PROSPECTS AND OPPORTUNITIES
Polishes expected to see a continuous decline in the forecast period
Polishes in South Korea is expected to face a continuous decline in retail current value sales throughout the forecast period. Furniture polish, which is a niche, and primarily supported by a small group of loyal consumers, is set to see little movement in value sales.
Multi-purpose cleaning products threaten traditional polish market
Polishes is set to face ongoing decline during the forecast period as consumer preference shifts toward multi-purpose cleaners and other modern cleaning solutions, such as all purpose wipes. Furniture, metal, shoe, and floor polish are all increasingly perceived as niche or outdated, especially amongst younger consumers, who prioritise convenience and versatility in their cleaning routine.
Rising distribution share for retail e-commerce
An increasing number of consumers in South Korea appreciate shopping online, with more people purchasing polishes via retail e-commerce platforms than in most other countries globally. This is due to the convenience offered by this channel, and because the range of products available is wider than in offline retailers.
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Overview:
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.
If you're in the Polishes industry in South Korea, 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 South Korea 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 South Korea?
- Which are the leading brands in Polishes in South Korea?
- How are products distributed in Polishes in South Korea?
- 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 South Korea - Category analysis
KEY DATA FINDINGS
Polishes registers a sharp decline, mainly due to falling sales of shoe polish
Low growth for the niche of furniture polish
Polishes is a niche and fragmented category
Polishes expected to see a continuous decline in the forecast period
Multi-purpose cleaning products threaten traditional polish market
Rising distribution share for retail e-commerce
Home Care in South Korea - 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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