Foot Care Products Market is Anticipated to Grow at a Sluggish CAGR of 7.10% through 2027

Consumers are actively seeking for more advanced and multifunctional skin care solutions for their daily skin care routines

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220U, UNITED STATE, March 28, 2023 /EINPresswire.com/ -- Foot Care Products Market Overview 2021–2027

According to a new report published by Allied Market Research, titled, “Foot Care Products Market by Product, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” The global foot care products market size was valued at $2.92 billion in 2019, and is anticipated to reach $4.59 billion by 2027, with a CAGR of 7.10% during the forecast period from 2021 to 2027. Foot care products are largely used as over-the-counter skin nourishing cosmetic among people involved in outdoor & indoor activities. Foot care products help to recover skin from damage and infections, as these products consists of antioxidants, vitamins, and other soothing ingredients. The organic foot care products include ingredients such as essential oils.

Foot care products market sights critical growth opportunity:-

Consumers are actively seeking for more advanced and multifunctional skin care solutions for their daily skin care routines. This has resulted in introduction of novel multifunctional foot care products in the market, which are assimilated with other cosmetic ingredients such as anti-aging elements, lotions with moisturizing properties, and tinting agents. Foot products in combination with targeted skincare are becoming popular among consumers.

Manufacturers are focusing on key innovations that cater to the requirements of the large consumer base. Increase in awareness toward health benefits such as reduction in pain and increase in mobility & physical activity are expected to boost the demand for foot care products in emerging nations. Furthermore, increase has been witnessed in the number of netizens along with rise in internet penetration. Taking this into consideration, most of the key players in the foot care products market strategize on promoting their products on various social media platforms. Thus, through social media marketing strategy, the foot care products market sights critical growth opportunity.

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According to the foot care products market analysis, the market is segmented into product, application, distribution channel, and region.

*Depending on product, the foot care products market is categorized into foot repair ointment, foot creams, foot cleansing lotions, slough scrub products, and others.

*The foot creams segment was the highest contributor to the market, with $889.89 million in 2019, and is estimated to reach $1,255.52 million by 2027, at a CAGR of 5.7% during the forecast period.

*This is attributed to the fact that foot creams are widely preferred by local consumers in the mass market. End users majorly procure foot creams products through a traditional supply chain, which significantly contributes toward the growth of the segment.

The players in the foot care products market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market

*Johnson & Johnson,
*Del Laboratories,
*HoMedics,
*PediFix, Inc,
*Alva-Amco Pharmacal, Inc,
*Revlon,
*Aetna Foot Products,
*Blistex Inc,
*Glaxosmithkline Plc,
*Miracle of Aloe

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Key findings of the study

_ The global foot care products market was valued at $2.92 billion in 2019, and is anticipated to reach $4.59 billion by 2027, with a CAGR of 7.10% during the forecast period.

_ By product, the foot creams segment held the highest share, accounting for 30.41% of the global foot care products market share.

_ On the basis of application, the medical segment held the highest share, accounting for 42.79% of the global market share.

_ Depending on distribution channel, the online stores segment is estimated to hold the highest CAGR of 8.10% in the global foot care products market.

_ In 2019, Asia-Pacific was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.

TABLE OF CONTENT :-
CHAPTER 1: INTRODUCTION

1.1. Key benefits for stakeholders
1.2. Key market segments
1.3. Research methodology

1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. Key findings of the study
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings

3.2.1. Top investment pockets

3.3. Value chain analysis
3.4. Porter’s five forces analysis

3.4.1. Moderate Bargaining Power of Suppliers
3.4.2. Moderate Bargaining Power of Buyers
3.4.3. Moderate Threat of Substitution
3.4.4. Moderate Threat of New Entrants
3.4.5. Moderate Intensity of Competitive Rivalry

3.5. Market dynamics

3.5.1. Drivers

3.5.1.1. Introduction of value-added foot care products
3.5.1.2. Penetration of organic products
3.5.1.3. Upsurge in marketing activities and improvement in distribution channel

3.5.2. Restraint

3.5.2.1. Rise of counterfeit cosmetics

3.5.3. Opportunities

3.5.3.1. Revenue opportunities in establishing direct distribution network
3.5.3.2. Increase in investments by small- & mid-sized foot care products manufacturing companies

3.6. Impact of Covid-19 on foot care products market

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