Market Report, "Surface Care in Venezuela", published

From: Fast Market Research, Inc.
Published: Sun Mar 20 2016

The lack of foreign currency for imports of raw materials and finished products, as well as depleted inventories, continued to adversely impact retail volume sales of products in 2015. Consumers stockpiled products and inventories ran out within weeks, as there was no confidence that products would be available in the short to medium term. Moreover, supply levels remained low. This was a consequence of import restrictions applied by the government from the end of 2011. These had a negative impact on retail and business sales of surface care products, preventing consumers from choosing from a wide variety of different brands. The range of products in terms of quality and price points was also limited.

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Competitive Landscape

Colgate-Palmolive strengthened its leading position in surface care in 2015 to account for a 56% share of retail value sales. The company’s Ajax brand held a 23% share of retail value sales in home care disinfectants and a 65% share in multi-purpose cleaners. Colgate-Palmolive is recognised by Venezuelan consumers as a symbol of tradition and quality. Moreover, its expansive distribution strategy has achieved a high level of penetration among different consumer groups nationwide.

Industry Prospects

Surface care is expected to register a retail volume CAGR of 2% over the forecast period, thereby improving on the negative 3% review period CAGR. The tough operating conditions in the country exacerbated in 2014 and 2015, leading to significant levels of scarcity. Thus, there is likely to be strong pressure from the public to encourage the government to take action to facilitate imports or improve local production. However, the forecast growth rate can be considered low when taking into account that some surface care subcategories are not yet mature and still have plenty of room for growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Surface Care industry in Venezuela 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 Surface Care industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Surface Care in Venezuela market research report includes:

* Analysis of key supply-side and demand trends
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country

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You may also be interested in these related reports:

- Surface Care in Turkey
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