Aug 16, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Foot Care Products Market.
It was estimated prior to this unanticipated outbreak that the Foot Care Products Market was expected to grow at a CAGR of 7.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
An increase in the number of individuals suffering from foot infections has further escalated the demand for foot care products.
- Foot care products are critical for sustaining proper foot health.
- The rising penetration of the internet and growing awareness for e-commerce distribution channels have substantially increased the adoption of locally manufactured goods, which is expected to offer immense opportunities to the industry players.
- Moreover, a rise in the demand from millennials, better distribution channels, and improvement in marketing strategies further augment the market growth.
- However, price sensitivity is likely to hinder product consumption.
Based on products, the global foot care products market has been categorized into foot repair ointment, foot creams, foot cleansing lotions, slough scrub products, others.
- Among these, the foot creams segment witnessed the largest market share in 2020.
- Cosmetic and personal care products are gaining popularity among target consumers, due to convenient packaging design.
- Furthermore, due to their creamy texture, these creams help to keep the feet hydrated, preventing dry skin, thus bolstering the segment growth.
By region, the Asia Pacific market held the largest market share in 2020 and is estimated to register a robust CAGR during the forecast period.
- This is majorly attributed to an increase in purchasing power, rapid urbanization, preference for different personal care cosmetic products, and the presence of a wide consumer base.
- Also, the consumers are shifting towards organic and natural ingredients instead of chemical-based, thus offering lucrative opportunities to the market participants.
Key players operating in the global foot care products market are-
- Johnson Johnson (The US),
- Del Laboratories (The US),
- HoMedics (The US),
- PediFix, Inc (The US),
- Alva-Amco Pharmacal, Inc, (The US),
- Revlon (The US),
- Aetna Foot Products (The US),
- Blistex Inc (The US),
- Glaxosmithkline Plc (UK), and
- Miracle of Aloe (The US).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Foot Care Products analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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