Business Vietnam and Philippines Candles Market wasimark March 25, 2025 0 Comments

Vietnam and Philippines Candles Market is Projected to Grow at a considerable CAGR from 2022-2027 | MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Vietnam and Philippines Candles Market, The Vietnam and Philippines Candles Market is projected to grow at a considerable CAGR during the forecast period, i.e., 2022-27. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Vietnam and Philippines Candles Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2022-2027
CAGR (2022-2027): considerable

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Vietnam and Philippines Candles Market Segmentation Breakdown:

The Vietnam and Philippines Candles Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Candle Type

Pillar Candle
Taper Candle
Votives
Tea lights
Floaters

By Raw Material

Paraffin Wax
Soy Wax
Gel Wax
Beeswax
Palm Wax
Others

Of all raw materials, Paraffin Wax dominated the Vietnam & Philippines Candles Market with the largest share in the previous few years, principally due to its easy molding ability into different shapes & sizes, cost-effectiveness & affordability, and suitability to make floating candles owing to its water resistance.

By Price Range

Low
Medium
High

By Distribution Channel

Online
Offline
- Specialty or Gift Shops
- Home Decor Stores
- Others

Here, online channels are expecting the fastest growth in the Vietnam & Philippines Candles Market during 2022-27.

Key Driver: Mounting Demand for Candles for Home Decor

The growing interest of people in enhancing aesthetics, coupled with therapeutic & relaxing effects, is anticipated to play a crucial role in driving the Vietnam & Philippines Candles Market during 2022-27. Besides, improving disposable income & changing living standards of people are other prominent aspects expected to boost the sales of candles across Vietnam & Philippines and promote the overall market growth in the years to come.

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A Comprehensive Analysis of Leading Companies in Vietnam and Philippines Candles Market

Alice Blue Candle
Bath and Body Works Direct, Inc.
Creative Lights Viet Nam Corporation
Caro Candles Company Limited
Doc’s Candles
Fleming International Vietnam Ltd.
Happy Island Candle Co.
Nguyen Quang Minh Candle
Peony Home
Universal Candle Vietnam Corporation
Vietnam International Victory Co. Ltd.
Vayao Wax Manufacturing Inc.
Yankee Candle
Others

Possible Restraint: Growing Availability of Alternate Scented Candles

With increasing concerns over the bad indoor air while burning candles, consumers are gradually shifting toward adopting safer alternatives to fulfill their aromatic desires for a pleasant ambiance. It, in turn, is infusing the demand for oils & spices and might negatively impact the growth of the Vietnam & Philippines Candles Market during 2022-27.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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