“But several key demographic factors distinguish the candle buyers: young women, aged 44 years and under, that head families with children. This finding represents the key for candle marketers' future," an industry source noted.
"Between 2005 and 2010 consumer marketers will begin to see new potential growth coming from the millennial generation consumers, the babies of the 'baby boom' generation born from 1977 on. This year the leading edge of the millennial generation turns 26, the age corresponding with first marriage. With marriage, these consumers will begin a predictable pattern of home and family-directed spending. These life stage changes can mean renewed growth in the candle market in the years ahead."
"Today a new candle company must offer a real point of difference, either a new type of candle or a totally new marketing approach to find an opening in which to compete."
Product innovators will be rewarded with growing sales and share of market. Besides new designs the greatest innovation opportunity in the candle market today is to replace petroleum-based paraffin with natural wax and oil-based candles. "So much of consumer psychology in purchasing candles is about reducing stress and creating a healthy, clean and nurturing home environment. In today's social and political climate there is something fundamentally inconsistent in burning candles made from imported
petroleum-based paraffin. That's why candles based upon soy bean oil and other natural ingredients are finding a growing market for their products!
• Last year, the candle industry did $6 Billion and is growing at an estimated 10%.
• Candles are burned in 8 out of 10 homes in the U.S.
• Candle use has increased by 17% since 9/11
• 67.6% use candles to put themselves in a good mood.
• 71% use candles to create a romantic environment.
• 54.4% use candles to relieve stress.
• 67% use candles at least once a week for a minimum of 3 hours.
• 8 out of 10 use when entertaining or during holidays.
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