Market Insights Consumer Furniture Home Décor

Candles - Malaysia

Malaysia

In Malaysia, the revenue generated in the Candles market Segment in 2024 amounts to MYR US$53.78m.
It is projected that the market will experience an annual growth rate of 3.45% (CAGR 2024-2029).
When compared to the global market, in the United States generates the highest revenue with US$2,346m in 2024.
In terms of per capita figures, in Malaysia, each person contributes MYR US$1.55 to the revenue in the Candles market Segment in 2024.
The demand for traditional Malaysian scented candles is on the rise, as consumers in Malaysia embrace their cultural heritage through aromatic home decor.

Key regions: China, France, United Kingdom, United States, Worldwide

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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 categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.