Healthy rate of growth
The search for products that ease the house cleaning task as well as deliver more efficient results are two trends that positively impacted home care in Peru. In addition, prices only increased moderately, which combined with the good economic performance of the country, determined that some consumers gained access to some categories in home care, while others traded up to more sophisticated brands.
Rising demand for specific products
Middle and high-income consumers are increasingly purchasing home care products that are more specialised, offer multiple benefits, save time or provide improved efficiency. Categories that focused on this type of innovations are small ones, such as: electric air fresheners, liquid fabric softeners, laundry aids and spray/ aerosol insecticides. Yet, these categories hold a strong potential to continue developing at fast rates as long as they increase their penetration among a larger consumer base.
Tight competition among local and multinational companies
Share within home care is fairly distributed between domestic and international companies. On the one hand, local companies carry good-quality brands, which offer affordable prices and a good variety of packaging sizes and formats that suit consumers with different budget restraints. In turn, multinational brands are strongly supported by advertising campaigns and frequently engage in product innovation to maintain consumers’ interest.
Independent small grocers remains as leading distribution channel
Independent small grocers – traditionally known as bodegas – continued to represent the main distribution channel for home care during 2013. This channel is favoured due to its proximity to most consumers’ households, its wide array of small packaging sizes and even the offering of informal credit. Nevertheless, supermarkets and hypermarkets continued to gain penetration due to their expansion through the wealthiest cities in the country, their offering of frequent discounts, their good level of availability of mid and high-priced brands and their offering of formal credit options.
Given the fact that the Peruvian economy is expected to register a healthy rate of growth during the forecast period, consumers will benefit from higher purchasing power that will allow them to increase their expenditure on non-essential items, among them, home care. As a result, some middle-income consumers will switch from standard products to more sophisticated ones, while some low-middle income consumers will gain access to new categories and increase their expenditure on the largest categories. Moreover, fierce competition in this arena will determine that prices only increase marginally to appeal to a larger consumer base.
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Discover the latest market trends and uncover sources of future market growth for the Home Care industry in Peru with research from Euromonitor's team of in-country analysts.
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The Home Care in Peru market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Home Care in Peru?
- What are the major brands in Peru?
- What is the importance of the trend towards environmentally friendly products in home care?
- What are the main growth drivers of the home care market in Peru?
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This industry report originates from Passport, our Home Care market research database.