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The global foot care products market size was valued at USD 3.64 billion in 2023. The market is projected to reach USD 5.44 billion by 2030, recording a CAGR of 5.92% during the forecast period.
Foot care products play a vital role in helping individuals maintain proper foot health and prevent foot-related ailments. Foot creams & lotions, antiperspirant sprays, powders, and socks are some of the products widely used by customers to enhance their comfort and hygiene. The growing incidence of foot-related disorders and growing awareness of self-care routines are expected to boost the foot care products market growth.
Fortune Business Insights™ displays this information in a report titled, "Foot Care Products Market, 2023-2030."
Information Source:
https://www.fortunebusinessinsights.com/foot-care-products-market-104272
List of Key Players Profiled in the Foot Care Products Market Report:
COVID-19 Impact:
COVID-19 Slowed Market Growth Due to Decreased Demand for Foot Insoles and Inserts
The COVID-19 pandemic had a negative impact on the market as governments across the globe imposed several restrictions and nationwide lockdowns to mitigate the spread of the virus. Since footwear brand outlets were closed to adhere to social distancing norms, the sales of foot care products fell considerably during this period, which further decreased the demand for foot insoles and inserts.
Segments:
Demand for Foot Lotions and Creams to Rise Due to Their Effectiveness in Treating Foot-Related Ailments
Segmented by type, the market comprises foot creams & lotions, shoe pads, moisturizing socks, and others. Foot creams & lotions lead the market share, attributed to their efficacy in treating foot-related ailments like fungal infections and calluses.
Growing Incidence of Foot Diseases to Boost Sales of Medical-grade Foot Care Solutions
Categorized into personal use, sports & athletes, and medical, the market sees a significant share in the medical segment. The increasing prevalence of foot-related diseases globally drives the utilization of medical-grade foot care products in hospitals and clinics.
Availability of Quality Products from Reputed Brands to Fuel Product Sales from Pharmacy Stores
Distribution channels include hypermarkets & supermarkets, pharmacy stores, online stores, and convenience stores. Pharmacy stores hold the largest market share, offering a wide array of foot care solutions from trusted brands, instilling confidence in consumers.
Regional Coverage:
North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
In-depth analysis covers leading categories, distribution channels, and product types, along with key industry developments and market trends. Additionally, the report addresses various growth-driving factors beyond those mentioned.
Drivers and Restraints:
Innovations in Biotechnology, Material Science, and Production Processes to Fuel Market Growth
Advancements in biotechnology, material science, and production processes have led to customizable smart insoles equipped with sensors. These innovations mitigate injury risks, enhance performance, and propel market growth. However, counterfeit product sales pose a challenge.
Regional Insights:
Asia Pacific to Dominate Global Market Due to Rise in Aging Population
Asia Pacific's dominance is fueled by a growing aging population, particularly in countries like China and Japan, leading to increased demand for foot care products. Europe is expected to witness substantial growth due to heightened sports participation and a preference for active lifestyles.
Competitive Landscape:
Key Market Players Focus on Innovative Designs to Sustain Dominance
Leading market players prioritize innovative product designs to meet evolving consumer demands, maintaining market dominance through brand identity and loyalty, driving competitive dynamics.
Key Industry Developments:
January 2023: EMUAID launched ionic silver socks which are woven with natural, broad-spectrum silver fiber for long-lasting moisture and odor control, keeping feet dry, bacteria-free, and fungus-free.
