Shoe Care Products Market to grow at a rate of 4.6% from 2020 to 2024: Key Players are Cadillac Shoe Products Inc, Penguin Brands, Salzenbrodt GmbH, Tarrago Brands International

Global shoe care products market is projected to register a growth rate of 4.6% from 2019 to 2024 and reach a market value of USD 6.13 Billion by the end of 2024. Shoe care products are widely used to maintain the quality of the footwear. Shoe care products not only maintain the aesthetic appeal of the products but items such as shoe cleaner and shoe refresher are used to maintain shoe hygiene. Shoe brushes, shoe creams, waxes, liquids, shoe colors and dyes, and protection sprays are some of the major products in shoe care products market.

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Increase in demand for formal shoes by working professionals all over the globe and rise in demand for leather shoes are the factors which are boosting the growth of shoe care products market. Moreover, the increasing demand for shoe cleaning products by athletes is another factor anticipated to support the growth of the global market. However, high costs of shoe care products is expected to hamper the growth of the global shoe care products market during the forecast period.

Segmentation

The global shoe care products market has been segmented based on type, distribution channel, and region.

Based on type, the global shoe care products market has been segmented into brushes and buffing cloths, polishing creams, waxes and liquids, colors and dyes, protection sprays, and others. The polishing creams, waxes and liquids segment is expected to dominate the global shoe care products market and register the highest CAGR during forecast period due to the primary necessity of polishing the shoe. The availability of polishing materials in different forms are convenient for the consumers.

On the basis of distribution channel, the global shoe care products market has been classified as supermarkets and hypermarkets, specialty stores, and others. The supermarkets and hypermarkets segment is expected to account for the largest market share during the forecast period due to strong vendor networks, availability of different products, and discounts offered. The non-store-based segment is expected to register the higher CAGR during the assessment period owing to technological advancements in the e-commerce industry and growing consumer preference for online purchase.

Key Players

Some of the key players in the global shoe care products market are Cadillac Shoe Products Inc (US), Penguin Brands Inc. (US), Salzenbrodt GmbH & Co. KG (Germany), C.P. Marketing Inc. (India), Tarrago Brands International (Spain) , Angelus Direct (US), Granger's International Limited (UK),U.S. Continental Marketing Inc. (US), Charles Clinkard (UK), Griffin Shoe Care (US), S.C. Johnson & Son (US), Energizer Brands, LLC (US), Harry Hoffman Company (US), Allen Edmonds Corporation (US), and C.A. Zoes Mfg Co (US).

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Latest Industry Updates

June 2016: Tarrago Brands International launched a full line called The Tarrago Sneakers, a complete range of products in the market designed to cater to sneakers. It includes Sneakers Cleaner, Sneakers Rescue, Sneakers Odor Killer, Sneakers Protect, Sneakers Expander, Sneakers Sole Restorer, Sneakers Gloss Maker, and Sneakers Matt Maker.
Regional Analysis

The global shoe care products market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.

The European shoe care products market is expected to dominate during the forecast period due to opulent lifestyles, increase in trend of footwear fashion, and high spending power of the customers in the region.

The shoe care products market in Asia-Pacific is projected to register the highest growth rate from 2019 to 2024. Increasing population and changing lifestyles are leading to increase in sales of shoes in the region which is expected to propel the growth of the market and assist in making the shoe care products industry attractive for the target audience. Moreover, increasing per capita disposable incomes and demand of consumers for a variety of footwear are anticipated to drive the market growth in this region.

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