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Global Foot Care Products Market Was Valued At $2.92 Billion In 2019, And Is Anticipated To Reach $4.5 Billion By 2027

08-05-2020 01:55 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Big Market Research

Foot Care Products

Foot Care Products

Foot care products are personal care products, which are involved in the preventive and remedial care of ankle and foot. These products are sold through various supply chains such as drug stores & pharmacies, hospitals & clinics, and online stores. The foot care products are sold in various forms, including foot creams, foot repair ointment, foot cleansing lotions, and slough scrub products. The global foot care market is growing at steady pace with a growth rate of 6.5–7.0%. According to AMR, the global foot care products market was valued at $2.92 billion in 2019, and is anticipated to reach $4.5 billion by 2027, with a CAGR of 7.10% during the forecast period. The foot care products market exhibits an incremental revenue opportunity of $1.6 billion from 2020 to 2027.

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Rapid growth in e-commerce distribution is the prime factor responsible for counterfeiting of cosmetic products. According to a report by the Financial Times, the online distribution of non-grocery goods grew by 12.7% to contribute around 24.3% of the total sales in 2018. The cosmetic industry has been strongly hit by counterfeit activities due to large number of consumers purchasing products through online sales channels. In addition, lack of brand loyalty among consumers while purchasing cosmetic products is responsible for decrease in penetration of cosmetic products.

Companies operating in the foot care products market face challenges from fake product distributers, thus witnessing decline in terms of sales. Such increased counterfeit activities due to lack of effective supply chain management is expected to hamper the revenue growth of personal care and cosmetic products market during the forecast period.

The foot care products market is segmented into product, application, distribution channel, and region. By product, it is categorized into foot repair ointment, foot creams, foot cleansing lotions, slough scrub products, and others. On the basis of application, it is categorized into sports & athletics, medical, and personal comfort. Depending on distribution channel, it is bifurcated into drug stores & pharmacies, hospitals & clinics, online stores, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, the Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

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.

KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the global foot care products market, with current and future trends to elucidate the imminent investment pockets in the market.
• The report provides information regarding drivers, restraints, and opportunities with impact analysis.
• A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the market.
• Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
• Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
• Competitive intelligence highlights the business practices followed by the leading market players across various regions.

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Key market segments
By Product
• Foot Repair Ointment
• Foot Creams
• Foot Cleansing Lotions
• Slough Scrub Products
• Others

By Application
• Sports & Athletics
• Medical
• Personal Comfort

By Distribution Channel
• Drug Stores & Pharmacies
• Hospitals & Specialty Clinics
• Online Stores
• Others

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