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The Candle Industry is Growing
In 2012 for the first time and has since, a candle has been the No.1 gift for dinner parties beating the strong rivals like chocolates and flowers! Always a talking point whether it being the scent, colour, style or unique wrapping . The market continues to break into new sectors that have never been before achievable for candles. Always seen as a feminine delight, men are now seen more and more learning the new ranges and offers as new manly fragrances become fashionable and desirable as a gift, testimony of love or just worming the atmosphere nice gadget.
How Big Is the Candle Industry?
According to a study by Inkwood Research, the global industrial candle market looks likely to increase by almost fifty percent by 2024, growing from 2016’s £8008 million to £11,499.82 million, with new technologies playing an important role in stabilizing the market and balancing prices. More than 69 percent of the global wax market is in fossil-based waxes, as used in candle-making, packaging and polishes and coatings. Particularly in the Asia-Pacific regions, reduced supply of paraffin waxes has led to increased demand for synthetic and bio-based waxes. Candle sales alone in the USA. are estimated at roughly £2.5 billion a year, but this does not include accessories such as candlestick holders or melt burners. The U.S. computer industry has annual revenues of about £60 billion, again making the candle industry appear small in scale. Candles are a highly impact purchase and sales are greatly influenced by the economic climate. Roughly one-third of all candle sales take place during the Christmas holiday season. Sales in the UK follow the same sales patterns and the market is fast approaching the £600 millions. Indications are that by 2020 the UK market will top the £1 billion!
The Sweet Smell of Success
There are now several dozens of candle manufacturing companies in the UK, and small craft producers who make candles for local or international markets. The candle industry in the UK employs thousands of workers in manufacturing, distribution and sales divisions. The USA is still regarded as producing the best candles and driving force in the industry, followed very closely by the UK & Poland. The UK candle manufacturing industry is growing rapidly with new companies starting up offering niche and quality products. There are still companies trading in the UK dating back to the early 1700’s. They have changed with the times, but still maintain the uniqueness of their history and products alike.