Home Care in Hungary
ReportsnReports.com adds Euromonitor International Research Report “Home Care in Hungary’’ to its store.
This Euromonitor market report provides market trend and market growth analysis of the Home Care industry in Hungary. With this market report, you’ll be able to explore in detail the changing shape and potential of the industry. You will now be able to plan and build strategy on real industry data and projections.
The Home Care in Hungary 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
Our market research reports answer questions such as:
- What is the market size of Home Care in Hungary?
- What are the major brands in Hungary?
- What is the importance of the trend towards environmentally friendly products in home care?
- What are the main growth drivers of the home care market in Hungary?
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Home Care market research database.
- Each report is delivered with the following components:
- Report: PDF and Word
- Market statistics: Excel workbook
- Sample Analysis
EXECUTIVE SUMMARY
Home care value sales decline
Although in previous years value sales in home care grew continuously, even in the economic crisis, in 2010 growth stopped and the industry saw value sales decline, as did volume sales. As there was no significant unit price increase in 2010 the industry was not able to benefit at all from the extra profit that comes from rising prices. However, not all categories declined, in fact only laundry care, polishes and surface care saw falling value sales, but, as laundry care is by far the biggest category in home care, its decline dictated the performance in the overall home care industry.
Although in previous years value sales in home care grew continuously, even in the economic crisis, in 2010 growth stopped and the industry saw value sales decline, as did volume sales. As there was no significant unit price increase in 2010 the industry was not able to benefit at all from the extra profit that comes from rising prices. However, not all categories declined, in fact only laundry care, polishes and surface care saw falling value sales, but, as laundry care is by far the biggest category in home care, its decline dictated the performance in the overall home care industry.
Home care volume sales decline
As customers’ spending power has not yet recovered to the levels seen before the economic crisis and consumers were generally only spending on food and essential goods in retail trade stores, volume sales of home care declined across the whole industry, with almost no home care category recording growth in volume terms in 2010. Although demand for cheaper products was growing, the forging ahead of private label and economy products was not able to bring about a significant volume sales increase. Manufacturers were unable to raise prices, which resulted in very strong competition in the short term.
As customers’ spending power has not yet recovered to the levels seen before the economic crisis and consumers were generally only spending on food and essential goods in retail trade stores, volume sales of home care declined across the whole industry, with almost no home care category recording growth in volume terms in 2010. Although demand for cheaper products was growing, the forging ahead of private label and economy products was not able to bring about a significant volume sales increase. Manufacturers were unable to raise prices, which resulted in very strong competition in the short term.
Multinationals dominate home care
As in previous years the home care industry in Hungary was still dominated by major international players, with more than 80% of value sales accounted for by multinationals. In the top five companies there was only one domestic player, EVM Zrt, which is owned by Czech company Bochemie Sro. Multinationals have very strong backgrounds and resources with which they can ensure innovation, strong marketing activities and a wide range of premium products, so customers are more easily able to find their products to a greater degree on the shelves of retail trade stores than the products of small domestic companies.
As in previous years the home care industry in Hungary was still dominated by major international players, with more than 80% of value sales accounted for by multinationals. In the top five companies there was only one domestic player, EVM Zrt, which is owned by Czech company Bochemie Sro. Multinationals have very strong backgrounds and resources with which they can ensure innovation, strong marketing activities and a wide range of premium products, so customers are more easily able to find their products to a greater degree on the shelves of retail trade stores than the products of small domestic companies.
Private label performs well in 2010
In general, private label was able to perform better than some multinational companies, with private label recording dynamic growth in value sales in the overall industry in 2010. As customers’ spending power is declining, demand for good-quality but cheap products is growing, and this trend is boosted by the expansion of discounters, where private label products usually have a greater share than commercial brands. Although private label was not able to record growth in all categories – in bleach, polishes and surface care value sales of private label products declined, for example, due to customers’ loyalty to and the low price of commercial brands in areas such as surface care in particular where well-known brands are also offered at affordable prices.
In general, private label was able to perform better than some multinational companies, with private label recording dynamic growth in value sales in the overall industry in 2010. As customers’ spending power is declining, demand for good-quality but cheap products is growing, and this trend is boosted by the expansion of discounters, where private label products usually have a greater share than commercial brands. Although private label was not able to record growth in all categories – in bleach, polishes and surface care value sales of private label products declined, for example, due to customers’ loyalty to and the low price of commercial brands in areas such as surface care in particular where well-known brands are also offered at affordable prices.
Positive growth expected from 2011 after 2010’s decline
After sales declined in both value and volume terms in 2010, a return to growth is expected over the forecast period. After a recovery in the spending power of customers, value and volume sales are predicted to grow, although their rates will be similar, which means that due to strong price competition manufacturers will not be able to raise their prices in order not to negatively affect sales of products in home care.
After sales declined in both value and volume terms in 2010, a return to growth is expected over the forecast period. After a recovery in the spending power of customers, value and volume sales are predicted to grow, although their rates will be similar, which means that due to strong price competition manufacturers will not be able to raise their prices in order not to negatively affect sales of products in home care.
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Contact:
Mr. Priyank
7557 Rambler road,
Suite 727, Dallas, TX 75231
Tel: + 1 888 391 5441
E-mail: sales@reportsandreports.com
http://www.reportsnreports.com
Visit Our Blog : Market Research Reports
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