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Shoe Care Global Market Analysis, Trends, Growth, Research And Forecast 2033
Shoe Care Global Market
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According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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.
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Major Key Players of the Market:
Wolverine World Wide Inc., Birkenstock Orthopädie 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.
Shoe Care Market 2024 Key Insights:
• 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%.
• Impact Of Footwear Demand On Shoe Care Market
• Innovative Biodegradable Shoe Care Products
• North America was the largest region in the shoe care market in 2023
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