Global Foot Care Products Market to Reach $3.5 Billion by 2026

SAN FRANCISCO, May 18, 2021 /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.

FACTS AT A GLANCE
Edition: 16; Released: May 2021
Executive Engagements: 11504
Companies: 171– 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. Rapidly changing lifestyle and fashion trends have significantly increased the exposure of the skin of the feet, thereby increasing the demand for foot care products. The aging baby boomer population, rising number of patients with diabetes, increased incidences of foot infections caused by bacteria, increased demand among millennial consumers, and improvements in distribution channels are propelling growth in the market. These products are more popular among women owing to the rising trend of open shoes and sandals. Amid the COVID-19 crisis, the global market for Foot Care Products estimated at US$2.7 Billion in the year 2020, 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 $535.5 Million in 2021, While China is Forecast to Reach $518.2 Million by 2026
The Foot Care Products market in the U.S. is estimated at US$535.5 Million in the year 2021. 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. Growing elderly population, their susceptibility to injuries and foot conditions such as corns, calluses and pain is a major factor driving growth in the US market. With around 23 million people suffering from diabetes in the country, the US offers significant potential for foot care products used in treating or preventing diabetic foot diseases. Existing reimbursement framework for treating foot ailments, adoption of related products is high in the country. Growth in the Asia-Pacific is driven by the 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. In recent years, consumers are increasingly demanding products that are manufactured using organic and natural ingredients rather than synthetic.

Slough Scrub Products Segment to Reach $708.8 Million by 2026
Slough scrub products are basically textured, creamy products that are intended to exfoliate and slough off the hard, rough skin on the feet. These products allow the user to effectively remove dull, dirty and dead skin accumulated on their feet. Slightly more abrasive in comparison to body and face scrubs, slough scrubs work on stronger and harder skin of the feet to effectively slough off and deliver the desired results. 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 in the year 2020 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. More

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SOURCE Global Industry Analysts, Inc.