Research Methodology – Scented Candles Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Scented Candles Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Scented Candles Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Total sales of scented candles in the last financial year.
- Number of potential consumers in the market.
- Number of competitors in the market and their market share.
- Price range of scented candles.
- Sales channels utilized (online platforms, retail stores, etc.).
- Environmental impact and sustainability considerations.
- Geographical reach of the products.
Key Market Indicators
- Consumer spending on home decor and fragrance products.
- Growth rate of the scented candles industry.
- Market trends and consumer preferences.
- Technological advancements in candle production.
- Market penetration of e-commerce in the candle industry.
- Demographic data indicating potential consumer segments.
Growth Trends
- Increase in demand for aromatherapy and relaxation products.
- Shift towards natural and eco-friendly candles.
- Uptick in sales during festive and holiday seasons.
- Growth of online sales platforms.
- Premiumization trend in the scented candle market.
- Increasing innovation in scents and designs.
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Scented Candles Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Scented Candles Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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