The global foot care products market report explores the critical analysis of the foot care products industry using key parameters. The report consists of investment strategies, the need for investments in the foot care products industry, and the multiple benefits for investors. Importantly, this report sets out major changes in the global technical regulations for the foot care products industry and how economic and non-economic barriers are helping the foot care products market grow. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
REPORT ATTRIBUTE
DETAILS
Foot Care Products Market by Volume
Yes
Market by Value
Yes
Market, Tornado Analysis
Yes
Market, STAR Analysis
Yes
Market, SRC Analysis
Yes
Market Pricing Analysis
Yes (On Demand)
Market Segment Analysis
By Application (Sports & Athletics, Medical, Personal Comfort)
By Distribution Channel (Drug Stores & Pharmacies, Hospitals & Specialty Clinics, Online Stores and Others)
Market, Regional Analysis
North America (the U.S. and Canada)
Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Southeast Asia, and the Rest of Asia Pacific)
Latin America (Brazil, Mexico, and the Rest of Latin America)
The Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)
Market Key Companies
Johnson & Johnson, Del Laboratories, HoMedics, PediFix, Inc, Alva-Amco Pharmacal, Inc, Revlon, Aetna Foot Products, Blistex Inc, GlaxoSmithKline Plc, Miracle of Aloe
Market Competitive Landscape
Market Share Analysis
Competitive Benchmarking
Key Players Market Positioning
Geographical Presence Analysis
Major Strategies Adopted
Key Highlights of the report
How are the major segments performing in the foot care products market?
In 2021, the medical segment accounted for the highest market share due to an increase in hospitals' and clinics' use of such products as a result of the growing prevalence of foot-related diseases around the world.
In 2021, the hospitals & specialty clinics segment was anticipated to have a major share of the global foot care products market due to its more effective products.
Which region dominated the foot care products market?
In 2021, the North American region have the highest share of the global market over the forecast year. This is attributed to the increasing spending of the population on health & personal care products, which results in large revenues from such products.
How is the U.S. market performing in the foot care products market?
In 2021, the global market for foot care products was predicted to be dominated by the North American area. The U.S. is anticipated to have a significant impact on the markets for foot care goods. For instance, the Centers for Medicare & Medicaid Services reported that in 2018, U.S. healthcare spending increased by 4.6% from the previous year to reach USD 3.6 trillion.
What is the competitive environment of the foot care products market?
The key players in the market have adopted various development strategies to expand their market share, increase profitability, and remain competitive. For instance: In December 2019, HRA Pharma S.A., a European foot care products company with their brand' Compeed,' expanded its presence in international markets such as UAE, Kuwait, and Saudi Arabia to gain the first-mover advantage in such newer markets.
Executive Summary
How does foot care products used in medicine?
Foot care products are expected to register significant growth in the medical segment due to the rise in the consumption rate of such products among hospitals and clinics.
Which are the key investments by the Foot care products Market players?
Companies introduce personal hygiene products to protect the foot from infections and skin itching. For instance, in April 2020, The OTC Lab B.V. introduced fungal nail plaster under their FungeX product line. Such a plaster product is essentially used to avoid & remove the fungal infection of the foot nail.
Some major foot care products market players are Johnson & Johnson, Del Laboratories, HoMedics, PediFix, Inc, Alva-Amco Pharmacal, Inc, Revlon, Aetna Foot Products, Blistex Inc, GlaxoSmithKline Plc, Miracle of Aloe.
What are the major driving factors for the foot care products market?
Due to the unhealthy lifestyles & higher standard of living, the global population is experiencing an increase in foot-related issues like bunions, corns, and blisters. This is the potential to drive the growth of the foot care products market. Additionally, the growing prevalence of aging and diabetes is likely to drive the demand for foot care socks and shoe pads. In addition, the foot care products market is growing due to increased demand among millennial customers, increased marketing strategies, and improved distribution channels. Due to increased investments by small and mid-sized firms, the impact of these factors is expected to grow dramatically in the future.
What are the major risks for the foot care products market?
The widespread availability of fake goods is predicted to hurt the sales of well-known foot care companies. The expansion of well-known companies is likely to be constrained by intense local competition.
Which is the key application in the foot care products market?
The reasons driving sales in the medical industry include improving people's living standards and increasing awareness of the benefits of foot care products. Furthermore, an increase in the incidence of skin cancers such as melanoma and non-melanoma, as well as active government activities to combat skin cancer, are expected to drive demand for foot care products.
How is the foot care products market performing in regions?
The Asia-Pacific region is anticipated to have the highest share of the foot care products market during the forecasted timeframe, attributed to the growing prevalence of chronic disorders. India, China, and Japan are the prominent countries supporting this region's market development. The revenue generated by these regions in 2020 was 27, 37.5, and 34 million, respectively. Apart from these countries, other southeast Asian countries generated 23 million in revenue in 2020.
The North American region is expected to register the second-highest growth in the foot care products market during the projected timeframe. In this region, the United States is the single largest market for foot-care products. The country's growing elderly population and their vulnerability to injuries and foot ailments such as corn, calluses, and pain are pushing the demand for foot care products. The rising incidence of diabetic foot, corns, foot pain, and calluses has boosted foot care product sales. According to Statista, in 2020, the OTC sales of foot care products were 42 million units. This number is anticipated to increase during the forecasted timeframe, thus, strengthening the growth of the global market in this region.
What is the regulatory landscape for the foot care products market?
Fake product distribution poses a problem for companies in the foot care products market, resulting in a decline in sales. Increased counterfeit activities as a result of ineffective supply chain management are likely to hamper the growth of the foot care products market over the forecasted period.
What is the market size of foot care products regarding value?
The global foot care products market is anticipated to grow at a significant CAGR of 6.80% in the upcoming years. The global foot care products industry was estimated to be worth USD 3158.5 million in 2021 and was expected to be worth USD 4687.1 million by 2028.
What are the major players planning for the future of the foot care products market?
Major players are concentrated on innovative product packaging to surge the usability of foot care products. To see the ever-changing requirement of customers, enterprises are directed to R&D activities to introduce a new product line in the market of foot care products. These corporations are further capitalizing on packing and advertising activities to gain more visibility among consumers.
Segmentation of the Global Foot Care Products Market-
Global Foot care products Market – By application
Sports & Athletics
Medical
Personal Comfort
Global Foot care products Market – By Distribution Channel
Drug Stores & Pharmacies
Hospitals & Specialty Clinics
Online Stores
Others
Global Foot care products Market – By region
North America
US
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Frequently asked questions about the global Foot care products Market
The COVID-19 pandemic has negatively affected the global foot care product market in 2020.
Asia Pacific dominates the global market for foot care products. This is majorly attributed to increased purchasing power, rapid urbanization, preference for different personal care & cosmetic products, and a wide consumer base.
Growing number of individuals suffering from foot infections has further escalated the demand for foot care products
The medical segment had a major global market share in 2021.
The hospitals & specialty clinics segment had a major share in the global market.
