Global Shoe Care Products Market 2019-2023 | Use of Natural Ingredients to Boost Growth | Technavio

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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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 ingredients

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 Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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