The global Shoe Care Market size is expected to reach USD 6.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast period. Growing popularity of premium footwear products including Oxford shoes and Blücher among working class professionals on a global level is expected to expand the scope of various types of polishes and cleaners. Furthermore, increasing number of educational institutes and corporate organizations in the developing nations including China and India is expected to expand the scope of formal footwear. This, in turn, will prompt the scope of shoe care products.
Shoe
cleaning products including soaps and deodorizers are expected to account for
29.5% share of global revenue in 2025. For instance, shoe deodorizers have
gained significant popularity among consumers. In September 2018, Panasonic
Corporation launched MS-DS100 deodorizer. The product has the original ion
particles, “nanoe X” that removes unpleasant odors from footwear and spreads
through its six outlets. This deodorizer can also be operated on a mobile
battery. Japan based Panasonic Corporation planned to produce 1,000 units of
these deodorizers per month.
Expanding
corporate and education sectors in developing economies including China and India
is anticipated to open new avenues for the market. In addition, increasing
awareness regarding health and fitness is fueling the sales of sports footwear
in this region. As a result, demand for sneaker care products has increased
significantly.
Furthermore,
increasing number of women professionals in developing countries including
India and Thailand is expected to promote the demand for the product in these
economies. Leading brands including Kiwi have expanded their product portfolio
in order to cater to the demand of women over the last few years. Key
competitors of this industry include Caleres Inc.; S. C. Johnson & Son,
Inc.; Grangers International; Payless; Implus LLC; Shinola; Charles Clinkard;
Salamander; and Griffin.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/shoe-care-market
Further key findings from the study suggest:
- North
America is expected to generate a revenue of USD 2.0 billion by the end of
2025
- Asia Pacific
generated a revenue of more than USD 990.0 million in 2018
- Online
distribution channel for shoe care market is expected to register the
fastest CAGR of 5.9% from 2019 to 2025
- By product,
the polish segment dominated the market in 2018, accounting for more than
60.0% share of the global revenue
- In terms of
application, the formal segment held the largest share of 53.1% in 2018.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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