Portland, OR, July 16, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research,the global foot care products market generated $2.92 billion in 2019, and is estimated to reach $4.59 billion by 2027, registering a CAGR of 7.1% from 2020 to 2027.The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Increase in demand for organic products, aggressive marketing, and development of distribution channels drive the growth of the global foot care products market. However, availability of alternative productshinders the market growth. On the other hand, increase in the investment on research and development activities create new opportunities in the coming years.
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Covid-19 scenario:
- The raw material supply is one of the major roadblocks faced by the foot care products manufacturers due to disrupted supply chain, traffic control, and restrictions on public movement in the affected countries across the globe.
- Trade restrictions by several countries across the globe to curb the spread of Covid-19 have significantly affected logistics and transportation, which in turn, impacted the cosmetics products supply chain and availability of products at retail level.
The report offers a detailed segmentation of the global foot care productsmarket based onproduct, application, distribution channel, and region.
Based on products, the foot creams segment contributed to the largest share in 2019, accounting for nearly one-third of the total share, and is estimated to maintain its dominant position during the forecast period. However, theslough scrub products segment is expected to register the highest CAGR of 7.8% from 2020 to 2027.
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Based on application, the medical segment accounted for the largest share in 2019, holding more than two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the personal comfort segment is estimated to portray the highest CAGR of 7.8% during the forecast period.
Based on region, Asia-Pacific contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Europe is expected to grow at the highest CAGR of 7.8% from 2020 to 2027.
Leading market players analyzed in the research include Johnson & Johnson, HoMedics, PediFix, Inc., Del Laboratories, Revlon, Alva-AmcoPharmacal, Inc., Blistex Inc., Aetna Foot Products, Miracle of Aloe, and GlaxosmithklinePlc,.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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