Candles And Tapers Market

The global market for candles and tapers is projected to continue growing in consumption, production, imports, and exports from 2022 to 2030. Consumption of candles and tapers experienced a decrease in 2022, but overall showed an increase over the last decade. The United States, China, and India were the top consumers and producers of candles and tapers. Imports and exports of candles and tapers also saw growth, with China, Poland, and Vietnam being the top exporting countries. The average export price increased in 2022, indicating a positive outlook for the market.

Market Forecast

Driven by increasing demand for candles and tapers worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 10M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $40.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Candles And Tapers

After two years of growth, consumption of candles and tapers decreased by -4.7% to 8.3M tons in 2022. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.6% against 2019 indices. Over the period under review, global consumption attained the peak volume at 8.7M tons in 2021, and then shrank slightly in the following year.

The global candles and tapers market value fell slightly to $28.9B in 2022, reducing by -3.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +21.0% against 2019 indices. As a result, consumption reached the peak level of $30B, and then declined in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.6M tons), the United States (1.3M tons) and India (668K tons), with a combined 43% share of global consumption. Russia, Brazil, Indonesia, Mexico, Germany, Bangladesh, the Philippines, Saudi Arabia, Canada and Thailand lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the Philippines (with a CAGR of +8.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest candles and tapers markets worldwide were the United States ($7.1B), China ($4.1B) and India ($1.6B), with a combined 44% share of the global market. Bangladesh, Russia, Brazil, the Philippines, Indonesia, Germany, Mexico, Canada, Saudi Arabia and Thailand lagged somewhat behind, together comprising a further 24%.

Indonesia, with a CAGR of +10.8%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of candles and tapers per capita consumption in 2022 were Saudi Arabia (3.9 kg per person), the United States (3.9 kg per person) and Canada (3.4 kg per person).

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +6.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Candles And Tapers

In 2022, production of candles and tapers decreased by -4.9% to 8.3M tons for the first time since 2019, thus ending a two-year rising trend. In general, the total production indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 18%. Over the period under review, global production attained the peak volume at 8.7M tons in 2021, and then dropped slightly in the following year.

In value terms, candles and tapers production fell to $28.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. As a result, production attained the peak level of $29.2B, and then contracted modestly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (2M tons), the United States (1M tons) and India (690K tons), together accounting for 45% of global production. Poland, Russia, Brazil, Indonesia, Mexico, Vietnam, Bangladesh, the Philippines, Saudi Arabia and Canada lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +8.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Candles And Tapers

In 2022, purchases abroad of candles and tapers decreased by -0.3% to 1.4M tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.8% against 2012 indices. The pace of growth appeared the most rapid in 2021 with an increase of 24%. As a result, imports attained the peak of 1.4M tons, leveling off in the following year.

In value terms, candles and tapers imports reached $5B in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.8% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

Imports By Country

In 2022, the United States (320K tons), distantly followed by Germany (194K tons), the UK (105K tons), the Netherlands (92K tons) and Belgium (66K tons) were the largest importers of candles and tapers, together committing 54% of total imports. Canada (47K tons), France (45K tons), Austria (45K tons), Poland (36K tons), Hungary (36K tons), the Czech Republic (34K tons), Sweden (33K tons) and Romania (29K tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Hungary (with a CAGR of +16.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.1B), Germany ($639M) and the UK ($392M) were the countries with the highest levels of imports in 2022, with a combined 42% share of global imports. The Netherlands, France, Canada, Belgium, Austria, the Czech Republic, Poland, Sweden, Romania and Hungary lagged somewhat behind, together accounting for a further 29%.

Among the main importing countries, Romania, with a CAGR of +18.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average candles and tapers import price stood at $3,496 per ton in 2022, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. Global import price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($4,041 per ton), while Hungary ($2,033 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Candles And Tapers

In 2022, approx. 1.4M tons of candles and tapers were exported worldwide; remaining constant against the previous year. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 21%. As a result, the exports attained the peak of 1.4M tons, and then declined in the following year.

In value terms, candles and tapers exports rose sharply to $5.3B in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.6% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 37%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

China (373K tons) and Poland (323K tons) represented roughly 49% of total exports in 2022. Vietnam (123K tons) held the next position in the ranking, followed by the Netherlands (72K tons). All these countries together held near 14% share of total exports. Germany (61K tons), Canada (49K tons), the United States (49K tons), Belgium (47K tons), Mexico (44K tons), the Czech Republic (29K tons), India (25K tons), Hungary (24K tons) and Italy (22K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Czech Republic (with a CAGR of +23.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest candles and tapers supplying countries worldwide were China ($1.3B), Poland ($963M) and Vietnam ($481M), with a combined 52% share of global exports. The United States, the Netherlands, Germany, Belgium, Canada, the Czech Republic, Italy, India, Hungary and Mexico lagged somewhat behind, together accounting for a further 30%.

The Czech Republic, with a CAGR of +32.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average candles and tapers export price stood at $3,712 per ton in 2022, increasing by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($6,405 per ton), while Mexico ($1,483 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform