Electric Tea Light Candles Market Analysis including Growth, Challenges & Forecast by 2028
Production Process Hampered Owing to Lockdown Norms
The production of electric tea light candles was hampered during the lockdown. This was due to the shutdown of manufacturing units of the product and travel restrictions across the globe. This resulted in a supply and demand chain gap globally while hampering imports and exports. Moreover, as these electric candles are considered decorative rather than essential, the sale was prohibited in certain regions. Even though the lockdown situation resulted in a declining sales graph, it is expected that the demand and supply gap shall reduce post-lockdown.
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Based on type, the market for electric tea light candles is segmented into remote control and non-remote control. By application, the market is categorized into home & personal and commercial. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report has details on all the latest technology available in the market for electric tea light candles. The technological advances made in the industry have been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advises various solutions to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
Increasing Utility as a Decorative Material to
Augment Market Growth
The high demand for aesthetically-appealing decorative materials is expected to propel electric tea light candles market growth. These candles are being adopted for various decoration purposes. Consumers are attracted towards natural and zero-hazardous decorations such as these candles for festivals, weddings, and even personal use. The rising popularity of these candles have encouraged manufacturers and small time business owners to try and experiment with various designs. The beautiful designs, along with the growing technological innovation in these candles, is expected to boost the product’s demand. Also, in comparison to traditional candles, these are reusable and last for a long time attracting substantial demand in the market.
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Adoption of Product in Public Spaces to Aid Growth in Asia-Pacific
Asia-pacific is anticipated to hold substantial electric tea light candles market share during the forthcoming years. This is owing to the rising adoption of electric candles in various public spaces such as church, offices, events, and weddings.
Europe is projected to showcase substantial growth in the foreseeable future. Commercial spaces are rapidly adopting remote control candles in this region. Moreover, the product is highly utilized in household application here. The aesthetic nature of the product, coupled with the availability of various designs, is expected to fuel market growth.
Facility Expansion by Market Players to Amplify
Their Business Position
The competitive landscape of the market for electric tea light candles enlightens us with details on prominent players of this industry. Technological advancement by key players is being researched to gain traction in the market. Several market giants are also collaborating on production facilities to expand their business horizons. Some companies are also using awareness campaigns to strategically introduce their products in regions with minimal awareness to expand their horizons. Several more strategic collaborations, acquisitions, partnerships, product launches, technological advancement, and others are spread across the market horizon of this product.
List of Key Players Profiled in the Market:
• IKEA United Kingdom
• T&H Candles Corp
• Smart Candle Inform
• National Artcraft Co.
• PK Green Enterprise Ltd
• Battery Operated Candles
• The Glow Company UK Ltd.
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This release was published on openPR.