Shoe Care Market Segmented By Shoe Care, Shoe Clean, Shoe Care Accessories Product in Exclusive, Hypermarket, Online Retailers, and Other Stores
Industry: Consumer Goods
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP17404
According to Persistence Market Research, the shoe care market generated a revenue of US$ 5,405.2 Mn in 2022. The demand for shoe care will accelerate, with the top market players holding a prominent share of the shoe care market in 2022. The global market for shoe care is expected to reach US$ 9,628.2 Mn by 2033, growing at a ~ 5.4% CAGR from 2023 to 2033.
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Shoe Care Market Size (2022A) |
US$ 5,405.2 Mn |
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Shoe Care Market Size (2023E) |
US$ 5,673.0 Mn |
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Projected Shoe Care Market Value (2033F) |
US$ 9,628.2 Mn |
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Value CAGR (2023-2033) |
~5.4% |
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Collective Value Share: Top 3 Countries (2022) |
~25% |
Shoe has always included formal, informal, and athletic shoes, with variations in design and style depending on the activity. The usage of shoes in daily life over flip-flops and other casual footwear has also increased due to worries about protecting the feet from the elements on the ground, such as sharp rocks, thorns, and pieces of shattered glass. Due to this, there is a greater demand for shoe care products to keep them well cared for, clean, and in good condition.
For the upkeep of the footwear, shoe care comprises items like polish, sprays, lotions, wax, and brushes. Regular users' need to maintain them in proper quality, color, and shape which has increased the market for shoe care solutions around the world.
Additionally, there are other types of shoe care products, including shoe clean, shoe care, and other upkeep items that are helpful in keeping the shoes looking as close to new and shiny. In the updated study by Persistence Market Research, a wide-ranging analysis of several of the major difficulties faced by companies that provide shoe care has also been covered in detail.
The global shoe care market is being shaped by expanded Internet shopping, ongoing product design advancements, and a strong emphasis on marketing methods by manufacturers. In the upcoming years, it is a continued product innovation that would boost the market all over the world. Sales in the market are anticipated to increase due to partnerships between major players and increased consumer demand for eco-friendly products.
High disposable income for a sustainable approach, rising preference for wearing upscale, high-end footwear, and ongoing technological advancements are all predicted to drive market growth at a notable CAGR of almost 5.4% over the course of the forecast period. Over the historic period of 2017–2022, the shoe care market augmented at a significant CAGR of ~3.9% in terms of value.
Manufacturers of footwear are constantly concentrating on the advancement of technology and new product creation. For instance, Adidas in 2018, indicated that it would be using 3D printing technology, which is more affordable and effective than traditional production techniques.
Market participants are consistently advancing their product innovation through R&D in order to outpace the fierce competition. When new shoes are released, there is often a greater need for maintenance fixes for shoe-related issues.
The shoe care sector is benefiting from the launch of new technologically advanced shoes, which has resulted in increased demand for their maintenance products and fragmented the market even further. The industry's major players are highly concentrating on providing premium materials with attributes like waterproofness and dust-resistance.
Along with crucial components like accelerometers, gyroscopes, and magnetometers, product design elements like ergonomics and layout are other areas where players hope to encourage the development of distinctive products.
Numerous shoppers from all around the world have expressed interest in the popular style of high-ankle leather shoes. The number of television commercials and endorsements with well-known celebrities has increased during the previous few years. As a result, the popularity of leather shoes among consumers is rising globally, which is gradually increasing the demand for associated shoe care products. Due to its sensitivity to temperature changes, leather requires routine maintenance, which raises the demand for leather shoe care solutions.
The introduction of orthopedic and medical shoes has increased innovation and R&D in the medical field, which may contribute to increased demand for shoe care products. Every day more people become aware of the need of maintaining good physical health.
Patients with diabetes and those with other orthopedic issues have chosen pairs of orthopedic shoes that have received medical approval. As a result, it is anticipated that over the projection period, demand for shoe care products that are used to maintain these medical shoes would increase.
The supply of items at reasonable rates will probably have an impact on demand for shoe care. Consumer tastes are shifting because of the possibility to select shoes from among a huge selection of related goods. Sales of shoe care accessories are being hampered by consumers' preference for inexpensive, quickly replaceable shoes.
Sales of shoe care products are declining as use-and-throw footwear becomes more popular because of its low cost and ease of upkeep. In addition, companies are producing products with lower maintenance and alternative costs due to the fierce rivalry in the market. As a result, consumer desire for such items is negatively affecting the sales of shoe care products.
How Will the Market Be Affected by the Growing Adoption of Formal Shoes in the U.S.?
Corporate headquarters in the U.S. are well-established, which is projected to encourage the wearing of formal shoes and, as a result, increase sales of polish and other shoe care products. Additionally, the popularity of wearing formal shoes to weddings and business events is predicted to increase demand for shoe care solutions.
The working class is increasingly adopting mobile phones, which gives users access to the vast quantities of shoes that are overrunning online retail shelves and is expected to increase demand for various shoe care solutions. The U.S. market contributed a 16.5% of share in the global market in 2022.
Will the Personalization of Shoes via 3D Printing Services Encourage Indian Consumers to Use Shoe Care Products?
The shoe care market is changing due to the personalization trend and is expected to grow at a CAGR of 10.4% during the forecast period. India's economy is developing, making it susceptible to countless technical breakthroughs and product innovation. The Indian populace is increasingly adopting the digital ecosystem, which also increases access to the variety of goods offered by online retailing platforms.
Potential for shoe customization and, hence, shoe care products may find a potential market in the country. In line with this, millennials in the country are enthusiastically adopting Western trends. The possibility of custom shoes made through 3D printing will meet every person's needs and present a wealth of prospects for the country’s shoe care industry players.
Will the Aggressive Business Expansion Strategy by Players in China Affect Sales?
The economy of China has changed because of China's vigorous expansion of its commercial capabilities and expanding consumer goods consumption. The nation produces more consumer goods than the rest of the world's economies combined, ranking among the top producers worldwide.
Since more than ten years ago, a steady increase in industrial imports, exports, output, and financial investments has supported a major rise in the Chinese market. Sales of shoe care products in the nation are expected to increase at a CAGR of 11.1% because of frequent consolidation amongst new firms.
Will the Category of Formal Shoes Continue to be a Prominent Category in Application Type?
According to study, compared to other segments, formal shoes account for a sizable revenue proportion. Shoe care products are becoming more popular and are more expensive, which has helped the category keep a larger market share than other product categories. Additionally, the shoe care market is expected to rise rapidly over the course of the projected period.
In the global market for shoe care, the formal shoe care category holds a significant 39.3% share.
Will there be a Noticeable Uptick in Online Shoe Care Product Sales?
Supermarkets and hypermarkets have a substantial market share in terms of sales channels. Other significant sales channels include multi-brand stores, distributors, and wholesalers. However, because of increased digital adoption, online sales are expected to grow rapidly over the projection period.
In the near future, the sales of shoe care goods through online channels are projected to be significantly impacted by the rapidly expanding online consumer and payment system penetration.
Players in the business are developing innovative strategies to save expenses and increase output. These actions are being done in response to increased input costs and retailer power. Established companies are reexamining their operational chains and looking at them from both the input and output perspectives.
Building new strategic relationships with key players or suppliers to attain new levels of efficiency will likely help players reduce operational expenses in light of this.
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Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
By Product
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The shoe care market is valued at US$ 5,405.2 Mn as of 2022.
Shoe care market is projected to increase at 5.4% CAGR and is expected to be valued at around US$ 9,628.2 Mn by 2033 end.
S.C. JOHNSON & SON, Fiebing Company, Inc., Caleres Inc., C.A. Zoes Mfg Co., Woodland Worldwide, Collonil Company, RSPL Limited, New Balance Athletics, Inc., C&J Clark International Limited, Salamander France SAS, Lincoln Shoe Polish c/o Maxton & Company, Griffin Shoe Care, TARRAGO BRANDS INTERNATIONIAL, S.L., and OTTER WAX LLC among others.
North America currently leads the global market. In terms of value sales, the region accounts for a notable share of 24.5%.
