Foot Care Products -amr

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

POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, July 16, 2022 /EINPresswire.com/ -- 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.

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.

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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.

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.

On the basis of application, the medical segment held a significant share of 42.79% in the global market in 2019. This is attributed to surge in disposable income and rise in awareness toward probable risks associated with foot problems.

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By distribution channel, the hospitals & specialty clinics segment dominated the market in 2019, accounting for 35.51% of the share, and is expected to retain its dominance throughout the foot care products market forecast period. This is attributed to the fact that consumers are preferring products from various offline distribution channel such as clinics stores and hospitals while treatment.

Region wise, Asia-Pacific was the prominent market in 2019, garnering maximum share, owing to the presence of huge consumer base and increase in population. SMEs operating in Asia and Europe are targeting online channels to increase their sales. These companies are further investing into various marketing and advertising activities to increase their product awareness. Surge in penetration of foot care products among people and increase in preference of organic/natural cosmetics are anticipated to fuel the foot care products market growth during the forecast period.

The key players profiled in this report include Johnson & Johnson, Del Laboratories, HoMedics, PediFix, Inc., Alva-Amco Pharmacal, Inc., Revlon, Aetna Foot Products, Blistex Inc., Glaxosmithkline Plc., and Miracle of Aloe. The key players provide current foot care products market trends, financial statement, and products development.

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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.

Key offering of the Report:
Key driving factors: An in-depth study of the dynamic factors such as drivers, restraints, challenges, and opportunities
Current market trends & forecasts: A comprehensive study of the the Foot Care Products Market
along with recent market trends and forecasts during the forecast period to help customers make an informed decision and formulate lucrative business strategies
Segmental Analysis: A study of each segment coupled with driving factors and growth rate analysis of every segment
Geographical analysis: An in-depth analysis of the market across several geographical regions that help market players to leverage fruitful market opportunities
Competitive landscape: A study of prime market players that are currently leading the Foot Care Products Market

Prime Benefits:

The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, which enables business investors to devise sound, fruitful business decisions.
The study covers a detailed study of the latest market trends and market size coupled with a forecast of the Foot Care Products Market during the forecast period.
The report offers an analysis of the potential of the market across various geographical regions along with revenue contribution.
The study includes a detailed analysis of the key market players that are active in the market.

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David Correa
Allied Analytics LLP
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