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Vietnam & Philippines Candle Market 2020 Size, Share, Outlook, Competitive Strategies and Forecast to 2024

The growing presence of candle manufactures in Vietnam and increasing consumer’s disposable income are two key factors augmenting the demand for candle in this country. The candle has been an integral part of Vietnam’s traditions, and it still witnesses strong demand in Vietnam, not just for lighting and conventional purposes but for a set of new purposes such as for home fragrance, home decor, gifting, and others.Further, rising consumption of candles in cultural applications, adoption of the candle as a home decor product and luxury gift item is backing the growth of candle market in the Philippines.

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Growth Drivers – Vietnam & Philippines Candle Market

Macro-Economic Indicators: Measuring Quality of Life

Rising per capita income of the population is anticipated to impact the growth of Vietnam candle market positively. In Vietnam, per capita, income trend exhibits that the population is getting more affluent on an annual basis owing to the growing employment rate. Moreover, people are willing to spend more on home decor products. Given these circumstances, Vietnam candle market is poised to witness healthy growth in the years ahead. In addition to this, growing Vietnam culture tourism is anticipated to positively impact the demand for candles as cultural objects are required for promoting cultural values.

Segmentation Analysis

Vietnam & Philippines candle market is segmented into candle type, raw material, price range, and distribution channel. Based on candle type, the market is segmented into pilar candle, taper candle, votives, tea lights, floaters, and others. In the raw material segment, Vietnam & Philippines candle market is sub-segmented into paraffin wax, soy wax, gel wax, beeswax, palm wax, and others.
Also, the market is segmented on the basis of price range into low price, mid-price, and high price. Moreover, based on the distribution channel, Vietnam & Philippines candle market is further sub-segmented into online stores and offline stores.

Competitive Analysis

The report also covers detailed competitive analysis of major market players of Vietnam candle market, such as Creative Lights Viet Nam Corporation, Universal Candle Vietnam Corporation, Fleming International Vietnam Ltd., Yankee Candle, Caro Candles Company Limited, Peony Home, Nguyen Quang Minh Candle, Vietnam International Victory Co. Ltd. and other major & niche players.
Also, Philippines candle market report covers the detailed competitive analysis of major players, which include Vayao Wax Manufacturing Inc., Doc’s Candles, Alice Blue Candle, FAVORI, The Candleroom, Bath & Body Works Direct, Inc., Happy Island Candle Co., Yankee Candle Philippines and other major & niche players.

Timeline Considered for Analysis:
– 2018: Base Year
– 2019: Estimated Year
– 2019 to 2024: Forecast Period

Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis

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