The global shoe repair market (Margadh Deisiúchán Bróg) is projected to attain a valuation of US$ 1.3 billion by 2023 and is forecasted to expand at a compound annual growth rate (CAGR) of 2.4% over the subsequent decade, reaching a value of US$ 1.7 billion by 2033. During this period, the children’s shoe repair segment is anticipated to experience the most rapid growth.
The market has an inverse relationship with global economic growth. As the economy tends to grow and perform well, it means people have a job and they are earning well. They will spend more on their well-being. In such a scenario, it is expected that people will buy a new pair of shoes rather than getting and old pair repaired. On the other hand, rising inflation and economic slowdown force people to save money and opt for shoe repair services.
Market Growth
While the retail industry undergoes significant shifts, the Shoe Repair market demonstrates a unique resilience and growth potential. This section explores the various factors contributing to the growth of the Shoe Repair market, including the rising awareness of sustainable consumption, the popularity of vintage and customized footwear, and the economic advantages of repairing over replacing. By dissecting the elements fueling growth, readers gain a comprehensive understanding of the market dynamics propelling the Shoe Repair industry forward.
List of Key Companies Profiled in The Report
Competitive Landscape
The competitive landscape of the shoe repair industry remains largely decentralized, characterized by numerous individuals and small-scale enterprises. Noteworthy business transactions have been scarce in recent years, with only a few investments coming from private equity investors. Timpson, a prominent shoe repair service provider, is strategically expanding its presence by planning the opening of its third store, located at Tesco Ryde. Despite the predominantly unorganized nature of the sector, individual players and occasional investments contribute to the dynamics of the competitive landscape.
Segmentation of Shoe Repair Industry Research
The Shoe Repair market stands as a testament to the enduring demand for quality craftsmanship and sustainable consumer choices. Through a comprehensive overview, insights into market dynamics, a forward-looking outlook, an exploration of growth drivers, an analysis of opportunities, and an understanding of recent industry news and notable developments, stakeholders can navigate the evolving landscape of the Shoe Repair market with clarity and strategic foresight.
The market has an inverse relationship with global economic growth. As the economy tends to grow and perform well, it means people have a job and they are earning well. They will spend more on their well-being. In such a scenario, it is expected that people will buy a new pair of shoes rather than getting and old pair repaired. On the other hand, rising inflation and economic slowdown force people to save money and opt for shoe repair services.
Market Growth
While the retail industry undergoes significant shifts, the Shoe Repair market demonstrates a unique resilience and growth potential. This section explores the various factors contributing to the growth of the Shoe Repair market, including the rising awareness of sustainable consumption, the popularity of vintage and customized footwear, and the economic advantages of repairing over replacing. By dissecting the elements fueling growth, readers gain a comprehensive understanding of the market dynamics propelling the Shoe Repair industry forward.
Key Takeaways from Market Study
- The global shoe repair market is expected to progress at a CAGR of 2.4% over the next 10 years.
- The Indian shoe repair market is expected to grow at the highest CAGR of 4.5% among other major economies of the world.
- Sole repair as a service holds 31% market share.
- Among men, women, and children, men contribute the most to the overall revenue of the global market.
- North America accounts for 34% share of the global market value.
List of Key Companies Profiled in The Report
- NuShoe, Inc.
- Pasquale Shoe Restoration
- ShoeVival Shoelaundry Pvt. Ltd
- USA Shoe Company
- LEATHER SPA
- Cesar's Shoe Repair
- Alex's Shoe Repair
- Shine Shoe Repair Shop
- Others
Market Development
The shoe repair market is unorganized as most market players are individual-run businesses. A handful of businesses are multi-location, that to only limited to the same country. The industry has not witnessed any notable mergers and acquisitions; however, it saw some partnerships happening between shoemakers and cobblers.
The shoe repair market is unorganized as most market players are individual-run businesses. A handful of businesses are multi-location, that to only limited to the same country. The industry has not witnessed any notable mergers and acquisitions; however, it saw some partnerships happening between shoemakers and cobblers.
- In November 2022, Cobblers Direct, a market leader in shoe repair services space, partnered with Designer Brands Inc. to offer quality shoe repair services at its 500 stores located across the U.S.
Competitive Landscape
The competitive landscape of the shoe repair industry remains largely decentralized, characterized by numerous individuals and small-scale enterprises. Noteworthy business transactions have been scarce in recent years, with only a few investments coming from private equity investors. Timpson, a prominent shoe repair service provider, is strategically expanding its presence by planning the opening of its third store, located at Tesco Ryde. Despite the predominantly unorganized nature of the sector, individual players and occasional investments contribute to the dynamics of the competitive landscape.
Segmentation of Shoe Repair Industry Research
- By Service:
- Heel Repair
- Toe Repair
- Sole Repair
- Restoration
- Stretching
- By Customer Orientation:
- Men
- Women
- Children
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
The Shoe Repair market stands as a testament to the enduring demand for quality craftsmanship and sustainable consumer choices. Through a comprehensive overview, insights into market dynamics, a forward-looking outlook, an exploration of growth drivers, an analysis of opportunities, and an understanding of recent industry news and notable developments, stakeholders can navigate the evolving landscape of the Shoe Repair market with clarity and strategic foresight.