Transparency Market Research (TMR) has released a new report on the U.S. shoe deodorizer market, titled “U.S. Shoe Deodorizer Market – The Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019”. The report includes extensive historical data about the U.S. shoe deodorizer market.
Using primary and secondary research sources and employing reliable analytical tools such as SWOT analysis and Porter’s five forces analysis, the report presents accurate projections for the U.S shoe deodorizer market for the forecast period.According to the report, the U.S. shoe deodorizer market will display a modest 6.2% CAGR from 2014 to 2020. If the figures hold true, the market, which was worth US$207 million in 2013, will have a valuation of US$319.9 million by 2020.
In North America, the U.S represents the largest market for shoe deodorizers, due to a large pool of individuals suffering from diabetes and hyperthyroidism – conditions that cause excessive perspiration. According to the American Diabetes Association, almost 8.3% of the population in America had diabetes in 2013. In the same year, according to the American Thyroid Association, almost 20 million people suffered from hyperthyroidism.
People suffering from these conditions form the major target group of the U.S. shoe deodorizer market.Additionally, athlete foot is one of the major feet conditions among individuals in the U.S. Owing to the need to inhibit the growth of microorganisms and to subside foot odor, the shoe deodorizer market will exhibit steady growth in the next few years.
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The report states there is an increasing shift from synthetic deodorizers to natural products in the U.S shoe deodorizer market. This is mainly due to rising health concerns, which is leading consumers to opt for natural products.By product type, the shoe deodorizer sprays segment held the largest market share in 2013 and was followed by the insoles product segment.
Although immense growth potential of the sprays product segment will lead to innovative products, the insoles shoe deodorizer product segment will register a higher growth rate in the forecast period.The U.S shoe deodorizer market is highly concentrated, with the top three vendors accounting for almost 50% of the market. However, immense scope for innovative products and easy market participation and exit present opportunities for new entrants in the market. Hence, several new players will emerge in the U.S. shoe deodorizer market during the forecast period.
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The report includes an analysis of the competitive landscape of the market, with thorough financial profiles of the major vendors in the market. Reckitt Benckiser, S.C. Johnson, and Blistex Incorporated are the players in the shoe deodorizer market in the U.S. profiled in the report.
As per analysts’ findings, a variety of distribution channels such as drug stores, convenience stores, and large retailers contribute for significant chunks of revenue in the U.S shoe deodorizer market. However, changing consumer shopping practices and growing prominence of online retail will change the distribution scenario of the U.S shoe deodorizer market in the years to come.