Are you trying to find the best possible market for candles? Here are the most promising candle target markets for 2022, if that answer is YES.
Candlemakers are fortunate to have a platform to realize their ideas, using their ingenuity to develop original and fascinating concepts that other people would want to have in their homes. Starting this business on a modest scale from the convenience of your home can save you money on costs like rent and allow you to build the company up gradually.
There are several methods to launch and operate this company. Many businesses are run out of owners’ homes, with proprietors sampling and selling goods at booths at craft fairs and flea markets. Others build physical stores, sell in gift shops and boutiques, or even sell online through their websites or Etsy.
This market offers a wide variety of feasible business models, so entrepreneurs may choose how to best operate their companies to achieve their personal and professional goals.
Experts claim that based on their business goals and philosophies, candle-making companies would establish distinct target markets. A company that specializes in high-end candles can decide to target gift-givers and homeowners who desire an attractive candle to improve their living space. Businesses that produce candles intended to enhance the aromas and settings of a particular locale will target tourists and local residents in that area.
However, industry insiders claim that families with young children are the primary target market for candles. Candles are one of life’s minor luxuries, therefore people of all socioeconomic backgrounds, racial and educational backgrounds buy them at about the same rate. Men and women both enjoy candles, but important demographic statistics show that women buy more of them, particularly those under the age of 45.
Additionally, an increasing number of couples and families from many ethnic backgrounds are purchasing candles in the market. This just serves to demonstrate how baby boomers’ predictable patterns of household and family spending are causing changes in lifestyle that can only lead to faster development in the candle business.
Intended Use: Target Market
Candles for Stress Relief
Many folks only buy candles because they enjoy lighting them. They are more interested in the mood that lighting a candle provides them than in the aroma or the light.
The candle is frequently utilized in this situation to promote relaxation and stress reduction. People searching for a quick and simple method to unwind and de-stress, typically at the conclusion of a long and exhausting day, are among the target market for such candles.
These candles frequently employ aromas and colors that are intended to arouse pleasant emotions and associations, such as joy, serenity, love, and relaxation.
Due to the fact that they are meeting a need—the desire to discover a quick and simple method to relax and boost one’s mood—candlemakers that cater to this market sector are able to cultivate a devoted following of customers.
Candles for Aromatherapy
Candles have been used for a variety of purposes for ages. Aromatherapy is one candle usage that is quickly gaining popularity. The application of fragrances or odors to advance health and wellbeing is known as aromatherapy.
People who desire to experience a health benefit, such as a reduction in stress, anxiety, headaches, etc., are the target market for candles used for aromatherapy.
Customers who fall into this category usually always also fit into other market categories since specific items must be used in the production of the candles in order for them to provide Aromatherapy.
Customers who buy candles for aromatherapy, for example, are drawn to those that are hand-poured rather than machine-produced, made of soy wax rather than paraffin wax, and have natural aromas rather than synthetic ones.
Candles for home decoration
Candles may be used to provide a certain mood, ambiance, or ambiance to make a space appear more pleasant and comfortable. Due to the fact that Western holidays like Thanksgiving, Christmas, and others tend to fall in the colder months when people prefer to burn candles, this is especially prevalent during the holiday season.
The vase that holds the candle is quite important when candles are utilized as decorative items. Vases constructed of glass, stained glass, metal, ceramic, cement, and wood can be considered works of art in and of themselves.
The aroma makes a huge impact when candles are used to set a mood or ambiance. Different smells elicit various sentiments and emotions. Candlemakers promote candles as a product that helps with the emotional ups and downs that people experience during the course of the day by highlighting the strong relationship between smells and emotions.
Candles as gifts
Candles are ideal as gifts since they are frequently viewed as a symbol of calmness, tranquility, health, and well-being.
Finding the ideal candle for everyone is simple given the range of forms, sizes, and smells that are offered on the market.
Candles are a perfect present when you’re invited to a friend’s place for dinner and are always a pleasant touch to any home’s decor.
Candlemakers sometimes create candles for special events including festivals, baptisms, and births. Because of this, candles function equally as effectively on special occasions like Valentine’s Day, Mother’s Day, birthdays, and Christmas.
Customers frequently purchase candles for themselves as well. Candles are frequently marketed as a manner of “pampering yourself” by candle manufacturers and marketers. Candles used as self-gifts are closely related to candles used in aromatherapy or as a stress reliever.
Candles for the dinner table
A candle may be a wonderful way to set the scene and foster a cozy atmosphere at the dinner table. Candles are frequently given as gifts, especially during the holidays, so it’s common to see them on dinner tables. Take Christmas.
Candles are frequently used during romantic dinners. These evenings are known as candle-lit dinners for a reason.
Marketers take advantage of the occasion to design candles that are intended to be lighted around the dinner table. These candles frequently contain fewer perfumes to avoid overpowering or impairing the flavors and odors of the meal being served at the table.
Various Target Markets for Candles
Be aware that choosing your location in the larger candle industry is the first step in developing your candle company. Your target markets are the consumers who, in your opinion, should be most interested in and likely to purchase your items.In the candle industry, target markets are well separated into three categories:
High-end or Prestige Category
A recent and rapidly expanding business category for candles is the luxury candle industry. Beeswax, soy, coconut, and other forms of vegetable waxes can all be used to create a high-end candle. Regular and scented luxury candles are the two primary varieties. Is aware that all scented candles include fragrance of some kind, whether it be synthetic fragrance oil, pure essential oil, or a combination of both. Luxury candle manufacturers, on the other hand, are known to seek for and employ some of the most pricey, premium oils available.
Be aware that, with a few noteworthy exceptions, you won’t typically find aromas like “cotton candy” or “chocolate chip cookies” in a premium candle. Some of the perfumes, like Otto by Fornasetti or Butterfly Gingko by Michael Aram, are exceedingly convoluted and have mystical smell names. Also keep in mind that prices might change. Depending on the luxury candle, prices can range from $30 to $80 to as much as $185, like the Louis Vuitton perfumed scented candle. The high quality of its packaging, perfumes, and attention on brand narrative are hallmarks of prestige candles.
These mid-range candles are popular with a wide audience but can be challenging to sell. What works well for one candle business may not necessarily be effective for another due to the diverse demographics in this sector.
Targeting this market puts candle companies in a growth sweet spot where autonomy and accountability coexist. Be aware that stores like Target are likely to carry these candles. They typically cost roughly $10 per candle and include distinctive landscapes like rose water, citrus, or basil.
Mass market Category
Since these candles are the least expensive on the market, many new businesses entering this sector begin by focusing on this market. As numerous Etsy merchants will attest, making candles in your kitchen is not difficult. The mass market segment of the business is the most competitive and fierce due to the quantity of essential oils and candle-making tools sold in some retailers.
But as competition in this market increases, firms must innovate and broaden their product offers. In order to move beyond farmer’s markets and tiny gift stores, these companies also need to have a certain level of internet savvy.
You should think about who will buy your candles, how they will buy them, and how much they are willing to spend when you are in the candle company.
The only way to better understand the materials to use and the layout of your package and brand is to do this. It is best to start with a goal in mind, but to be open to improvising and adapting as needed as time goes on.
Most prosperous companies make gradual adjustments to better meet their market’s needs.