2014-02-04 00:55:03 - Polishes in India - a new market research report on companiesandmarkets.com
Reckitt Benckiser Ltd continued to dominate the India polishes market with its brands- Cherry Blossom and Mansion in 2012. The company constituted a value share of 68% due to strong sales and leadership in different polishes. Furthermore, Reckitt Benckiser continued to be the only significant player in floor polish, furniture polish and metal polish and therefore enjoyed dominant leadership.
Polishes remained stagnant due to lack of innovations and a slowdown in the use of products in 2012. However, 2012?s current value growth of 7% for polishes was marginally faster compared to the review period CAGR of 6%. The faster growth in 2012 was mainly due to the growth in furniture polish and metal polish that started to find increased use.
predicted to grow by a constant value CAGR of 1% to reach Rs3 billion by 2017.With limited growth expected in overall polishes, shoe polish in liquid format is likely to sustain growth over the review period. Surprisingly, some polishes including floor polish will decline in constant value terms. Manufacturers are likely to slash prices of floor polish which will experience a tough time over the forecast period. With continuously improving urban lifestyles and increasing use of metal as door handles and decoration pots, metal polish is likely to experience faster growth.
- Current value sales of polishes grow by 7% to reach Rs2.9 billion in 2012
- Polishes continues to remain stagnant with no new launches in 2012
- Average unit prices grow marginally due to uptake of newer products such as furniture polish and metal polish
- With value share of 68%, Reckitt Benckiser maintains its leadership in 2012
- Polishes is predicted to grow by a constant value CAGR of 1% to reach Rs3 billion by 2017
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