Polishes are expected to see extremely limited growth and dynamism over the forecast period. A lack of demand for such products will lead to sales being fairly stagnant. However, certain segments, such as liquid polishes will gain more prominence within shoe polish, as convenience and variety takes centre stage for consumers.
Products Covered are as
Spray Polishes or Aerosols
Furniture Polish Wipes
Few Major Players are
Reckitt Benckiser PLC
Shoe Polish Market - Overview
The Shoe Polish Market in India is worth around Rs 110 crores, out of which the kirana stores are worth around 80 crores. The market is dominated by Cherry Blossom, which controls nearly three fourth of the wax polish segment, around 62 % of the liquid shoe polish, and has market share of 93% of the 93 % of the canteen stores depot (CSD) segment. Around 85% of the consumers in the Shoe Polish Market are from the urban areas and 15% from the rural areas.
Shoe Polish Market - Facts
Shoe Polish protects the shoes from moisture, water, and becoming hard. It provides the shoes with a waxy coating and a shine. The shoe polish can be segregated into two different types, such as wax based shoe polish and liquid based shoe polish. There are other products in the Shoe Polish Market, such as shoe shine oil, shoe leather nourishing cream, shoe leather softener, etc. The company gets it wax imported from countries like Columbia and Brazil, and some of the wax also comes from Himachal Pradesh.
Shoe Polish Market - Cherry Blossom
The Reckitt Benckiser markets the brand Cherry Blossom, which is one of the leading FMCG company in India. The brand registered a growth rate of 18% to 19 % per year, in 2006. Cherry Blossom completed its 100 years in India in 2006. The brand introduced several new products such as shoe shampoo, colored wax polish, quick wax, anti-ageing waxes, etc.
Shoe Polish Market - Shoe Polish Manufacturers
Hasmukhrai & Company
Polo Polish Co. (P) Ltd.
Gee Kay Industries
Impex International Corporation
Rolex Lanolin Products Limited