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 an annualized 3.6% in the 10 years to 2020. This is only slightly higher than the expected growth of US GDP over the period, estimated at 2.5% per year on average. IVA growth is expected to mirror GDP growth in the long run.
A number of other factors point to this conclusion, including moderate growth in the number of industry operators 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