Market Insights Consumer Furniture Home Décor

Candles - Luxembourg

Luxembourg

in Luxembourg, a country known for its rich history and vibrant culture, is no stranger to Worldwide of candles.
In 2024, the revenue in the Candles market Segment of Luxembourg amounts to a remarkable US$8.40m.
Looking ahead, the market is projected to experience a steady annual growth rate of -0.60%, as measured by the Compound Annual Growth Rate (CAGR) from 2024 to 2029.
When comparing Luxembourg's candle market to the global landscape, it becomes evident that in the United States takes the lead.
In 2024, in the United States generates an impressive revenue of US$2,346m in this segment.
This highlights the dominance of the United States in the global candle industry.
To put the revenue figures into perspective, it is important to consider the population size of Luxembourg.
In 2024, the per person revenue generated in the Candles market Segment amounts to US$12.70.
This indicates the significant contribution of the candle industry to the economy, as each individual in Luxembourg generates a substantial amount of revenue in this market segment.
Luxembourg's thriving candle market demonstrates its ability to compete globally and showcases the country's commitment to excellence in the manufacturing and distribution of candles.
With its rich heritage and dedication to quality, in Luxembourg continues to make its mark in the global candle industry.
Luxembourg's high-end candle market is booming, fueled by the country's affluent population and appreciation for luxurious home decor.

Key regions: Worldwide, France, India, Denmark, Germany

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Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.