Polishes is predicted to witness slower growth over the forecast period in comparison to the review period, especially if inflation continues to rise. Consumers will trade down and buy cheaper brands, as well as also in terms of furniture polish, buying multi-purpose cleaning products instead, as they are less expensive.
Apart from shoe polish and furniture polish, other polishes are still niche, but floor polish in particular has good prospects for growth if the economy recovers over the forecast period. Consumers' desire for sophisticated homes and the increasing use of tiles and modern floors for homes in most urban centres could help drive growth over the forecast period.
Furniture polish will benefit from growing urbanisation and the development of high-end real estate in the major cities such as Lagos, Abuja, and Port Harcourt. A growing economy and a rising middle- and upper-income population will also drive consumer spending on higher quality furniture, which is set to boost demand for care products such as furniture polish.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Nigeria 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 Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of shoe, floor, furniture and metal polish.See All of Our Definitions
This report originates from Passport, our Polishes research and analysis database.
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