Singapore Candle Market (2023-2029) | Growth, Trends, Value, Analysis, Size, Forecast, Industry, Revenue, Share, Outlook & COVID-19 IMPACT

Singapore Candle Market Synopsis

Singapore Candle Market has been growing rapidly in recent years due to the increasing popularity of scented candles and the availability of wide range of designs and fragrances in the market. The market is growing and has seen an increase in demand from both local and international buyers. Additionally, the growing tourism has led to an increase in demand for candles as souvenirs and gifts. The rising cost of living in Singapore has made many people seek out ways to create a more relaxing and comfortable environment for living. Typically, scented candles are often used to mask unpleasant smells and create a pleasant ambiance.

According to 6Wresearch, the Singapore Candle Market size is expected to grow at a higher growth rate during the 2023-2029. The growth of this market is attributed to increasing number of households, growing preference for scented candles, and a rise in disposable income. The growth of online shopping in Singapore has made it easier for consumers to purchase candles from a wide range of local and international brands. This has further boosted the popularity of candles in the Singapore. In general, the scented candles are becoming increasingly popular in Singapore due to growing awareness of the benefits of aromatherapy. The disposable income levels have been rising in recent years in Singapore due to economic growth. Also, the increasing awareness of the benefits of using natural products is propelling the growth of Singapore Candle Industry. However, the growth of the candle market in Singapore has been hindered by the lack of brick-and-mortar retail outlets that sell candles and the high cost of living in Singapore makes it difficult for many people to justify spending money on candles. Moreover, the competition from other home fragrance products such as diffusers and reed diffusers can also be a challenge for the Singapore candle market growth.

COVID-19 Impact on the Singapore Candle Market

The COVID-19 pandemic had a significant impact on Singapore candle market size and many other industries globally. The pandemic has led to changes in consumer behavior, including increased demand for products related to health and wellness. Due to the implementation of lockdowns or social distancing measures, the demand for candles has been increased as people were spending more time at home. However, the pandemic has also led to disruptions in supply chains and increased costs of raw materials, which could lead to higher prices for candles.

Market Analysis by Wax

According to Ravi Bhandari, Research Head, 6Wresearch, Soy Wax Candles are expected to dominate the Singapore Candle Market share due to their eco-friendly and sustainable nature.

Market Analysis by Distribution Channel

With the rise of e-commerce and the convenience of online shopping, the online distribution channel is expected to grow during the forecast period.

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:

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