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The market trends and analysis report provides a thorough overview of key growth factors. A notable driver is the increasing awareness of foot health and shoe cleanliness, influencing consumer preferences. Additionally, there is a significant uptick in digital marketing and social media campaigns aimed at enhancing consumer engagement and brand visibility. However, these advancements face challenges such as fluctuating raw material prices, impacting production costs and pricing strategies. Despite these obstacles, the market is poised for growth, driven by evolving consumer preferences and innovative marketing strategies.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Angelus Shoe Polish - The company offers shoe care products under the brand name Angelus such as Angelus shoe wax polish, Angelus roll call military grade shoe wax polish, leather balm, Angelus brushes and others.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including C P Marketing Inc., C.A. Zoes Mfg Co., Caleres Inc., Fiebing Co. Inc., Grangers International Ltd., Implus Footcare LLC, Lincoln Shoe Polish, Moneysworth and Best Quality Shoe Care, OTTER WAX LLC, Payless Shoe Source Inc., Rocket Pure Care LLC, S.C. Johnson and Son Inc., Salzenbrodt GmbH and Co. KG, Shinola, TARRAGO BRANDS INTERNATIONAL, S.L., The Clinkard Group Ltd., TRG BESTNETS SL, Woodland Worldwide, and M. V. Shoe Care Pvt. Ltd.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market witnesses expert analysis, examining import/export dynamics, and production-consumption patterns. Consumer behavior trends reflect an increasing awareness of foot health and footwear maintenance, driven by a fashion-conscious populace. Quantitative units, such as Angelus Shoe Polish, indicate a growing market. Challenges include limited product innovation, while opportunities emerge from expanding online retail channels and rising demand for premium and luxury shoes. Notable developments include the emergence of the sneaker community and innovative portable devices, with a product range covering brushes, shoe polish, protectors, and sprays, contributing to market growth. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Rising awareness about foot health and shoe cleanliness is notably driving market growth. Shoe care products play a dual role by not only maintaining footwear but also contributing to high foot health and cleanliness. Among the diverse range of available products, footwear deodorizers stand out, promoting good foot health alongside cleanliness. Specifically designed to combat foul footwear odors, these products address potential foot health issues arising from poor hygiene, damp footwear, and physical activities that lead to excessive sweating. Activities resulting in moisture can foster bacteria and fungi growth, causing unpleasant odors and contributing to various foot ailments.
Moreover, companies like Rocket Pure offer innovative solutions such as shoe deodorizer powders and sprays, nurturing foot health and preventing infections, ultimately leading to odor-free feet and shoes. With growing awareness of foot health and hygiene concerns, the demand is on the rise, driving the market's growth during the forecast period.
Rising digital marketing and social media campaigns for consumer engagement are emerging trends shaping market growth. The major focus in these promotional and marketing activities stays on the reinforcement of brand relevance, consumer engagement, guiding consumers to stores or shopping websites, and increasing brand awareness. Companies use different methods and platforms to increase their brand equity and visibility. The different platforms used by vendors for brand promotions include in-store events, direct marketing (such as brochures, e-mail, catalogs, and print advertising), and Internet marketing.
Also, they use social media such as Twitter, Facebook, Pinterest, YouTube, and Google+. Apart from this marketing campaign by KIWI, a brand of S. C. Johnson and Son, used social media and traditional media outreach and consumer promotions that feature dancing with the star celebrity, Cheryl Burke. This helped the brand secure hundreds of blog placements at its actively managed KIWI-branded Twitter and Facebook pages and registered more than 23 million impressions in traditional broadcast and print media placements. These factors will drive the growth of the market during the forecast period.
Fluctuating raw material prices is a significant challenge hindering market growth. The raw materials used in manufacturing products, such as shoe polish, are waxes and solvents. The waxes comprise 20%-40% of the total composition, while the solvents comprise almost 70% of the composition. The most common solvents used are naphtha and turpentine. The dye comprises 2%-3% of the total polish. The traditional dye used is nigrosine. Raw materials such as naphtha and nigrosine are petroleum derivatives and are stated to have highly volatile prices due to their high dependence on crude oil prices and natural forest products.
The instability and fluctuation in the price of petroleum-based raw materials and the increasing demand are posing a major challenge to the growth of the market. The fluctuations in raw material prices cause uncertainty in the market, adversely affect the production costs, and hamper the profit margins of vendors. Hence, the volatility in crude oil prices with subsequent volatility in raw materials will negatively impact the growth of the market during the forecast period.
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The market is influenced by various factors including consumer behavior, awareness regarding footwear maintenance, and fashion consciousness. Consumers exhibit a growing interest in quantitative units of shoe ownership and seek expert analysis on shoe care. The market offers a range of products like Angelus Shoe Polish, brushes, polishes, protectors, and sprays, catering to footwear enthusiasts and the sneaker community. However, restraints such as the easy availability of alternatives and limited consumer interest pose challenges. Opportunities lie in the expansion of online retail channels and the rising demand for premium and luxury shoes, driving growth in the shoe care market. Despite challenges like limited product innovation, recent developments indicate a promising future for shoe care products with a focus on flavor components, aromatic substances, and portable devices for convenient shoe maintenance.
The market share growth by the offline segment will be significant during the forecast period. The revenue of the offline distribution channel is generated from the sales of products through speciality stores (including exclusive band stores, multi-brand stores and personal care product stores); hypermarkets, supermarkets, and clubhouse stores; and department stores. The revenue of the offline distribution channel has been declining gradually over the years because of the high preference for online shopping. The offline segment was the largest and was valued at USD 358.69 million in 2018. Speciality stores, including exclusive brand stores and multi-brand outlets, offer a diverse range of products, contributing to marketing, brand building, and IT support. Notable speciality stores in the US, like Allen Edmonds and Naturalizer, contribute to the availability and promotion. Hypermarkets, supermarkets, and department stores like Walmart, Sears, Target, and Macy's serve as convenient one-stop solutions, further driving the demand through offline channels. The growth of retail channels in various regions is set to increase customer familiarity with different footwear care products, boosting the overall market during the forecast period.
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Based on the product, the market has been segmented into brushes and buffing clothes, polishing creams, waxes and liquids and others. The brushes and buffing?segment will account for the largest share of this segment.?
North America is estimated to contribute 37% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market in North America contributed to the highest share of the market. The key markets in North America are the US and Mexico. Factors such as the high adoption of such products and the rigid concentration of market players are the leading factors contributing to the exponential growth of the market in the US. The existing players compete based on product innovations, new product development, and distribution channels. The country is expected to witness the entrance of more players, which will further intensify the competition. Further, manufacturers in the US compete primarily based on brand recognition, comfort, price, and quality. Brand recognition is important to consumers purchasing products.
Consequently, the market is relatively concentrated, as brand recognition serves as a barrier to competition. Though S. C. Johnson and Son is a leading brand in the market, it took several years for the brand to become well-recognized in the market in North America. In contrast, the non-athletic footwear care product segment of the market is highly fragmented, with multiple vendors offering different products, such as polish and footwear wax, especially for leather boots. Thus, the regional market is expected to witness growth during the forecast period.
The market experiences dynamic trends driven by increasing shoe ownership, bolstered by rising disposable incomes and a fashion-conscious consumer base. As awareness regarding footwear maintenance grows, consumers seek products ensuring appearance and durability. Despite easy alternatives and limited consumer interest in grooming routines, the expansion of online retail channels, particularly through e-commerce, addresses a global customer base with increased purchasing power, emphasizing fashionable footwear. The market witnesses noteworthy developments like Philips' Sneaker Cleaner GCA1000/60, catering to sneaker enthusiasts and the flourishing sneaker culture. This affordable solution exemplifies the market's commitment to offering efficient shoe care products in the shoe care market, reflecting the industry's dynamic landscape.
Additionally, the market, influenced by a rising population and fashion-conscious consumers, witnesses a surge in awareness regarding footwear maintenance. As consumers increasingly invest in footwear, the market dynamics reveal the logistic industry's impact on import/export and production-consumption analysis. However, restraints like the easy availability of alternatives and the prevalence of inexpensive, disposable shoes pose challenges. In response, the market showcases innovation, exemplified by recent developments such as affordable solutions like the Sneaker Cleaner. These trends shape consumer behaviour, emphasizing the importance of maintaining footwear aesthetics and durability, ultimately contributing to the market's dynamic landscape.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.27% |
Market growth 2024-2028 |
USD 239.32 million |
Market structure |
Fragmented |
YoY growth (%) |
6.91 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Angelus Shoe Polish, C P Marketing Inc., C.A. Zoes Mfg Co., Caleres Inc., Fiebing Co. Inc., Grangers International Ltd., Implus Footcare LLC, Lincoln Shoe Polish, Moneysworth and Best Quality Shoe Care, OTTER WAX LLC, Payless Shoe Source Inc., Rocket Pure Care LLC, S.C. Johnson and Son Inc., Salzenbrodt GmbH and Co. KG, Shinola, TARRAGO BRANDS INTERNATIONIAL, S.L., The Clinkard Group Ltd., TRG BESTNETS SL, Woodland Worldwide, and M. V. Shoe Care Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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