PUBLISHER: The Business Research Company | PRODUCT CODE: 1572610
PUBLISHER: The Business Research Company | PRODUCT CODE: 1572610
Shoe care encompasses the activities and methods used to upkeep and protect footwear, aiming to prolong its durability and enhance its look. This process includes various steps and products intended for cleaning, maintaining, safeguarding, and preserving shoes to ensure they last longer, retain their visual appeal, and stay comfortable and functional.
Key shoe care products include polish, cleaning solutions, and various accessories. Shoe polish is specifically formulated to improve the look and extend the durability of shoes. It can be purchased through both online and physical stores, suitable for different types of shoes, including formal, casual, and athletic varieties.
The shoe care market research report is one of a series of new reports from The Business Research Company that provides shoe care market statistics, including shoe care industry global market size, regional shares, competitors with a shoe care market share, detailed shoe care market segments, market trends and opportunities, and any further data you may need to thrive in the shoe care industry. This shoe care market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 expansion during the historic period can be linked to several factors, including higher disposable income, increased awareness of shoe maintenance benefits, the growth of e-commerce, heightened environmental consciousness, and rising 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 anticipated growth in the forecast period is driven by a rising consumer preference for eco-friendly products, a growing emphasis on premium items, a trend towards upscale clothing, population growth, and an increasing number of female professionals. Key trends expected in this period include product innovations, advancements in technology, progress in 3D printing, development of high-performance products, and a focus on customization and personalization.
The increasing demand for footwear is expected to drive growth in the shoe care market moving forward. Footwear encompasses various items worn on the feet, such as shoes, boots, sandals, and slippers, designed for protection, comfort, and style. This demand is rising due to factors including population growth, urbanization, heightened fashion consciousness, and the convenience of e-commerce. Proper shoe care is essential to preserve the appearance, durability, and comfort of footwear over time, thereby extending its lifespan and maintaining optimal condition for prolonged use. For instance, in 2023, according to the Footwear Distributors and Retailers of America (FDRA), the average U.S. consumer imported 5.9 pairs of shoes annually, contributing to annual sales surpassing $112.7 billion. Therefore, the increasing demand for footwear is a primary driver for the expansion of the shoe care market.
Leading companies in the shoe care market are focusing on innovation, particularly in developing environmentally friendly solutions such as biodegradable shoe care polish, to better meet consumer preferences for sustainable products. Biodegradable shoe polish utilizes advanced materials and technologies designed to enhance environmental sustainability, performance, and efficiency. For example, OrganoClick, a Sweden-based Greentech company, launched OrganoTex in April 2021, a series of biodegradable shoe care products. This product line includes a universal spray for shoes and boots made from various materials, along with a 100% biobased and biodegradable water-repellent and caring leather wax. Inspired by the lotus plant's water-repellent properties, these products employ patented green technology to offer sustainable alternatives to traditional shoe care products.
In June 2021, Yellow Wood Partners LLC, a U.S.-based investment firm, acquired Scholl's Wellness Company LLC to strengthen its position in the global footcare market. Through this acquisition, Yellow Wood Partners aims to leverage its operational expertise and reunite the Scholl and Dr. Scholl's brands to create a leading global footcare brand. Scholl's Wellness Company LLC, based in the U.S., specializes in manufacturing footwear and orthopedic foot care products, aligning with Yellow Wood Partners' strategic goals for growth, profitability, and geographic expansion in the footcare sector.
Major companies operating in the shoe care market are Wolverine World Wide Inc., Birkenstock Orthopadie GmbH & Co. KG, Timberland LLC, Red Wing Shoe Company Inc., R.M. Williams Pty Ltd., Allen Edmonds Shoe Corporation, Hunter Boot Limited, Charles Clinkard Ltd., Granger's International Limited, Collonil GmbH, Nikwax Ltd., Meindl GmbH & Co. KG, Rochester Shoe Tree Company, Crep Protect Ltd., Tarrago Brands International SL, Lincoln Shoe Polish Co., Angelus Shoe Polish Co., Griffin Shoe Care Ltd., Pedag USA Inc., Reshoevn8r LLC, Sof Sole, Jason Markk LLC, ECCO Sko A/S, Kiwi Shoe Care, URAD Leather Care Inc.
North America was the largest region in the shoe care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shoe care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the shoe care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The shoe care market consists of revenues earned by entities by providing services such as cleaning, polishing, conditioning, waterproofing, customizing, and repairing. The market value includes the value of related goods sold by the service provider or included within the service offering. The shoe care market also includes sales of cleaners, conditioners, protectants, shoe glue, and odor control products. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Shoe Care Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on shoe care market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for shoe care ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The shoe care market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.