The COVID-19 pandemic has had a negative impact on polishes overall in 2020 as current value sales witness slowed growth, increasing only marginally. During the pandemic, consumers’ main priority has been the disinfection and sanitation of their homes and belongings, which is why other product areas within home care have performed well.
Prior to the pandemic, shoe polishes was a struggling product area due to the shift away from more traditional shoes to casual shoes, resulting in less of a demand for shoe polishes. In response to the outbreak of COVID-19, shoe polishes is set to perform even worse, as current value sales decline noticeably.
The international companies SC Johnson & Son, Cigir Kimya, Ara, Werner & Mertz and Eres Sapoli have continued to occupy the top five places in polishes in retail value share terms in 2020. The top three players are mainly active in shoe polish, while Werner & Mertz has a wider range, including shoe and furniture polish, and Eres Sapoli focuses on metal polish.
Over the forecast period, polishes is expected to continue seeing slowed growth. As the economy continues to suffer as a result of the pandemic, consumers will continue to avoid unessential products that are not increasing the hygiene of their homes.
Changes in footwear requirements and fashions will continue to damage sales of shoe polish in Lithuania over the forecast period. The move to less formal footwear in social settings, but also some workplaces, and generational differences are major decline factors.
The growing eco-friendly trend and increasing awareness of the potentially harmful ingredients in products will also hinder the demand for polishes in the future. In order to ensure gloss and shine, polishes incorporate heavy chemicals like silicone and petroleum-based ingredients, which are not appreciated by consumers, especially in urban areas.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Lithuania with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Polishes research and analysis database.
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