Many consumers in South Korea no longer take the time to polish furniture or footwear due to time constraints and changing materials. Therefore, demand for shoe polish is set to further decline over the forecast period, as casual office attire becomes increasingly popular and acceptable, while demand for formal dress shoes is expected to decrease over the forecast period.
Many local consumers prefer easier ways to care for their footwear, with a further move away from traditional formats that require additional brushing and polishing afterwards. On the other hand, the liquid format requires less effort, as it involves the use of a sponge wiper.
As demand for polishes in South Korea continues to shrink in the coming years, it is likely to be less attractive to new players. Therefore, the overall competitive landscape of the category is set to remain highly consolidated, with Malpyo retaining its dominance of shoe polish with its wide product portfolio, and SC Johnson Korea Inc dominating furniture polish with its Pledge brand.
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Understand the latest market trends and future growth opportunities for the Polishes industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This is the aggregation of shoe, floor, furniture and metal polish.See All of Our Definitions
This report originates from Passport, our Polishes research and analysis database.
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