making them a preferred choice for both indoor and outdoor settings.
By Distribution Channel, the online segment dominates the Africa Candle Market Share due to ease of access to a wide range of products, along with the convenience of home delivery. This growth is also fueled by the increasing penetration of internet and mobile devices, allowing consumers to explore and buy candles from online marketplaces and specialized e-stores.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Africa Candle Market Overview |
3.1 Africa Regional Macro Economic Indicators |
3.2 Africa Candle Market Revenues & Volume, 2020 & 2030F |
3.3 Africa Candle Market - Industry Life Cycle |
3.4 Africa Candle Market - Porter's Five Forces |
3.5 Africa Candle Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Africa Candle Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.7 Africa Candle Market Revenues & Volume Share, By Wax, 2020 & 2030F |
3.8 Africa Candle Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4 Africa Candle Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Africa Candle Market Trends |
6 Africa Candle Market, 2020 - 2030 |
6.1 Africa Candle Market, Revenues & Volume, By Product Type, 2020 - 2030 |
6.2 Africa Candle Market, Revenues & Volume, By Wax, 2020 - 2030 |
6.3 Africa Candle Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
7 South Africa Candle Market, 2020 - 2030 |
7.1 South Africa Candle Market, Revenues & Volume, By Product Type, 2020 - 2030 |
7.2 South Africa Candle Market, Revenues & Volume, By Wax, 2020 - 2030 |
7.3 South Africa Candle Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
8 Nigeria Candle Market, 2020 - 2030 |
8.1 Nigeria Candle Market, Revenues & Volume, By Product Type, 2020 - 2030 |
8.2 Nigeria Candle Market, Revenues & Volume, By Wax, 2020 - 2030 |
8.3 Nigeria Candle Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
9 Kenya Candle Market, 2020 - 2030 |
9.1 Kenya Candle Market, Revenues & Volume, By Product Type, 2020 - 2030 |
9.2 Kenya Candle Market, Revenues & Volume, By Wax, 2020 - 2030 |
9.3 Kenya Candle Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
10 Rest of Africa Candle Market, 2020 - 2030 |
10.1 Rest of Africa Candle Market, Revenues & Volume, By Product Type, 2020 - 2030 |
10.2 Rest of Africa Candle Market, Revenues & Volume, By Wax, 2020 - 2030 |
10.3 Rest of Africa Candle Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
11 Africa Candle Market Key Performance Indicators |
12 Africa Candle Market - Opportunity Assessment |
12.1 Africa Candle Market Opportunity Assessment, By Countries, 2020 & 2030F |
12.2 Africa Candle Market Opportunity Assessment, By Product Type, 2020 & 2030F |
12.3 Africa Candle Market Opportunity Assessment, By Wax, 2020 & 2030F |
12.4 Africa Candle Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
13 Africa Candle Market - Competitive Landscape |
13.1 Africa Candle Market Revenue Share, By Companies, 2023 |
13.2 Africa Candle Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |