Pune, India, Dec. 14, 2023 (GLOBE NEWSWIRE) -- The global foot care products market size was valued at USD 3.46 billion in 2022 and is expected to be worth USD 3.64 billion in 2023. The market is projected to reach USD 5.44 billion by 2030, recording a CAGR of 5.92% during the forecast period.
Foot care products play a vital role in helping individuals maintain proper foot health and prevent foot-related ailments. Foot creams & lotions, antiperspirant sprays, powders, and socks are some of the products widely used by customers to enhance their comfort and hygiene. The growing incidence of foot-related disorders and growing awareness of self-care routines are expected to boost the foot care products market growth.
Fortune Business Insights™ displays this information in a report titled, "Foot Care Products Market, 2023-2030."
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List of Key Players Profiled in the Foot Care Products Market Report:
- Reckitt Benckiser Group Plc (U.K.)
- Pedifix Inc. (U.S.)
- Medi GmbH & Co. KG (Germany)
- Johnson & Johnson Services Inc. (U.S.)
- Revlon Inc. (U.S.)
- Merck & Co. Inc. (U.S.)
- MAGHAM Inc. (Canada)
- HoMedics USA LLC (U.S.)
- Aetrex Worldwide Inc. (U.S.)
- Alva-Amco Pharmaceuticals Companies, Inc. (U.S.)
- HRA Pharma S.A. (France)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 5.92% |
| 2030 Value Projection | USD 5.44 Billion |
| Market Size in 2022 | USD 3.46 Billion |
| Historical Data | 2017-2021 |
| No. of Pages | 120 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
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| Foot Care Products Market Growth Drivers | Advancements in Material Science, Biotechnology, and Manufacturing Processes to Augment Market Progress |
| Rising Demand for Customized and Specially Designed Foot Care Products to Fuel Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/foot-care-products-market-104272
COVID-19 Impact:
COVID-19 Slowed Market Growth Due to Decreased Demand for Foot Insoles and Inserts
The COVID-19 pandemic hurt the market as governments across the globe had imposed several restrictions and nationwide lockdowns to mitigate the spread of the virus. Since footwear brand outlets were closed to adhere to social distancing norms, the sales of foot care products fell considerably during this period, which further decreased the demand for foot insoles and inserts.
Segments:
Demand for Foot Lotions and Creams to Rise Due to Their Effectiveness in Treating Foot-Related Ailments
Based on type, the market is segmented into foot creams & lotions, shoe pads, moisturizing socks, and others. The foot creams & lotions segment accounted for the largest foot care products market share in 2022 as these creams and lotions can play a vital role in treating foot-related ailments, such as fungal infections and calluses.
Growing Incidence of Foot Diseases to Boost Sales of Medical-Grade Foot Care Solutions
Based on categories, the market is segmented into personal use, sports & athletes, and medical. The medical segment captured a dominant market share as the prevalence of foot-related diseases is rising across the world, which has increased the use of these products in hospitals and clinics.
Availability of Quality Products from Reputed Brands to Fuel Product Sales from Pharmacy Stores
Based on distribution channel, the market is segmented into hypermarkets & supermarkets, pharmacy stores, online stores, and convenience stores. The pharmacy store segment captured the largest market share as these stores have a vast range of foot care solutions from reputed brands, which increases customers’ confidence in the products.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report analyzes the market in detail and highlights crucial areas, such as leading categories, distribution channels, and product types. It provides valuable information regarding the key industry developments and the latest market trends. Besides the factors mentioned above, the report covers many factors that have fueled the market’s growth.
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Drivers and Restraints:
Innovations in Biotechnology, Material Science, and Production Processes to Fuel Market Growth
Advancements in the fields of biotechnology and material science, and the introduction of advanced production processes have paved the way for smart insoles that can be customized as per customers’ needs. These insoles are equipped with smart sensors to monitor a user’s biometrics and offer valuable data about their health. This data can further prevent the risks of injuries and enhance their performance, thereby bolstering the market growth.
However, growing sales of counterfeit products can hamper the market progress.
Regional Insights:
Asia Pacific to Dominate Global Market Due to Rise in Aging Population
Asia Pacific might dominate the global market due to a notable growth in the region’s aging population. Countries, such as China and Japan have a vast elderly population, which often gives rise to several age-related foot ailments. This factor can increase the sales of foot care products to treat these diseases effectively.
Europe may also showcase significant growth in the future due to growing participation in sports and a preference for an active lifestyle.
Competitive Landscape:
Key Market Players Have been Putting Their Focus on Innovative Designs to Maintain Their Dominance
Some of the key players operating in the global foot care products market are putting their emphasis on designs and manufacturing of innovative products to meet changing demand for consumers. Market players have been maintaining their market positions with their brand identity and brand loyalty which is driving the competition.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply Chain Challenges
- Potential Opportunities due to COVID-19
- Global Foot Care Products Market Analysis, Insights and Forecast, 2017-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Foot Creams & Lotions
- Shoe Pads
- Moisturizing Socks
- Others
- By Categories (Value)
- Personal Use
- Sports & Athletes
- Medical
- By Distribution Channel (Value)
- Hypermarket & Supermarket
- Pharmacy Stores
- Online Stores
- Convenience Stores
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
Key Industry Developments:
January 2023: EMUAID launched an ionic silver socks which are woven with natural, broad-spectrum silver fiber for long-lasting moisture and odor control, keeping feet dry, bacteria-free, and fungus-free.
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