Supermarkets and Hypermarkets Segment to Dominate Middle East & Africa Luxury Candle Market during 2019–2028

According to a new market research study on “Middle East & Africa Luxury Candle Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Distribution Channel,” is expected to reach US$ 13.87 million by 2028 from US$ 9.53 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. Rising social media influence and rising penetration of E-commerce platforms is the major factor driving the growth of the Middle East & Africa luxury candle market. However, availability of low-priced products may hinder the growth of Middle East & Africa luxury candle market. The report provides trends prevailing in the Middle East & Africa luxury candle market along with the drivers and restraints pertaining to the market growth.

South Africa recorded the highest number of COVID-19 cases in the Middle East & Africa, followed by Saudi Arabia and the UAE. Due to the lockdown in the Middle East & African countries, the distribution network was significantly disrupted, affecting the sales of luxury candles. However, the circumstances are far better than earlier. The marketplace is experiencing positive recovery signs, and the sales of beauty and wellness products have surged. Moreover, the UAE is the center of tourist attractions and has a well-established hospitality industry. With the relaxation of lockdown restrictions and travel bans, the demand for luxury candles from the hospitality sector is projected to grow significantly. Moreover, the high-net-worth individuals in the UAE and Saudi Arabia demanded luxury candles as they engaged themselves in self-care practices because of the ongoing pandemic, which boosted the growth of the luxury candle market across the Middle East & Africa.

The Middle East & Africa luxury candle market is segmented into type, distribution channel, and country. Based on type, the market is segmented into regular and scented. In 2020, the scented segmented accounted for a larger revenue share. Based on distribution channel, the Middle East & Africa luxury candle market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment accounts for largest market share in the 2020. Similarly, based on country, the market is segmented into South Africa, Saudi Arabia, UAE, and rest of Middle East & Africa. The rest of Middle East & Africa contributed a substantial share in 2020. 

Acqua di Parma S.r.l., Diptyque, HERMES, Louis Vuitton, Maison Francis Kurkdjian, Newell Brands, Parfums de Marly, SISLEY, and The Estée Lauder Companies Inc. are among the leading companies in the Middle East & Africa Luxury Candle Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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