Foot Care Products Market is forecast to grow due to rise in number of foot infections, improving marketing strategies and awareness of e-commerce distribution channels.The Global Foot Care Products Market size was valued at USD 3.1 Bn in 2020 and expected to reach USD 4.7 Bn by 2027, with a growing CAGR of 7.2 % during the forecast period (2021-2027).
The increasing prevalence of diabetic foot and its infections across the globe is expected to drive the industry. The gradual adoption of foot care products enhances the growth of the foot care products market during the forecast period. Increasing awareness of health benefits such as mobility, physical activities, and the need to reduce pain is expected to boost the demand for foot care products across the globe.
The foot care products market is broadly segmented into products, applications, distribution channels, and regions. Based on the product, the foot care products market is segregated into, foot creams, slough scrub, foot repair ointments, foot cleansing lotions, and others. Among these, the foot creams segment has gained a major market share in 2020 and is expected to gain more during the forecast period. This is due to the wide usage of foot creams by the local consumers for foot care purposes. The product launch on online selling portals has accelerated the demand of the foot care products market.
For instance, in August 2016, OmniPharma launched Novella Revive, a foot care cream on the Amazon shopping portal for foot repair for dry and cracked feet. Before selling on Amazon, it was sold in the local markets to get the stellar reviews and results. The company aimed to launch the product on a bigger market and thus it was launched on Amazon. Thus, the product was sold on the Amazon portal for a very competitive price.
There is a high usage of foot care products in medical applications such as for diabetic feet, blisters, bunions, claw and mallet toes, hammertoes, corns and calluses, ingrown toenails, athlete’s foot, and toenail fungus. According to the National Library of Medicine, the global prevalence of diabetic foot ulcers was 6.3%, which was higher in type 2 diabetic patients than in type 1 diabetics and higher in males than in females. Thus, the increasing foot ulcers and other foot disorders are expected to drive the foot care products market.
The increasing product preference from clinics and hospitals by the doctors for infected foot drives the sale of the product. During the pandemic visits and consultations in hospitals are reduced due to the increase in COVID-19 cases. But this has driven the market through the online platform. People are preferring to buy footcare products from an online platform, increasing the sale of the products even in the pandemic. However, the sales of the products did not hamper during the phase owing to increased demand through online channel.
Global Foot Care Products Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, Asia Pacific dominated the foot care products market in 2020 and is expected to witness a similar growth rate during the forecast period due to the huge customer base and people’s preference of products and increasing urbanization in the region. The high purchasing power also attribute to the growth of the region. As there is an increasing beauty conscious population in the region there is a high demand for personal care and cosmetic products accelerating the foot care products market the region. Foot care is one of the prominent factors in one’s personal care regime. The increasing demand for organic beauty enhancing methods and products also speed up the foot care products market in the region.
The key players like Footlogix, Lush, Dr. Scholl's, observed a high revenue generation in foot care products. For instance, in May 2021, Dr. Scholl’s launched five foot care products and a grooming collection. The properties of product such as fast healing, hydration of the skin, and exfoliate dry and cracked foot callouses promotes the demand, accelerating the sale.
The Global Foot Care Products MarketSegmentation:
Global Foot Care Products Market by Product Outlook (Revenue, USD Million, 2021-2027)
Global Foot Care Products Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global Foot Care Products Market by Distribution channel Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the market are: