New York, NY -- (SBWIRE) -- 09/14/2018 -- In this report, Persistence Market Research (PMR) delivers key insights on the global shoe care market in its published report, titled "Shoe Care Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)." In terms of revenue, the global shoe care market is estimated to expand at a CAGR of 4.2% over the forecast period and is expected to be valued at US$ 6,097 Mn by 2025, from US$ 4,389 Mn in 2017, owing to numerous factors, about which PMR offers thorough insights and forecasts in this report.
Segmentation & Forecast
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The market is segmented based on product type, sales channel type and region type. Based on product type, the market is sub-segmented into shoe care, shoe clean and shoe care accessories. Among all the product type, shoe care segment is expected to account for the highest market share, followed by shoe clean over the forecast period. Insole segment is expected to grow with a CAGR of 4.3% during the forecast period in terms of value. Accessories is estimated to register a CAGR of 3.7% in the global shoe care market over the forecast period. The factors fuelling demand for global shoe care market are incessantly growing footwear market and increasing demand for advance comfort across the globe due to growing innovation in shoes along with rapidly changing the demand pattern among consumers. Another segmentation of the global shoe care market is done on the basis of sales channel type such as exclusive, hypermarket and online. Among all the mentioned sales channel type, online segment is estimated to account highest market share in the global shoe care market followed by exclusive segment by end of 2025.
The key driving factors of global shoe care market are increasing internet retailing along with growing demand of sports footwear due to growing health concerns among consumers globally. Increasing technological advancement in shoes and increasing preference of casual shoes are the major factor which drives the shoe care market, owing to growing fashion awareness among consumers across the globe. Other key factors which drive the global shoe care market are significantly increasing Innovation/R&D pace and growing significant importance of orthopedic shoes, owing to surge in the demand for shoes care products for medical shoes. The key trends such as high focus on marketing strategies by key manufacturers, innovation in shoe products along with growing demand of leather shoes among consumers. The key restraining factors of global shoe care market are rapidly changing consumer's preferences, increasing use of low scale shoes which may hinder the market to grow over the forecasted period. Additionally, other factors which restricts the global shoe care market to grow are high cost on shoe care products along with government regulations related to export and import of shoe care products across the globe.
This report assesses trends driving growth of each segment on the global level and offers potential takeaways that could prove substantially useful to shoe care manufacturers looking to enter the market. The North America market has been estimated to dominate the shoe care market, accounting for maximum revenue share of the market by 2017 end. Collectively, Europe and North America shoe care markets are expected to account for over 63.9% revenue share of the global Shoe Care market by 2025 end. Among the emerging markets, APAC is estimated to exhibit a significant CAGR of 5.1% over the forecast period, followed by Latin America market with a CAGR of 4.6%, due to the growing population, disposable income along with high adoption of fancy and trendy shoes among consumers.
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Some of the prominent manufacturers in the global shoe care market include S.C. Johnson & Son, Inc, Payless Holdings, Allen Edmonds Corporation, Shinola LLC, Penguin Brands Inc., Charles Clinkard group Salzenbrodt GmbH & Co. KG, Salamander Gmbh, U.S. Continental Marketing Inc. In this report, we have discussed individual strategies followed by these companies in terms of enhancing their product portfolio, creating new marketing techniques, mergers and acquisitions. The 'Competitive Landscape' is included to provide report audiences with a dashboard view and company share collectively.