Industry Analysis & Industry Trends
Over the past five years, improving incomes and the introduction of a variety of scented and colored candles has helped the industry recover from lows incurred during the recession. Going forward, the Candle Manufacturing industry is expected to continue benefiting from growing demand for candles domestically and abroad. In turn, this will be underpinned by rising disposable spending and a sustained preference for candles as scented and colored additives to rooms and households. Still, the industry is expected to continue dealing with challenges such as competitive substitutes (e.g. flowers), low-price imported candles and high-plastic input costs.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Candle Manufacturing industry is in the mature stage of its life cycle. IBISWorld estimates that the industry's value added (IVA), which measures contribution to economic output, will increase at an average annual rate of 2.4% in the 10 years to 2019. This nearly matches the expected growth of US GDP over the period, estimated at 2.5% per year on average. IVA growth that mirrors general economic growth points to industry maturity.
A number of other factors point to this conclusion, including a slowly growing number of industry establishments and a set product portfolio. As consumers' income levels grow, demand for candles increases and causes the industry to expand slowly... purchase to read more