Economic recovery is expected to boost demand for polishes over the forecast period, as consumer spending power improves. Consequently, retail sales are set to increase at a current value CAGR of 19% (2024 constant value CAGR of 3%) over the forecast period, while retail volume sales rise of at CAGR of 4%.
Furniture polish is expected to record the best performance within the polishes category over the forecast period, with retail sales set to increase at a current value CAGR of 20%. While the category remains niche, it has strong potential for growth, particularly with the development of high-end real estate and housing in major cities.
Although sales have been negligible up to 2024, floor polish has strong potential for significant growth in line with economic recovery. The rise of modern and high-end housing, particularly those using tiles, will drive demand for such products.
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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.
Polishes
This is the aggregation of shoe, floor, furniture and metal polish.
See all of our definitionsThis report originates from Passport, our Polishes research and analysis database.
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