Today: October 22, 2016, 11:33 pm

Ireland polishes market: EUR 7 million industry in 2012
Polishes in Ireland - a new market research report on 2014-04-24 02:42:03
There are three strong leaders in the Ireland polishes market, with Allegro accounting for 30% value share in 2012 followed by Reckitt Benckiser with 27% share and Punch with 25% share. While Allegro and Punch are Irish companies, they both represent multinational brands, with Allegro representing SC Johnson´s brands such as Pledge and Klear and Punch being a subsidiary of pan-European Spotless Group. Reckitt Benckiser meanwhile offers a number of iconic brands, notably dominating metal polish with its Brasso and Silvo brands accounting for a combined 67% value share and ranking a strong second in furniture polish with Mr Sheen at 34% value share. These players thus offer well-recognised brands with a strong reputation for quality and also have the widest distribution.

Volume decline in 2012 was also linked to consumers´ cost considerations, however. Ongoing economic problems for many households resulted in consumers seeking to reduce their spending wherever possible. This resulted in many cutting back on the range of home care that they buy and focusing only on products that they deem essential, with this impacting polishes heavily. Floor polish for example saw the sharpest 13% volume decline in 2012 over the previous year, with consumers becoming more likely to simply clean floors with diluted household antiseptics/disinfectants or hand dishwashing.

Polishes will continue to suffer from consumers´ desire for convenience during the forecast period. There is expected to be an ongoing shift away from home decor that requires polishing. Similarly, there is expected to be a further shift away from formal footwear that requires polishing. Consumers will continue to want homes and footwear that is clean and attractive but they will be unwilling to make the extra effort required for products that require polishing, such as hardwood floors, wooden furniture and brass fixtures or leather shoes.

Key Headlines

- 2% current value growth from 2011 to reach almost €7 million in 2012
- Busy lifestyles, cost considerations and higher unit prices result in ongoing volume decline
- 6% current value unit price growth seen in 2012
- Allegro Holdings and Reckitt Benckiser extend lead by over half a percentage point each from 2011 to reach 30% and 27% value share respectively in 2012
- 10% overall constant value decline expected for forecast period

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