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Companies intending to establish themselves or increase their market share must strategically position themselves within the festive and fragrant Pumpkin Candles Market. This is a market that offers customers seasonal and decorative candles, especially during fall or Halloween. Manufacturers distinguish their pumpkin candles from others by using various marketing tactics to appeal to customers who value quality, fragrance, and style, among others. A key strategy involves creating new products, such as unique designs based on pumpkins, long-lasting scents, and eco-friendly ingredients. Thus, prices are very influential given the nature of seasons and gift-giving involved with these items, which ultimately affect sales performance in this industry. Some brands take up premium pricing models whereby they sell their candles as handmade stocks of high-class quality that have been intricately designed with premium fragrance oils.
The Pumpkin Candles Market heavily relies on the brand image since this is what reflects how reliable its products are visually appealing, among other things associated with it. In order to convince people that they should buy from them, companies focus on features like natural wax content, the non-toxic formula used while making them, etc. Finally, reaching out to customers within the Pumpkin Candles Market is primarily determined by distribution channels employed by the firms themselves. The retail partners selected carefully through either online retailers, specialty home decor stores, or gift shops, and other ways of selling such products often influence the final decision made by customers. E-commerce is also growing in importance as firms seek to reach a global market and respond to changing consumer interests. Brands are also able to expand their footprint by being present on mainstream online platforms and physically partnering with seasonal retailers.
Companies in the Pumpkin Candles Market continually seek fresh designs, fragrances, and sustainable components for their items; this means that they have been very innovative in doing so. For instance, some candles have crackling wooden wicks while others are pumpkin-spiced or made specifically for Thanksgiving dinner at home among such consumers with peculiar tastes. Partnerships and collaborations also play important roles in terms of market share positioning. Collaborations between interior designers, influencers, or seasonal event planners may serve as co-branded products and endorsements, thereby raising brand visibility within the marketplace through the utilization of these strategies. Furthermore, limited edition releases or exclusive retailer collaborations could create excitement among their customer bases, causing them to take interest and thus expand their businesses.
Pumpkin Candles Market Highlights:
Global Pumpkin Candles Market Overview
Pumpkin Candles Market size is projected to reach approximately USD 365.70 million by 2028, at a CAGR of 6.50% from 2021 to 2028.
Pumpkin candles are a type of spicy scented candles that help in removing unpleasant odors from one’s surroundings. These types of candles are generally made from beeswax, paraffin wax, and soy wax.
The demand for pumpkin candles is increasing owing to the rising popularity of scented candles across the world. The popularity of scented candles is growing faster than the other candles. The increasing popularity of scented candles as a home care product has led to the growing popularity of pumpkin candles.
Another key factor behind the growth of the pumpkin candles market is the rising awareness in the application of such scented candles in aromatherapies and massages. Scientifically proven facts about the key role of scented candles in physiological effects of stress, mood, working capacity, and overall mental health has further helped in increasing awareness of pumpkin candles. Increasing disposable incomes, the growth of the organized retail sector, and strong online distribution channels, especially home furnishing sites, have further resulted in the growth of the market.
The outbreak of COVID-19 has resulted in a surge in demand for pumpkin candles, especially in the western regions. With lockdown restrictions across the globe and people restricting themselves at home to restrain the growth of COVID-19, demand for pumpkin candles has surged exponentially. Â Additionally, the seasonal demand for pumpkin candles due to Halloween celebrations in western countries is expected to last long due to travel restrictions and more time spending at home. After the post-COVID-19 outbreak, many companies are experiencing increased sales of scented candles, including pumpkin candles. Net-a-Porter, an international online retailer, has witnessed a triple-digit growth rate in sales (y-o-y) since March 2020.
Market Synopsis
Global Pumpkin Candles Market has witnessed exponential growth in the last couple of months. Owing to the outbreak of a global pandemic, COVID-19, the pandemic has created lucrative growth opportunities for pumpkin candle manufacturers across the globe. As people are staying more at home due to lockdown restrictions, more focus is given to home renovation. Additionally, amidst the COVID-19 outbreak, people across the globe perceive such scented candles for creating comfort and calmness in their homes.
Market USP
The rising popularity of scented candles across the globe
Market Drivers
- The increasing popularity of scented candles: Increasing popularity of scented candles owing to their various health benefits has resulted in the growth of the pumpkin candles market. Increasing application of pumpkin candles in aromatherapies has resulted in the growth of the market.
- The rising number of global pandemics such as COVID-19
- Increasing disposable income across the globe
- Growth of the organized retail sector in developing countries
- The advent of e-commerce home furnishing platforms
Market Restraints
- Availability of popular substitutes
- Counterfeit products
Market Segmentation
By Material Type
- Beeswax
- Paraffin Wax: Paraffin wax is the most common source of material used in pumpkin candles. However, paraffin wax creates highly toxic benzene and toluene when burned. Hence, the popularity of such material types is decreasing, and manufacturers are opting for more toxin-free materials.
- Soy Wax
- Others
By Category
- Mass
- Premium: The popularity of premium pumpkin candles is anticipated to remain high during the review period. Increasing disposable income has led to the growth in the purchasing power of such premium candles across the globe. Additionally, premium candles are ideally made from beeswax or soy wax that are non-toxic. Hence, the demand for pumpkin candles of such categories is anticipated to increase during the review period.
By Distribution Channel
- Store-Based: The store-based segment has been further divided into supermarkets & hypermarkets, specialty stores, and others. Supermarkets & hypermarkets dominate the store-based distribution channels. However, the online channels are anticipated to increase the sales of pumpkin candles in the next couple of years.
- Non-Store-Based
By Region
- North America: North America accounted for a substantial share of the global pumpkin candles in 2020, owing to the presence of some of the key manufacturers of pumpkin candles in the US. Within North America, the US dominated the pumpkin candles market, followed by Canada and Mexico. Strong seasonal demand for pumpkin candles due to the celebration of the Halloween festival also resulted in significant market growth.
- Europe
- Asia-Pacific: Asia-Pacific is anticipated to remain the fastest-growing market during the review period. The presence of some of the key manufacturers and worldwide exports of scented candles are key reasons behind the regional market growth. Increasing urbanization and disposable income, the rising number of the millennial population, and the increasing awareness of home care are further anticipated to boost the pumpkin candles market growth in the region.
- Rest of the World
Key Players
- The Yankee Candle Company (US)
- Williams-Sonoma Inc. (US)
- Holly's House (UK)
- Gibson & Dehn (US)
- Anthropologie’s Boulangerie (US)
- Williams-Sonoma Inc. (US)
- C. Johnson & Son, Inc. (US)
- Bath & Body Works, LLC (US)
- C. Johnson & Son, Inc (US)
- Our Own Candle Company (Australia)
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