Boston, MA -- (SBWIRE) -- 06/03/2014 -- Polishes saw volume declines throughout the review period and in 2013 it saw the worst performance since 2010 as a result of the continuing recession. Polishes is a strange area in that it is diminishing in popularity and relevance thanks to some larger trends which have been affecting the market for some time and not necessarily connected to the economy. For example, hardwood, tiles and metal are declining in popularity as preferred materials for homeware and house products and consumers with busier lifestyles are preferring products which require less maintenance. Polishing is regarded as slightly old-fashioned and too time-consuming. So in any case there is a general rise in prices in this area (affected by the recession), and there is an underlying decline in all categories. All these declines have been in turn considerably compounded by the recession.

Competitive Landscape

There are three strong leaders in polishes, with Allegro accounting for a 30% value share in 2013 followed by Reckitt Benckiser with 26% 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. These players thus offer well-recognised brands with a strong reputation for quality and also have the widest distribution.

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Industry Prospects

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 are 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.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Polishes industry in Ireland with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Polishes industry in Ireland, our research will save you time and money while empowering you to make informed, profitable decisions.

The Polishes in Ireland market research report includes:

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