Australia Candle Market (2022-2028) | Forecast, Size, Analysis, Trends, Value, Revenue, Outlook, Growth, Industry, Share, Segmentation & COVID-19 IMPACT

Australia Candle Market Synopsis

The Australia Candle Market is rising at a faster pace and it is estimated to evolve during the forecast period with the growing demand for candles from consumers, manufactures in the nation ensures they meet the requirements of their consumers in each possible way.

According to 6Wresearch, the Australia Candle Market size is expected to grow during 2023-2029. The key growth factors driving the Candle Market in Australia are the rise the number of people using scented candles, growth in per capita disposable income, as well as growth in the tourism sector. There is a rising popularity of using candles in the country as a source of ambiance and decoration. In the nation, candles are now used in multiple settings such as homes, restaurants, hotels, and offices. It has created a demand for designer-oriented and more sophisticated candles. The number of people interested in buying natural and eco-friendly products is increasing, which in turn, is driving the demand for candles in Australia. This factor has led to rise in demand for soy candles as they are made from renewable resources and they are considered to be environment friendly than conventional paraffin candles. The industry is also driven by the growing disposable income levels of people. Since consumers have more money, they are wiling to buy products like candles that are seen as indulgent or luxurious.

This sector is the major part of the Asia Pacific Candle Market.  There are a number of challenges facing the market in the nation. The competition from overseas markets is growing and these competitors are able to make candles at a low cost and it has put stress on manufacturers in Australia to reduce the cost of their candles to remain competitive. Environmental regulation is another challenge the sector is facing. Decline in the spending power of consumers is another major challenge restricting the growth of the market. The market is projected to come out of these challenges in the future.

COVID-19 Impact on Australia Candle Industry

During the pandemic, majorly all the sectors were suffering from economic crises, and virus spread also led to an adverse effect on the Australia Candle Market share. Nation-wide lockdown was imposed by Australian government in order to prevent as well as control the virus spread, which resulted into huge disruptions in supply chain of essential raw materials and cause significance disturbance in the production cycle.

Restraints were imposed by the country’s government on hotels and events which led to a down fall in demand of candles in the country since candles are majorly used for decoration in events and hotels like marriage. The demand for candles remained the same even when the restrictions were removed by the government as people were avoiding to visit hotels and restaurants owing to the fear of virus spread. The sector is now evolving again and it will grow effortlessly in the years to come.

Market Analysis by Product Type

Based on product type, the Candles Market in Australia is fragmented into Votive, Container Candle, Pillars, Tapers, and Others. Out o these, the tapers segment is anticipated to register the highest CAGR during the forecast period.

Market Analysis by Wax

Based on wax, the industry in Australia is fragmented into Paraffin, Soy Wax, Beeswax, Palm Wax, and Others. Out of these, the Beeswax is projected to register significant CAGR from 2023 to 2030. The growing importance of wellness and sustainability is promoting the usage of these candles in the country.

Market Analysis by Distribution Channel

Based on distribution channel, the market is fragmented into Offline, and Online. The online segment is projected to grow in the coming years. Rapid digitalization in the country is driving this segment in the nation. The rising number of millennials opting for self-care is driving the sales of products via online portals.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia Candle Market Outlook
• Market Size of Australia Candle Market, 2022
• Forecast of Australia Candle Market, 2029
• Historical Data and Forecast of Australia Candle Revenues & Volume for the Period 2019 - 2029
• Australia Candle Market Trend Evolution
• Australia Candle Market Drivers and Challenges
• Australia Candle Price Trends
• Australia Candle Porter's Five Forces
• Australia Candle Industry Life Cycle
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Votive for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Container Candle for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Pillars for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Tapers for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Wax for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Paraffin for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Soy Wax for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Beeswax for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Palm Wax for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Offline for the Period 2019 - 2029
• Historical Data and Forecast of Australia Candle Market Revenues & Volume By Online for the Period 2019 - 2029
• Australia Candle Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Wax
• Market Opportunity Assessment By Distribution Channel
• Australia Candle Top Companies Market Share
• Australia Candle Competitive Benchmarking By Technical and Operational Parameters
• Australia Candle Company Profiles
• Australia Candle Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Votive
• Container Candle
• Pillars
• Tapers
• Others

By Wax

• Paraffin
• Soy Wax
• Beeswax
• Palm Wax
• Others

By Distribution Channel

• Offline
• Online