Shoe Care Market Revenue Opportunities and Gross Margin Analysis By 2025

Felton, Calif., USA, Mar. 16, 2021 — /EPR Network/ —

The Global Shoe Care Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The global shoe care market is estimated to reach USD 6.0 billion, by 2025, and is projected to grow at a CAGR of 3.9% from 2019 to 2025, according to a new report by Million Insights. The growing demand of premium footwear such as Blucher, and Oxford shoes among consumers is expected to propel the demand of cleaners, and polishes. The rise in the corporate development, infrastructure is expected to surge the market growth especially in countries such as China, India, and Vietnam.

Key Players:

• C. Johnson & Son, Inc.
• Caleres
• Payless ShoeSource
• Shinola
• Charles Clinkard
• Salamander
• Implus LLC
• Grangers International
• Angelus Shoe Polish
• Griffin Shoe Care

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Growth Drivers:

The rapid rise in the population of female individuals is anticipated to propel the demand for formal footwear category in the next few years. Owing to the increasing purchasing power of people living in urban areas especially in developing countries such as India and China. Additionally, the growing disposable income is also expected to bolster the market growth. Growing consumer inclination towards branded luxury footwear is boosting the demand for the Application. Furthermore, consumers are ready to spend high money for cleaning, accessories, and polishing products.

The increasing penetration of internet, and smart phones, is projected to increase the access of products to consumers in the coming few years. The manufacturers in the market are spending huge amount of money on R&D for launching new product such as medicated footwear due to its health benefits.

In the recent years, owing to the rising awareness among consumers regarding health has spurred the demand for sports footwear category significantly. In addition, technological advancement has opened huge opportunities for developing shoes especially for diabetes, orthopedic related disorders. This is a key factor in driving the demand for the product in the forecast period.

Product Outlook:

• Polish
• Cleaning
• Accessories

Application Outlook:

• Formal
• Casual
• Sports

Based on application, the shoe care market is bifurcated into formal, sports, casual, and others. In 2018, the formal shoe, held the highest share of 53.1% in the overall market owing to the high demand of formal shoes in parties, offices, special events, business events.

The casual footwear is projected to grow at a CAGR of 4.4% over the forecasted period. This growth is primarily attributed to the growing number of distribution channels especially in the developing economies in the Asia Pacific such as China and India.

Regional Outlook:

In 2018, North America accounted for market share of over 35.0% in the overall market. The growing corporate culture in Canada, the U.S. is anticipated to increase the demand of cleaning, and polish products in the formal footwear category.

The Asia Pacific region is estimated to grow at the fastest CAGR of 5.6% during the forecast period, 2019 to 2025. The rise in the corporate development, infrastructure is expected to surge the market growth especially in the countries such as China, India, and Vietnam.

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