With Market Size Valued at $3.5 Billion by 2026, it`s a Healthy Outlook for the Global Foot Care Products Market

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Mar 10, 2022, 10:10 ET

SAN FRANCISCO , March 10, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Foot Care Products - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: February 2022
Executive Pool: 11504
Companies: 112 - Players covered include Aetna Felt Corporation; Aetrex Worldwide, Inc.; Alva-Amco Pharmacal Companies, Inc.; Blistex Inc.; Chattem, Inc.; Footcare Express Inc.; GlaxoSmithKline Plc.; HoMedics, Inc.; Implus LLC; Johnson & Johnson; Miracle of Aloe; PediFix, Inc.; ProFoot, Inc.; Scholl's Wellness Co.; Spenco Medical Corporation; Tweezerman International LLC; Xenna Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product (Foot Creams, Foot Cleansing Lotions, Slough Scrub Products, Foot Repair Ointments, Other Products); Application (Medical, Other Applications)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Foot Care Products Market to Reach $3.5 Billion by 2026
Foot care products are used for providing remedial and preventive foot and ankle care. Foot care products can help in treating a wide range of foot problems, including nail health, finger pain, toe pain, and heel pain. These problems can occur due to disease complications, general wear and tear, injury, or simply ill-fitting shoes. Global foot care products market is driven by continuous demand among consumers for products that can help them in maintaining better hygiene and esthetics. The aging baby boomer population, rising number of patients with diabetes, and increased incidences of infections caused by bacteria are some other key factors driving the market growth. Most notably, demand in the foot care products market is being driven by the rising incidence of foot infections. In addition, increased demand among millennial consumers, upsurge in marketing strategies, and improvements in distribution channels are propelling growth in the foot care products market. The impact of these factors is likely to increase significantly in the coming years owing to rising investments by small- and mid-sized manufacturers. Growth in the market is also supported by developments in podiatry medicine.

Amid the COVID-19 crisis, the global market for Foot Care Products estimated at US$2.9 Billion in the year 2022, is projected to reach a revised size of US$3.5 Billion by 2026, growing at a CAGR of 4.7% over the analysis period. Foot Creams, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Foot Cleansing Lotions segment is readjusted to a revised 4.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $553.5 Million in 2022, While China is Forecast to Reach $518.2 Million by 2026
The Foot Care Products market in the U.S. is estimated at US$553.5 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$518.2 Million by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR. The US represents the single largest market for foot-care products worldwide. Growing elderly population, their susceptibility to injuries and foot conditions such as corns, calluses and pain is a major factor driving market for foot care products in the country. Growth in the Asia-Pacific market for foot care products is expected to remain robust led by factors such as presence of a large consumer base, rising urbanization, an increase in buying power among consumers, and growing preference for various personal care and cosmetic products.

Slough Scrub Products Segment to Reach $708.8 Million by 2026
In the global Slough Scrub Products segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$343.1 Million will reach a projected size of US$481.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$101.1 Million by the year 2026, while Latin America will expand at a 6.2% CAGR through the analysis period.
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