The market for polishes and creams for footwear or leather in Croatia experienced fluctuations from 2013 to 2023, showing signs of steady decline. In 2023, the market stood at $2.6282 million. Over the past decade, the market demonstrated significant variations with a particularly sharp decline in 2015 and a substantial contraction in 2020, followed by a brief recovery in 2021. The Compound Annual Growth Rate (CAGR) for 2018 to 2023 was -2.68%, indicating a persistent downward trend.
Future trends to watch for include:
- Potential stabilization post-2023 as markets adjust to new economic conditions.
- Increased emphasis on sustainable and eco-friendly polishes, driven by consumer preference shifts.
- The impact of digitalization on traditional retail, possibly affecting sales channels.
- Economic recovery post-pandemic potentially increasing disposable income and demand.
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