Shoe Care Market Growth Projections, Overview And Report Analysis - 2024

The Shoe Care Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Shoe Care Global Market Report 2024, The shoe care market size has grown steadily in recent years. It will grow from $4.36 billion in 2023 to $4.57 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%.  The growth in the historic period can be attributed to increased disposable income, growing awareness about the benefits of maintaining shoes, the rise of e-commerce, growing environmental awareness, and the and the rise in disposable income.

The shoe care market size is expected to see strong growth in the next few years. It will grow to $5.60 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the forecast period can be attributed to growing consumer demand for environmentally friendly products, increased focus on premium products, rising prevalence of wearing upscale clothing, an increase in population, and an increasing number of female professionals. Major trends in the forecast period include product innovations, technological advancements, innovations in 3D printing, the development of high-performance products, and customization and personalization.

The increasing demand for footwear is expected to propel the growth of the shoe care market going forward. Footwear refers to items worn on the feet, such as shoes, boots, sandals, and slippers, designed to provide protection, comfort, and style. The demand for footwear is rising due to the growing population and urbanization, increasing fashion consciousness, and the convenience of e-commerce. Shoe care is essential for footwear to maintain its appearance, durability, and comfort over time, extending its lifespan and ensuring it remains in optimal condition for longer periods of use. For instance, according to the Footwear Distributors and Retailers of America (FDRA), a US-based trade association dedicated to the footwear industry, in 2023, the U.S. imported an average of 5.9 pairs of shoes per person, with annual sales exceeding $112.7 billion. Therefore, the increasing demand for footwear is driving the growth of the shoe care market.

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The shoe care market covered in this report is segmented –
1) By Product: Polish, Cleaning, Accessories
2) By Distribution Channel: Online, Offline
3) By Application: Formal, Casual, Sports, Other Applications

Major companies operating in the shoe care market are focusing on developing innovative solutions, such as biodegradable shoe care polish, to serve customers with environmentally friendly options better. Biodegradable shoe polish refers to advanced polishes designed with innovative materials and technologies to enhance environmental sustainability, performance, and efficiency. For instance, in April 2021, OrganoClick, a Sweden-based Greentech company, launched OrganoTex, a new series of biodegradable shoe care products, to expand their eco-friendly materials technology into the shoe care market, providing consumers with sustainable alternatives to traditional shoe care products. The product line includes a universal spray for shoes and boots made of various materials and a 100% biobased and biodegradable water-repellent and caring leather wax. It utilizes a patented green technology inspired by the water-repellent properties of the lotus plant.

The shoe care market report table of contents includes:

1. Executive Summary
2. Shoe Care Market Characteristics
3. Shoe Care Market Trends And Strategies
4. Shoe Care Market - Macro Economic Scenario
5. Global Shoe Care Market Size and Growth

...

32. Global Shoe Care Market Competitive Benchmarking
33. Global Shoe Care Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Shoe Care Market
35. Shoe Care Market Future Outlook and Potential Analysis
36. Appendix

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