Transparency Market Research has published a new report "U.S. Shoe Deodorizer Market - The Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013-2019" to its report store.
Albany, NY -- (SBWIRE) -- 07/10/2015 -- U.S. Shoe Deodorizer Market - The Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020", a regional market research report published by Transparency Market Research, states that the U.S.shoe deodorizer market will grow at a modest growth rate in the U.S. over the next few years. The market, which had a net worth of US$207 million in 2013, is anticipated to grow at a CAGR of 6.2% between 2014 and 2020 and reach US$319.9 million.
The U.S. represents the largest market for shoe deodorizers in North America, majorly owing to the large pool of people suffering from hyperthyroidism and diabetes in the country - conditions that lead to excessive perspiration. The American Diabetes Association states that 8.3% population of the country had diabetes in 2013. In the same year, there were nearly 20 million people suffering from hyperthyroidism in the U.S., according to the American Thyroid Association (ATA). People suffering from these medical conditions are the prime target group of the U.S. shoe deodorizer market.
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The report states that the shoe deodorizer market in the U.S. will witness a shift in consumer preference from synthetic chemical-based deodorizer products to natural products. Increased level of health concern in the U.S. is expected to help the shoe deodorizer market gain a good thrust in the coming years.Of the various product types studied in the report, the product segment of shoe deodorizer sprays held the largest share of the overall market in 2013, followed by the revenue generated by insoles; the trend is anticipated to continue over the forecast period as well. However, the market for shoe deodorizer insoles is anticipated to rise at a higher CAGR than shoe deodorizer sprays. Immense growth prospects presented by the sprays segment are expected to lead to innovations in the near future.
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The market for shoe deodorizers in the U.S. is highly concentrated currently, with nearly 50% of the market acquired by the top three vendors. However, the huge scope for innovation, easy entry, and low cost of exit from the market present significant growth opportunities for new entrants in the market. Thus, many new players are expected to enter the U.S. market for shoe deodorizers over the forecast period.
The report presents a snapshot of the competitive landscape of the market and comprises thorough financial profiles of some of the key vendors in the market. Companies in the U.S. shoe deodorizer market profiled in the report include Chattem, Inc., Reckitt Benckiser Group Plc., Blistex Incorporated, and S.C. Johnson & Son, Inc.The market earns a major portion of its revenue from distribution channels such as convenience stores, drug stores, and large retailers. However, the rising prominence of e-retailers such as Ebay and Amazon is expected to change the dynamics of the distribution chain of the U.S. shoe deodorizer market over the forecast period.
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