New Market Research Report: Polishes in Thailand

Current value sales of polishes rose by 4% to reach Bt844 million in 2014. The category accounts for 2% of total home care sales in Thailand. Floor polish saw a rise of 2% in value sales, slower than the previous year’s growth of 4% and the slowest growth amongst the other polishes categories. Metal polish and floor polish both saw the highest growth of 4% during the year, slightly lower than previous year’s figures, but furniture polish is the strongest performer. It accounted for 49% of polishes value sales amounting to Bt447 in 2014, followed by shoe polish with a 33% value share, 4% growth and a sales value of Bt278.

Competitive Landscape

SC Johnson & Son (Thailand) earned a 51% value share and sales value of Bt430 million for overall polish products in 2014. Additionally, the company led in floor polish, furniture polish and shoe polish. The company earned Bt78 million or a share value of 61% in floor polish, Bt131 million and a value share of 37% in furniture polish, and Bt221 million with a value share of 79% in shoe polish. In metal polish Amway (Thailand) led in 2014 with a 27% share value and Bt22 million. Under floor polish, Far East Peerless Thailand ranked at a very distant second with less than a 1% value share and earnings of Bt0.5 million. Siam Waxy Standard gained a 28% value share with Bt99 million to rank second in furniture polish followed by Reckitt Benckiser (Thailand) with a 10% value share worth Bt36 million. Reckitt Benckiser (Thailand) Ltd also ranked second in metal polish with an 8% value share and Bt7 million followed by Wongkamol with a 2% value share and Bt1.5 million. Cris Go (Thailand) generated a 13% value share and Bt36 million to rank second in shoe polish, whilst Mitcharoen Costmetic held a 1% value share and generated Bt2 million in that category to rank third.

Full Report Details at
- http://www.fastmr.com/prod/1038537_polishes_thailand.aspx?afid=301

Industry Prospects

Value sales of polishes are expected to rise at a CAGR of 1% at constant 2014 prices over the forecast period to reach Bt950 million in 2019. Polish products in the future will emphasise innovation and long-lasting scents. Manufacturers will focus more on a marketing strategy called Experiential Innovation Marketing, encouraging consumers to gain their own experiences with a brand by themselves through many interesting marketing activities. Innovation will be applied to add value for products and maintain the brands’ loyal consumers. Hygiene and health concerns will be factors that drive sales and awareness of these products. Changing lifestyles of urban people will also drive sales directly because consumers also care about maintaining the appearance of their living places and things they own. An opening of the AEC will increase an opportunity to enter and penetrate the Asian market.

Report Overview

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