The candle boxes market is estimated to be worth USD 3.3 billion in 2022, with a projected value of USD 5.5 billion by 2032. Over the forecast period, the candle boxes market is expected to grow at a CAGR of 5.4% through 2032.
The COVID-19 pandemic has dramatically altered people’s daily lives all over the world for candle boxes market also. As part of the new norm, new protocols were established to ensure public health and safety.
Businesses in the candle boxes market have been heavily impacted by these changes for several months, as prolonged lockdowns and social distancing rules pushed the economy into an alarming recession affecting the candle boxes market opportunities.
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In terms of sustainable packaging for candle boxes market, government agencies continue to seek solutions to packaging waste and recyclability issues. Many countries are attempting to control this by changing manufacturing regulations and tax laws.
Due to the increasing applications of candles, the candle boxes market, as well as the candle boxes market future trends, is expected to grow significantly over the forecast period. Candles are also used to decorate homes and offices, as well as to celebrate festivals such as Diwali and Christmas, which is another major factor driving the candle boxes market.
Furthermore, consumers’ increasing disposable incomes and changing lifestyles have enabled them to spend more money on candles with better shapes and exotic aromas, which is a good thing escalating the candle boxes market key trends and opportunities.
Furthermore, rising disposable incomes and changing consumer lifestyles have enabled them to spend more money on candles with unique shapes and exotic aromas, boosting candle boxes market. However, the presence of a large number of unorganised candle manufacturers may pose a global challenge to the candle boxes market and candle boxes market adoption trend on the whole.
KEY TAKEAWAYS:
- The candle boxes market’s mass boxes segment form the type category is predicted to develop at a CAGR of 3.3% through 2032.
- Through 2032, square sector in the candle boxes market’s shape category will grow.
- The candle boxes market’s lock bottom box segment form the product type category is predicted to develop through 2032.
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COMPETITIVE LANDSCAPE:
New market research report on candle boxes says that McKenzieCrest Inc., ICM Custom Packaging, Craft candles Manufacturer, BlueBox Packaging, ClipnBox, Elite Custom Boxes, Pak Factory, RSF Packaging are among the legacy players vendors.
The research offers a comprehensive competition analysis of these top competitors in the candle boxes market, including candle boxes market growth, candle boxes market share, candle boxes market adoption trends and important market strategies.
Recent Development in the Candle Boxes Market:
- March 2021 – Supplies for Candles LTD, based in Yorkshire, has paid £2.5 million for Glassprint Ltd. Glassprint Ltd was established in 2002 and specialises in printing on glass items such as candle glasses and perfume bottles.
- 2021 February – Yankee Candle®, the world’s largest home fragrance company, has introduced its new Signature Collection. The new collection revitalises Yankee Candle’s design with reimagined tumbler candles and hand-illustrated labels depicting the fragrance notes within each scent.
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