Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The increasing foot care regime among consumers will make a demand for foot care products. Feet are an important body part as a whole, and pressure is put on our feet while walking. The skin of feet is more susceptible to infection, roughness, and dryness, which results in callusing and even cracking. Foot Care Products are helpful in maintaining the health of the feet. There are many products available on the market such as foot care creams, lotions, and much more. Foot care is important to overall health and mobility functions and hence foot care products are important thus increasing need for foot care products for personal hygiene and increasing consumer preference for foot care cosmetics are driving the market’s growth over the forecast period.
The increasing awareness of foot diseases and infection will drive market growth. The increasing number of diabetic patients around the world will also boost market growth. Diabetic patients are more prone to a foot infection and require foot care products and this factor is gaining traction in market growth. In addition, trends such as sandals, slides, and open-toed shoes which increasing the exposure of feet will propel the market growth over the forecast period. Furthermore, increasing e-commerce growth and the emergence of new foot care brands also boost market growth.
The increasing research and development activity in foot care products by many companies to develop new and improved foot care offerings will bring future growth potential in the foot care products market. The companies are working with the right materials such as custom fabrics, adhesives, films, foams, and non-woven materials, right formulations, designs, and materials which offer future growth potential. The development of customized solutions that match end-user needs will present many future opportunities over the forecast period.
The Foot Care Products market is restricted by factors such as an increasing lack of brand loyalty that negatively penetrates the market and will serve as a major constraining factor in the market’s growth. In addition, the fake distribution of products on the eCommerce platform has stirred up brand loyalty issues. The world has been revolving around moment marketing that is happening due to changing demographics and the cultural shift in the market, as well as increasing volcanic consumer demand makes companies to overlook brandling aspects. These are some factors that negatively hamper the market expansion.
The Footcare market has been facing key challenges that include fighting fake branding and gaining customers’ trust and insight. Many manufacturers are claiming fake health benefits for product sale. If the consumer is not being confessed or approved of the taste or brand, then it will lead to product failure.
The report provides an in-depth analysis of the global Foot Care Products market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for different foot care products due to the increasing adoption of foot care products due to increasing consumer awareness about health is expected to witness growth at a specific CAGR from 2021-2028.
The global Foot Care Products market comprises different market segments like product, application, distribution channels and geography.
By-products, foot care products include key segments of
Foot Creams are expected to be dominant and hold the major market share during the forecast period. The increasing popularity of foot care creams for their ease of use and effectiveness and other benefits such as skin hydration and preventing dry skin and heels will drive the segment’s growth. In addition, the consumer’s increased focus on convenient packaging design will boost segment growth over the forecast period.
The Foot Care Products market finds major applications in
The medical segment holds the major market share. The growth of the segment is attributed to the increasing popularity of foot care products in medical applications. The increasing disposable income and elevated living standards and rise in awareness about the benefits of the products. The increasing prevalence of skin cancer such as melanoma and non-melanoma will push up the market growth
The Foot Care Products market is segmented by distribution channels such as
Hospitals and specialty clinics are presented to be a dominant and held the major market share over the forecast period. Hospitals and specialty clinics provide more effective foot care products and thus contribute segment’s growth.
The online segment is also growing at the fastest pace over the future time owing due to the increasing popularity of online pharmacies and e-commerce growth will drive the segment growth.
The global Foot Care Products market is studied for the following region
The Asia Pacific is prominent and held the major market share over the forecast period. The reasons for growth are increasing population and increasing disposable income, the presence of a wide number of customers, and an increase in urbanization will be the major driving factors for regions’ growth. In the Asia Pacific region, China held the major market share and came out as the biggest country in terms of revenue, the growing cosmetics industry in China and Japan, and India will be the major contributor to Asia’s growth over the mentioned time frame.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global Foot Care Products market. This exclusive report provides insights into economic and international policies on supply and demand as well as market expenditure. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and the marketing strategies of key players present in the market.
The Global COVID-19 pandemic has made the industry standstill. The pandemic has caused a huge impact on the color cosmetics, skincare range, fragrances, personal care products, hair care products, and the overall beauty and cosmetics industry. The lockdown impositions have made the closure of salons, spas, and health care studios and caused negative economic impact but despite this, the personal care products industry has shown a positive response during COVID-19 as many manufacturers of the process of manufacturing to producing hand sanitizers or some other cleaning agents. Many beauty brands are switching to online offerings, to offer e-consultation services and investing in the right technology such as chatbots and augmented or virtual reality as more consumers seek beauty advice from the comfort of their homes. It has been observed that the demand for beauty and cosmetic products had seen a downfall whereas, the demand for personal hygiene products has grown by an extent and will show a mixed impact on the industry. The Global demand for has a fall by 20-30% for cosmetic products e world due to COVID-19, as stated by the study report by McKinsey.
The competitive landscape analysis of the Foot Care Products market is primarily focused on expanding the global growth of the Foot Care Products industry with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Foot Care Products sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
February 2022: DePuy Synthes which is a subsidiary company of Johnson & Johnson Medical Devices has acquired CrossRoads® Extremity Systems which is a foot and ankle company that provides a broad range of procedure-specific, sterile-packed implants and instrumentation systems cleared for lower extremity indications.
The global Foot Care Products Market is segmented into products, applications, and distribution channels. Based on Products, the market is segmented into foot repair ointment, foot creams, foot cleansing lotions, slough scrub products, and others. By application, the foot care products market is divided into Sports and athletics, medical, and personal comfort. By distribution channel, the global Foot Care Products market is spreading into drugstores and pharmacies, hospitals and speciality clinics, online stores. The global Foot Care Products market is studied for the following region North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The North American region is projected to lead the market during the forecast period.
| Market Sizing for Year: | 2019-2028 |
| Base Year: | 2021 |
| Forecast Period: | 2022-2028 |
| Value: | USD
Million |
| Market Segment studied: | Products Application Distribution Channel |
| Market Players and its Competitors: | The
Coca-Cola Company (United States) PepsiCo.
Inc. (United States) The
Gatorade Company, Inc. (United States) Carlsberg
A/S. (Denmark) Red
Bull GmbH. (Austria) Nestlé
S.A. (Switzerland) Molson
Coors Beverage Company (United States) Vital
Pharmaceuticals Inc. (United States) Arizona
Beverage Company (United States) Amway
Corporation (United States) National
Beverage Corp. (United States) Suntory
Holdings Ltd. (Japan) Xyience
Energy (United States) Molson
Coors Beverage Company (United States) Monster
Beverage Corporation (United States) Lucozade
(United Kingdom) NEALKO
ORAVAN, spol.s.r.o. (Slovakia) |
FREQUENTLY ASKED QUESTIONS
What are the drivers for the Foot Care Products market?
The increasing awareness of foot diseases and infection will drive market growth.
Which is the leading Product segment for the Foot Care Products market?
Foot Creams has accounted for the major market share over the forecast period.
Which region is gaining a majority of market share during the forecast period (2021-2028)?
Asia Pacific is expected to gain a major market share during the forecast period (2021-2028).
