PROSPECTS AND OPPORTUNITIES
Consumers will seek to maintain items in good condition for longer
Polishes in Mexico is expected to maintain fairly stable retail volume sales and see a moderate retail current value CAGR in the forecast period. Shoe polish is expected to remain the largest category in polishes in value terms, and see the strongest value growth rate, with consumers in certain economic segments favouring specialised products, and the population showing interest in preserving their footwear.
Polishes set to benefit from urban expansion and nearshoring
According to INEGI in its ENADID (National Survey of Demographic Dynamics), Mexico reported a total of 38.1 million homes in 2023, which was 10% more than in 2018.
Relaxation of dress codes in the office set to prevent volume growth for shoe polish
Shoe polish in Mexico is set to see a static retail volume CAGR in the forecast period, due to the increasing popularity of casual attire and relaxed dress codes in office settings. Sneakers/trainers, which are easily wiped clean with a damp cloth, are now widely accepted, even when wearing a formal suit.
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Overview:
Understand the latest market trends and future growth opportunities for the Polishes industry in Mexico 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.
If you're in the Polishes industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Polishes in Mexico report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Polishes in Mexico?
- Which are the leading brands in Polishes in Mexico?
- How are products distributed in Polishes in Mexico?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 impacted demand? Where have sales increased due to stockpiling amidst national lockdown?
- How have enforced home seclusion and social distancing measures following COVID-19 changed usage patterns for Polishes products?
- Where is future growth expected to be most dynamic?
- How important will sustainability and recycling be in generating future growth?
Polishes in Mexico - Category analysis
KEY DATA FINDINGS
Private label capitalises on performance attributes
Consumers feel closer to value-added products thanks to e-commerce
Wellness trend spotlights natural ingredients in polishes, such as honey
Consumers will seek to maintain items in good condition for longer
Polishes set to benefit from urban expansion and nearshoring
Relaxation of dress codes in the office set to prevent volume growth for shoe polish
Home Care in Mexico - Industry Overview
Home care in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for home care?
DISCLAIMER
The following categories and subcategories are included:
Polishes
- Floor Polish
- Furniture Polish
- Metal Polish
- Shoe Polish
Polishes
This is the aggregation of shoe, floor, furniture and metal polish.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Polishes research and analysis database.
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