The global foot care products market size was valued at USD 3.64 billion in 2023 and is expected to be worth USD 3.84 billion in 2024. The market is projected to reach USD 6.28 billion by 2032, recording a CAGR of 6.36% during the forecast period.
Foot care products refer to products that help in maintaining the optimum health of feet. The prevalence of foot-related ailments is increasing at a worrying pace across the world due to factors, such as growing participation in sports and adoption of an active lifestyle. Since these scenarios can increase people’s risks of sustaining injuries and contracting fungal infections, the demand for foot care products is rising at a strong rate.
Fortune Business Insights™ displays this information in a report titled, “Foot Care Products Market, 2024-2032.”
Top Key Players Covered in the Foot Care Products Market:
- Reckitt Benckiser Group Plc (U.K.)
- Pedifix Inc. (U.S.)
- Medi GmbH & Co. KG (Germany)
- Johnson & Johnson Services Inc. (U.S.)
- Revlon Inc. (U.S.)
- Merck & Co. Inc. (U.S.)
- MAGHAM Inc. (Canada)
- HoMedics USA LLC (U.S.)
- Aetrex Worldwide Inc. (U.S.)
- Alva-Amco Pharmaceuticals Companies, Inc. (U.S.)
- HRA Pharma S.A. (France)
Information Source: https://www.fortunebusinessinsights.com/foot-care-products-market-104272
Segmentation:
Effective Treatment of Foot Disorders to Augment Demand for Foot Lotions and Creams
Based on type, the market is segmented into foot creams & lotions, shoe pads, moisturizing socks, and others. The foot creams & lotions segment captured the biggest foot care products market share in 2022 as these products are effective in treating a wide range of foot disorders, such as calluses and fungal infections.
Sales of Medical-Grade Foot Care Solutions to Rise Due to Increasing Prevalence of Foot Diseases
Based on categories, the market is divided into personal use, sports & athletes, and medical. The medical segment held a major share of the market due to the rising incidence of foot-related ailments. This scenario has accelerated the adoption of these products in clinics and hospitals.
Pharmacy Stores to Witness Rise in Customer Footfall Due to Wide Availability of Reliable Products
Based on distribution channel, the market is segregated into hypermarkets & supermarkets, pharmacy stores, online stores, and convenience stores. The pharmacy store segment held the biggest market share as these stores sell many foot care items manufactured by leading brands. This increases customers’ trust in the products.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed analysis of the market and covered key aspects, such as prominent distribution channels, categories, and leading product types. It also offers insights into the most recent market trends and top industry developments. Apart from the abovementioned factors, the report encompasses several factors that have amplified the market’s growth.
Drivers and Restraints:
Increasing Demand for Specially Designed Foot Care Items to Foster Market Progress
The demand for specially designed foot care products is growing among patients across the world as these products have the ability to cater to various foot care needs that are unique to them. Many patients suffering from foot pain are looking for customized footwear that can alleviate their pain and offer them comfort. These factors are expected to amplify the sales of customized foot care solutions.
However, growing presence of fake or imitation products made by reputed brands can impede the market progress.
Regional Insights:
Increase in Elderly Population to Help Asia Pacific Dominate Global Market
Asia Pacific might hold a dominant position in the global market as the region’s aging population is increasing at a steady pace every year. Several countries already have a large population of old people, which can increase their risk of contracting foot diseases. This factor can spike the adoption of foot care products to treat these ailments effectively.
The market in North America might grow steadily due to factors, such as high living standards, notable shifts in demography, and rising spending on healthcare.
Competitive Landscape:
Collaborations and Partnerships to Help Leading Companies Sustain Their Market Positions
Some of the key market players are signing collaboration and partnerships deals with other firms to expand their geographic presence and launch new products. They are also introducing advanced technologies to make advanced foot care solutions and maintain their top market positions.
Notable Industry Development:
- May 2023: CEP Compression, a subsidiary company of medi, a leading global manufacturer of medical compression products, announced the launch of the first-ever Max Cushion Sock with the Mid-Cut and No-Show Training Sock. These socks are designed for those who prefer thicker socks during workouts, making their legs feel lighter and protecting them against injuries by supporting the tendons and ligaments in the feet.
