The overall polishes category experienced a similar performance in 2020 compared to the previous year. However, there were differences across the category with shoe polish retaining strong sales growth while furniture polish and floor polish experienced various degrees of decline.
Although home seclusion and more remote working meant people spent prolonged periods at home, diminishing disposable income in light of the considerable economic fallout from the pandemic concentrated consumer spending on products deemed essential in a bid to secure high standards of cleanliness and hygiene in homes. This led to a preference for home disinfectants and multi-purpose surface care at the expense of furniture polish.
The majority of the leading companies across each category in polishes witnessed a contraction in their value shares in 2020 due to the unprecedented change in the market caused by COVID-19. Nevertheless, all retained their positions.
Once lifestyles begin to return to normal as the pandemic recedes, sales of polishes are expected to witness stronger growth, with annual rates being higher than that seen over the forecast period. Once the heightened need for disinfectants drops, demand will rise again for polishes that support their respective surfaces for longer.
Floor polish is expected to attain a much higher growth rate than that seen over the forecast period as consumers will continue to prioritise home cleaning. Growth is also set to rise in furniture polish though annual growth rates will remain modest and only just in positive territory, over the remainder of the forecast period.
Sales of shoe polish are also expected to attain solid growth over the forecast period. As lifestyles return to normal and people return to their places of work, people will once again wear more formal shoes.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Ukraine 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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