Prepared for Kathryn D. | Delivered August 12, 2019
Scented Candles Market
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To understand how many scented candle vessels are thrown away or recycled every year.
GLOBAL CANDLE MARKET
The global scented candle market is set to reach
, increasing at a CAGR of 5.8% by 2024, with North America holding a
market share, or $1.35 billion (4.22 billion x .32).
The US prestige/luxury candle market is worth
Yankee Candle holds a
of the candle market.
The global candle market, in general, is growing at a CAGR of
and will reach $13 billion by 2023, with North America making up 36.94% of the market.
of all US candle sales occur during the Christmas holiday season.
As of 2015, Yankee Candles was selling
200 million candles
If we assume Yankee Candles' is still producing
candles per year, we can use its industry market share of
to estimate the number of candles sold every year, which would result in approximately 435 million (200 million / .46).
CANDLES THROWN AWAY
During the Christmas season, it is thought that
hundreds of thousands
of candles end up in landfills, and their plastic casings could remain there for 1,000 years.
Candle wax is not recyclable
, meaning many candle vessels likely end up in landfills rather than being recycled, as recycling takes the extra step of cleaning out the vessel.