Unilever leads home care market with 25% value share

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Unilever remains the leading player in overall home care market with 25% value share. According to Euromonitor International, this is due to its strength in hand wash detergents, where the company led with over 34% share in 2016.

The company also dominates liquid fabric softeners with 94% share and ranked fourth in standard powder detergents with 5%. The company continued to invest in its range at the end of the review period, notably re-launching Sunlight 2-in-1 in standard powder detergents with improved cleaning power and fragrance. The wider Sunlight brand, meanwhile, also benefited from a 13-week radio drama aired during the year.

With Nigeria slipping into recession, reducing the purchasing power of customers, there was a marked shift towards more affordable and multifunctional options in home care products, which benefited bar detergents, hand wash detergents and bleach brands such as Omo, Sunlight, both from Unilever; Canoe from PZ Industries; So Klin from Eko Supreme Resources; Ariel from Procter & Gamble, Hypo from Hypo division of Multipro Enterprise Limited among others.

Euromonitor reported that Eko Supreme and PZ Industries in second and third place respectively, however, gained share marginally in the year, benefiting from their focus on dynamic bar detergents. However, this was solely due to the impact of high inflation and a weak Nigerian currency in the year, with the latter resulting in price increases for many imported brands. These trends are, in the interim, being counterbalanced by strong consumer price-sensitivity and trading down, as a result of high unemployment and declining real disposable income levels.

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Nigeria is expected to continue to face economic struggles during the forecast period, due to the country’s dependence on oil and ongoing unrest. Many consumers are, thus, likely to face financial constraints in the forecast period, particularly as inflation is expected to remain high and the naira is expected to remain weak. Consequently, affordable and multifunctional home care products are expected to continue to see strong retail volume sales growth in the forecast period, with this trend mainly benefiting bar detergents, hand wash detergents and standard powder detergents.

 

Read Also:  Fixed Income Report for 6th of June 2017

 

 

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(Marketingedge)

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