A recent report published by Infinium Global Research on shoe polish market provides in-depth analysis of segments and sub-segments in the global as well as regional shoe polish market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional shoe polish market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global shoe polish market. According to the report, the global shoe polish market is projected to grow at a CAGR of 2.75% over the forecast period of 2019-2025.
Shoe polish is a material used for polishing, shining, softening and waterproofing the shoes, so that shoes last longer and appear better. Shoe polish is available in paste, cream and liquid form. They are made from wax, mineral oils, collagen, and other chemicals. Bull shine, high gloss shine, and spit shine are popular shoe shine modes. Shoe polish contains certain oils which keep the leather fiber flexible and slows down the oxidation process of leather. Gum Arabic is a viscosity stabilizer utilized for coloring purposes. Shoe polish helps in maintaining the shoe leather in good condition. Shoe paste is a wax based polish that has more wax content and lesser oil content. Liquid shoe polish is more suitable for shoes made from synthetic leather.
Increasing sales of liquid shoe polish and product innovation drive the growth of the shoe polish market. Changing fashion trends and the use of multiple shoes for different occasions increase the sales of shoes worldwide and this is further boosting the demand for shoe polish market. Increasing the use of formal shoes by professionals is another factor responsible for the growth of the shoe polish market. Further, increasing demand for products such as moisturizers and conditioners for shining the non-leather based shoes are enhancing the growth shoe polish market. Increasing demand for liquid spray shoe polish for both leather-based and synthetic materials based shoes are positively supporting the growth for shoe polish market. Besides, the higher price of raw materials and the availability of counterfeit products are major restraints for the global shoe polish market. Moreover, the development of new smart materials for shoes that resist the oil, water, chemicals, dirt and other materials are anticipated to provide a major growth opportunity for the shoe polish market in the near future.
Among the geographies, Asia-Pacific is the largest and the fastest growing region for the shoe polish market followed by Europe and North America. The presence of a huge population, the influence of western lifestyle, an increasing number of professionals and increasing demand for shoes are the major factors that drive the growth of the Asia-Pacific shoe polish market. Besides, Europe and North American markets have a steady demand for shoe polish and it is expected to sustain the growth of those markets. The African region is anticipated to grow significantly during the forecast period, as economic prosperity in many emerging countries is making shoes affordable for many people.
The report on global shoe polish market covers segments such as type, product, and end user. On the basis of type, the sub-markets include cream polish, liquid polish, and wax polish. On the basis of product, the sub-markets include shoe shine oil, shoe leather nourishing cream, and shoe leather softener. On the basis of end user, the sub-markets include commercial, household, and other end users.
The report provides profiles of the companies in the market such as Cherry Blossom, Cadillac Shoe Products, Inc., Griffin Shoe Care, Kiwi Brands Limited, Lexol, Moneysworth & Best, TRG Shoe Cream, Shinola, Tarrago Brands International, Angelus Shoe Polish, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of shoe polish market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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