Pune, India -- (SBWIRE) -- 02/13/2018 -- The report on Shoe Polish Market by Product Type (cream polish, liquid polish, wax polish), by Application (oil, shoe leather nourishing cream and shoe leather softener), by End user (household, commercial) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Shoe Polish Market is projected to grow at a CAGR between 2% and 3% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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Shoe polish is a material used for polishing, shining, softening and waterproofing the shoes, so that shoes lasts longer and appears better. Shoe polish is available in paste, cream and liquid form. They are made from wax, mineral oils, collagen, and some 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. Tallow, lanolin, mink oil and neat's foot oil among others are major oils in shoe polish. Wax type of shoe polish is made from paraffin, plant based wax or bees wax. Naphtha, turpentine and mineral spirits are the major solvents used in shoe polish for softening the wax for easier application. Gum Arabic is a viscosity stabilizer utilized for coloring purpose. Shoe cream have higher oil content and lesser oil content. It is good for the conditioning of the shoe leather. 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.

Cherry Blossom and KIWI dominate the global shoe polish market with substantial market share. Increasing sales of liquid shoe polish, product innovation, expansions in more regions by companies, characterizes the global shoe polish market.

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Changing fashion trends and use of multiple shoes for different occasions is driving the increase in sales of shoes globally and it is driving the demand for the shoe polish. Increasing use of formal shoes by professionals is driving the growth of the global shoe polish market. Increasing demand for products such as moisturizers and conditioners for shining the non-leather based shoes are enhancing the growth of the global shoe polish market. Increasing demand for liquid spray shoe polish for both leather based and synthetic materials based shoes are driving the global shoe polish market. E-commerce is providing more shoe polish product options for customers, especially imported ones and it is driving the growth of the market. Increasing demand for boot polish is anticipated to enhance the growth of the market during the forecast period 2017-2023.

Higher price of raw materials and presence of counterfeit products are major restraints for the global shoe polish market. The government policies promoting production of shoe polish in Africa by utilizing local wax and raw materials are anticipated to provide growth opportunities for shoe polish manufacturers. As the growth of footwear markets in developed economies are becoming matured, there are opportunities to expand in the emerging economies. The development of new smart materials for shoes that is resistant to oil, water, chemicals, dirt and other materials is anticipated to provide a major challenge to shoe polish companies in near future.

Segments Covered

The report covers the analysis of global as well as regional markets of shoe polish. Moreover, the global shoe polish market is segmented by product type and by application. The global shoe polish market by type covers cream polish, liquid polish and wax polish among others. Based on products, the market is segmented as shoe shine oil, shoe leather nourishing cream and shoe leather softener among others. Based on end user, the market is segmented as household and commercial.

Companies Profiled

The companies covered in the report include manufacturers of global shoe polish market include Angelus, Cherry Blossom, C.A. Zoes Mfg Co, Cadillac Shoe Products Inc, Fiebing, Griffin Shoe Care, Harry Hoffman Company, KIWI, Lexol, Moneysworth & Best, Shinola, Tarrago Brands International, and TRG Shoe Cream.