Shoe
care includes the products such as cream, polish, spray, brushes etc
which are used to maintain footwear. Shoe care products are used for
various applications such as formal shoes, casual shoes, sports shoes
and others. Additionally, shoe care products comes in many types
include shoe care, shoe clean and shoe care accessories which keep
shoes new looking as well as shiny.
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Market
Value and Forecast
The
global shoe care market is expected to grow at a CAGR of 4.2% during
the forecast period, and is expected to be valued at US$ 6,097 Mn by
2025, from US$ 4,389 Mn in 2017 owing to the factors such as
increasing demand of formal shoes among working women and increasing
internet retailing.
Market
Dynamics
The
key driving factors of global shoe care market are increasing
internet retailing along with growing demand of sports footwear due
to growing health concerns among consumers globally. Increasing
technological advancement in shoes and increasing preference of
casual shoes are the major factor which drives the shoe care market,
owing to growing fashion awareness among consumers across the globe.
Other key factors which drive the global shoe care market are
significantly increasing Innovation/R&D pace and growing
significant importance of orthopedic shoes, owing to surge in the
demand for shoes care products for medical shoes. The key trends such
as high focus on marketing strategies by key manufacturers,
innovation in shoe products along with growing demand of leather
shoes among consumers. The key restraining factors of global shoe
care market are rapidly changing consumer’s preferences, increasing
use of low scale shoes which may hinder the market to grow over the
forecasted period. Additionally, other factors which restricts the
global shoe care market to grow are high cost on shoe care products
along with government regulations related to export and import of
shoe care products across the globe.
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Market
Segmentation by Product Type
The
market is segmented based on product type, sales channel type and
region type. Based on product type, the market is sub-segmented into
shoe care, shoe clean and shoe care accessories. Among all the
product type, shoe care segment is expected to account for the
highest market share, followed by shoe clean over the forecast
period. Shoe care segment is expected to grow with a CAGR of 4.3%
during the forecast period in terms of value. Shoe care accessories
is estimated to register a CAGR of 3.7% in the global shoe care
market over the forecast period. The factors fuelling demand for
global shoe care market are incessantly growing footwear market and
increasing demand for advance comfort across the globe due to growing
innovation in shoes along with rapidly changing the demand pattern
among consumers.
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Market
Segmentation by Sales Channel
Another
segmentation of the global shoe care market is done on the basis of
sales channel type such as exclusive, hypermarket and online. Among
all the mentioned sales channel type, online segment is estimated to
account highest market share in the global shoe care market followed
by exclusive segment by end of 2025.
Key
Regions
In
this report, the global shoe care market has been segmented into five
major regions, namely North America, Latin America, Europe, Asia
Pacific (APAC) and the Middle East & Africa (MEA). North America
is expected to be the most favourable region in terms of absolute
opportunities lying ahead for high revenue generation. North America
is estimated to maintain its dominance in the global Shoe care market
with 36.5% market value share in 2017, followed by Europe.
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