Although it remained strong in the first quarter of the year, the economic activity of Argentina lost strength in 2018 due to a recessive second semester stemming from government spending cuts and lower private investment and consumption. To reduce fiscal deficit, the government eliminated some of the subsidies granted to public services (water, electricity and natural gas distribution).
The erosion of available incomes forced local consumers to make more efficient use of their money and to change their purchasing habits. Most home care categories felt the consequences of the weak consumption during this period.
The multinationals Unilever, SC Johnson & Son, Clorox and Procter & Gamble were the leading companies of home care in Argentina in 2018. The low number of competitors allows bigger companies to have higher margins in Argentina than in Europe or North America.
Lifestyle changes in Argentina are encouraging brands to develop new products or to change production methods to fulfil consumers’ expectations. In line with global trends, consumers are searching for time-efficient products such as multi-purpose cleaners or home care wipes.
Over the forecast period, demand for home care in Argentina will be driven by changing lifestyles, more environmentally-friendly production and the pursuit of the best price-quality ratio.
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This industry report originates from Passport, our Home Care market research database.