Shoe Care Market Analysis Report By Product, Application, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global shoe care market size was estimated at USD 4.6 billion, in 2018 and is projected to grow at a significant rate over the forecast period. The growth of the market is majorly attributed to the high demand for footwear owing to continuous development in the product, and design. Moreover, the growing trend of e-commerce is also expected to be a key factor responsible for market growth.

The rapid rise in the population of female individuals is anticipated to propel the demand for the 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 market growth. Growing consumer inclination towards branded luxury footwear is boosting the demand for the Application. Furthermore, consumers are ready to spend high money on cleaning, accessories, and polishing products.

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

In recent years, owing to the rising awareness among consumers regarding health has spurred the demand for the 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.

Application Insights

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 for formal shoes in parties, offices, special events, business events. The growing population of working women professionals is also anticipated to foster the demand for the formal footwear segment.

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. Easy access to products through the online sector is expected to proliferate the market growth.

Distribution Channel Insights

In 2018, the offline channel held the largest market share of over 81.0% in the overall market. The availability of a wide range of products across hypermarkets, supermarkets is a prominent factor gaining traction among consumers.

The online channel is projected to grow at a CAGR 0f 5.9% during the forecasted period. the growing network of e-commerce platforms such as Amazon, Flipkart, Jabong, Myntra is expected to boost the market growth. The online sector is also expected to have significant growth over the forecast period, as the top manufacturers sell their products through online platforms, with a focus on better consumer experience, value-added service offers such as home delivery, and discount coupons.

Product Insights

The shoe care market is divided into polish, cleaning, and accessories depending on the product. In 2018, the polish segment held a market share of over 60.0% in the overall market. Shoe polishes are an essential product required for both leather footwear and formal footwear which offers softness, shine to the shoe. These polishes help in protecting shoes from water, and moisture. Some of the popular types of polish include, paste, cream, liquid, and spray.

Cleaning products are anticipated to have significant growth in the next few years. Shoe cleaning Applications such as shampoos, deodorizers, and soaps are projected to increase the demand for the product. Consumers are now shifting towards natural applications rather than chemical products owing to the health benefits such as skin protection.

Shoe deodorizer is projected to have significant growth due to rising causes such as odor, bacterial infections. In addition, the growing precaution regarding hyperthyroidism, and diabetes is expected to proliferate the demand for the product in the forecast period.

Regional Insights

In 2018, North America accounted for a 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 for 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 corporate development, infrastructure is expected to surge the market growth especially in the countries such as China, India, and Vietnam.

Shoe Care Market Share Insights

Leading players in the market include Caleres Inc.; S. C. Johnson & Son, Inc.; Salamander; Payless Shoe Source Inc.; Charles Clinkard; Griffin Shoe Care; Implus LLC; Angelus Shoe Polish; Grangers International; and Shinola. The companies in the market are focusing on developing new products as per the fashion style changes.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global shoe care market report based on product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Polish
    • Cleaning
    • Accessories

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Formal
    • Casual
    • Sports
    • Others

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East &Africa (MEA)
        • South Africa