The import of candles, tapers, and similar products to Vietnam has undergone various fluctuations over the years. From 2013 to 2023, there have been noticeable shifts: starting with 484.81 thousand USD in 2013, peaking intermittently, and finally reaching 1,031.3 thousand USD in 2023. Notable year-on-year variations include significant increases in 2014 (70.02%) and 2016 (50.24%), alongside declines in 2015 (-33.39%) and 2020 (-13.66%). Over the last five years, the compounded annual growth rate (CAGR) averaged at around 3.81%, showing a stable yet modest growth rate.
Looking forward, by 2028, the market is expected to grow to 1,205 thousand USD, which corresponds to a five-year CAGR of approximately 2.5%. Key future trends include the increasing demand for lifestyle and home decor products, ongoing supply chain adjustments, and potential economic shifts impacting import levels.
