Shoe polish is a chemical product that is used to polish the shoe to give it a shiny new look, maintain, restore, and enhance its appearance. Shoe polish is generally in the form of wax, liquid, or cream. It is also known as boot polish. This product cleans and extends the life of the shoe by applying a shiny and protective layer on the shoes. Shoe polishes are commonly used on leather shoes. There are many shoe care products used to maintain the texture and appearance of the shoes, but shoe polish is the most used product among them all. The foreign elements degrade the quality of leather, affecting the overall quality of the shoes. In this case, shoe polish which is a mix of dyes, naphtha, turpentine, and gum Arabic, prevents leather from absorbing water, allows easy cleaning, covers scuff marks, and gives flexibility to the leather.
Global shoe polish market is expected to increase substantially during the forecast period. Shoes are something that are worn by everyone and used almost every day. Leather shoes are commonly used by school going students and working professionals. Wearing shoes every day leads to wear and tear of the shoe, and thus for the protection of leather shoes, shoe polish is the most demanded commodity. Although shoe polish is demanded both in urban and rural locations, the urban shoe polish market dominates the rural shoe polish market. In rural areas, shoes are required mostly for agricultural activities, and those shoes do not require the care provided by shoe polish. While the rise in demand for shoe polish, in urban areas can be attributed to the large population wearing shoes to offices, and schools.
COVID-19 Scenario Analysis:
- The shoe polish market is expected to witness a massive blow due to the COVID-19 outbreak.
- The expected decline in this market is attributed to the disruption in the supply chain, across significant export markets.
- Due to the stay at home orders, factories are shut, and manufacturing is at a halt. This has hit many firms and workers hard.
- However, the industry may recover soon due to rapid changes in fashion trends and the popularity of e-commerce sales.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The primary factor that drives the growth of the shoe polish market is increased sales of shoes. The rise in need for shoes in the corporate world to maintain a professional look and increase in the number of working women is the reason for the increase in the sales of shoes and further creating the need for shoe polish. Certain types of shoes like pure-leather shoes are expensive and often wear and tear with constant use. All this creates the need for using shoe polish for shoe care. Along with this, rise in awareness of the constantly changing shoe fashion, endorsement of celebrities to target consumers’ results in higher adoption of shoe polish. The penetration of e-commerce is yet another reason, which propels the global shoe polish market. Other reason that boost the growth of the global shoe polish market is the availability of shoe polish in various color, texture, and easy to carry packaging.
Many counterfeit shoe polishes are available in the market and that too at cost-effective prices, manufactured by the local players; this is expected to hamper the growth for the shoe polish market to some extent. In addition, shoe polish is chemically processed and can be harmful if inhaled or touched, thereby retraining the growth of the shoe polish market.
The major challenge that the shoe polish market is facing is that the shoe manufacturers are coming up with smart shoe material that is resistant to oil, dirt, chemical, water, and other elements.
Boost in the disposable income fosters the growth of the shoe polish market. Along with this increased investment in research and development, and growth in the number of innovative ways to market the product will certainly push the growth of the global shoe polish market.
Key Benefits of the Report:
- This study presents the analytical depiction of the global shoe polish industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global shoe polish market share.
- The current market is quantitatively analyzed to highlight the global shoe polish market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global shoe polish market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Shoe Polish Market Research Report:
- What are the leading market players active in the shoe polish market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Shoe Polish Market Report Highlights
By Distribution Channel
By Price Point
Key Market Players
S. C. Johnson And Son, TRG Shoe Cream, Cherry Blossom, Cadillac Shoe Products Inc., Lexol., Tarrago Brands International, Kiwi Brands Limited, Griffin Shoe Care, Shinola, Angelus Shoe Polish, Moneysworth And Best