Top Export Markets for Candle Products
If you are a candle manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 3404 (Artificial waxes and prepared waxes)
Product Group 3406 (Candles and the like)
Candles Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 3 billion in 2016). However average annual import growth between 2012 and 2016 was actually negative in this region. This means entering the market and gaining share would be quite difficult. The next two largest markets are North America and East Asia & the Pacific. Both of these however also had negative year over year import growth. The only two markets with positive year over year import growth were the Middle East and South Asia but both have more limited import volume.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Candles Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are China, Japan, South Korea, Thailand and Australia. South Korea and Australia also have strong import growth. In addition, Taiwan, Vietnam, Malaysia and Singapore also have high growth in imports making them great targets for expansion.
Candles Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are Germany, United Kingdom, Netherlands, France, Belgium and Italy. Most of these countries have limited growth with the exception of the United Kingdom and Italy. In addition, Poland, Czech Republic, Turkey, Slovak Republic and Ireland also have high growth in imports although limited volume.
Candles Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Mexico, Brazil, Argentia and Colombia. Import growth in these countries however has been negative. The only major markets in the region that have had positive year over year import growth are the Dominican Republic and Peru.
Candles Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are the United Arab Emirates, Saudi Arabia and Israel. The United Arab Emirates and Saudi Arabia have strong growth in imports as well. In addition, Qatar, Kuwait, Algeria and Iran have had high growth in imports although limited volume.
Candles Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. Both however have had negative year over year import growth.
Candles Imports Analysis for South Asia Countries
Within South Asia, the countries with the highest volume of imports in 2016 are India, Pakistan and Sri Lanka. All of them have had quite strong year over year growth in imports as well.
Candles Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, the countries with the highest volume of imports in 2016 are South Africa, Cote d'Ivoire, Nigeria, Angola and the Democratic Republic of Congo. Import growth in Cote d'Ivoire has also been strong.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.