Improving Economic Conditions & Living Standards Drive the Vietnam & Philippines Candles Market

The Vietnam & Philippines Candles Market is projected to grow at a considerable CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. With improving living standards, people across Vietnam & Philippines are increasingly purchasing candles for different applications like religious purposes or setting a soft, warm, or romantic ambiance during power failures. Besides, organic candles are also witnessing a burgeoning demand owing to their benefits like reduced carbon emissions, cleaner & longer burning, no blackening of walls or furniture, etc. Hence, these aspects are driving the candles market across Vietnam & Philippines.

In addition, the accelerating demand for candles, especially among the female population, for enhancing the aesthetic appeal of different facilities like homes, workplaces, etc., is also contributing to the flourishing market of candles across both countries, further states the research report, “Vietnam & Philippines Candles Market Analysis, 2022.”

Offline Stores to Continue their Market Dominance through 2027

The Offline distribution channel dominates the Vietnam & Philippines Candles Market with the largest share. It owes principally to numerous specialty or gift shops, home decor stores, & others present in Vietnam & Philippines and their growing expansion to cater to the burgeoning consumer requirements. 

It, in turn, is soaring the sale of candles & augmenting the overall market growth. Moreover, benefits like a wide variety of options, fragrance testing, etc., are other crucial aspects attributed to the greater inclination of people toward purchasing candles from offline stores and, in turn, fueling the overall market growth, reveals MarkNtel Advisors in their research report, "Vietnam & Philippines Candles Market Analysis, 2022."

Competitive Landscape

The leading players in the Vietnam & Philippines Candles Market are Alice Blue Candle, Bath & 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., and Yankee Candle.

Key Questions Answered in the Research Report

1. What are the current & future trends in the Vietnam & Philippines Candles Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across Vietnam & Philippines, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Vietnam & Philippines Candles Market?
5. What are the customer orientation, purchase behavior, & expectations from candle manufacturers across Vietnam & Philippines?

Market Segmentation:

1. By Candle Type (Pillar Candle, Taper Candle, Votives, Tea lights, Floaters)
2. By Raw Material (Paraffin Wax, Soy Wax, Gel Wax, Beeswax, Palm Wax, Others)
3. By Price Range (Low, Medium, High)
4. By Distribution Channel (Online, Offline (Specialty or Gift Shops, Home Decor Stores, Others))
5. By Competitors (Alice Blue Candle, Bath & 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)