New market research study by Technavio on the global
shoe care products market projects the market to grow at
a CAGR of over 5% during the period 2019-2023. This research report
provides an in-depth analysis of the market in terms of revenue, top
drivers and emerging market trends. It also includes detailed insights
and forecasts for all the market segments across different geographies.
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Technavio has published a new market research report on the global shoe care products market from 2019-2023. (Graphic: Business Wire)
Rising awareness about foot health and shoe cleanliness
With the rising concern for foot health, hygiene, and odor, the demand
for shoe care products is increasing. These shoe care products not only
maintain the shoes but also offer high foot health and cleanliness.
Currently, there are various shoe care products available in the market
such as shoe deodorizers that offer good foot health, along with shoe
cleanliness. Vendors are also introducing shoe deodorizer powders and
sprays that can be applied on foot. These products nourish consumers’
foot and prevent bacterial and fungal infections, resulting in odor-free
feet and shoes. Thus, the benefits offered by these products increase
their adoption among consumers, thereby driving market growth.
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Increased introduction of shoe care products made of natural
Currently, there is a growing shift toward shoe care products, which are
made up of raw and natural ingredients. These products do not contain
chemicals and can be used every day, as they protect the skin from
harmful side-effects. Several vendors are using natural ingredients such
as natural pigments, water-based charcoal, and textile skin to develop
products that are less harmful to the user and the environment. Thus,
this shift toward natural and medicated ingredients will help open new
avenues for the growth of the global shoe care products market.
According to a senior analyst at Technavio, “With increasing internet
penetration and smartphone use, manufacturers have been able to expand
their distribution networks by partnering with third-party e-retailers.
This has helped to increase streamline their business activities,
increase sales and expand their geographical presence. Thus, consumers’
shift towards the online channel is expected to drive market growth in
the coming years.”
Availability of counterfeit products
The penetration of e-commerce is propelling the sale of counterfeit
products by widening their geographical reach. Customers are also facing
difficulties in distinguishing between genuine and counterfeit products
as they appear similar. Moreover, the majority of counterfeit products
come with me too branding that resembles the name, logo, and trademark
of renowned brands. As counterfeit products are cheaper than their
genuine counterparts, it hampers the sale and pricing strategies leading
to increased inventory backlogs for international vendors. However,
established players are trying to penetrate the market by increasing
brand awareness and quality assurance.
Top players in the global shoe care products market:
- Caleres Inc.
- Grangers International Ltd.
- Implus Footcare LLC
- S. C. Johnson & Son Inc.
- Salzenbrodt GmbH & Co. KG
- The Clinkard Group Ltd.
Some of the key topics covered in the global
shoe care products market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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