High inflation is expected to remain in effect into 2024, and this will result in widespread economising among the majority of Serbians. With polishes not regarded as essential home care products, demand for furniture polish, metal polish, and floor polish could come under severe pressure - although shoe polish is somewhat immune due to these products being seen as necessary.
Price stabilisation over the longer-term forecast period is set to positively impact sales of polishes in Serbia, leading to positive volume growth from 2024-2025. Urbanisation, economic development, and the emergence of a large group of affluent young urban professionals in cities throughout the country present a strong opportunity for the leading polish brands to expand their respective consumer bases.
While the forecast period is expected to see demand for polishes continue to rise, sales will be challenged by rising competition from other home care categories. For example, the variety of products present in floor polish and furniture polish remains quite narrow, and there is only a limited range of brands available.
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Understand the latest market trends and future growth opportunities for the Polishes industry in Serbia 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 Serbia, 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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