Analyzing the Market Size of Flameless Candles
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There is no doubt that flameless candles are becoming more and more popular. As a substitute for traditional candles, flameless candles are more safe, convenient, beautiful, and environmentally friendly, which has attracted more and more consumers.
Driven by various factors, the global market for flameless candles is expanding. These factors include, but are not limited to, people's increased requirements for home decoration products, increased awareness of potential fire hazards, and the convenience brought by flameless candles. According to a 2020 report by Grand View Research, the global flameless candle market is expanding. In 2020, the global flameless candle market will reach US$2.43 billion, and in the next eight years, it will grow at a compound annual growth rate of 5.7%. And the main market is concentrated in North America, followed by Europe and Asia Pacific.
In addition, it is also mentioned in the report that the demand for flameless candles in various outdoor activities, hotels, restaurants, spas, weddings and home decoration is rapidly expanding. Pillar candles are one of the most in demand and are suitable for a variety of occasions. Whereas, flameless tea lights are most in demand in weddings and home decor.
In the market competition of flameless candles, several brands are currently relatively strong, including Luminara, Liown and Candle Impressions. These brands occupy a large market share and have gradually moved towards high-end brands. For daily use or one-off needs for events, there is still a large market for flameless candles that other brands can fill.
In short, the current flameless candle market is constantly expanding. Although several big brand companies occupy a large market share, there is still a large part of the market that can be obtained by more sellers.
Driven by various factors, the global market for flameless candles is expanding. These factors include, but are not limited to, people's increased requirements for home decoration products, increased awareness of potential fire hazards, and the convenience brought by flameless candles. According to a 2020 report by Grand View Research, the global flameless candle market is expanding. In 2020, the global flameless candle market will reach US$2.43 billion, and in the next eight years, it will grow at a compound annual growth rate of 5.7%. And the main market is concentrated in North America, followed by Europe and Asia Pacific.
In addition, it is also mentioned in the report that the demand for flameless candles in various outdoor activities, hotels, restaurants, spas, weddings and home decoration is rapidly expanding. Pillar candles are one of the most in demand and are suitable for a variety of occasions. Whereas, flameless tea lights are most in demand in weddings and home decor.
In the market competition of flameless candles, several brands are currently relatively strong, including Luminara, Liown and Candle Impressions. These brands occupy a large market share and have gradually moved towards high-end brands. For daily use or one-off needs for events, there is still a large market for flameless candles that other brands can fill.
In short, the current flameless candle market is constantly expanding. Although several big brand companies occupy a large market share, there is still a large part of the market that can be obtained by more sellers.