Foot Creams and Lotions Market is Estimated To Witness High Growth Owing To Increasing Skin Care Awareness
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| Foot Creams and Lotions Market |
The global Foot Creams and Lotions Market is estimated to be valued at US$ 3.51 billion in 2022 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Foot creams and lotions are widely used for foot care and moisturization. They help relieve dry, cracked, and callused skin by hydrating and softening the skin on feet. Their regular application prevents skin issues and odor.
Market key trends:
One of the key trends in the foot creams and lotions market is the increasing demand for natural and organic products. Consumers are more inclined towards natural ingredients such as aloe vera, jojoba oil, shea butter etc. due to rising awareness about harmful chemicals in conventional cosmetics. They offer anti-inflammatory and moisturizing properties without negative health effects. Another major trend is multi-functional foot creams incorporated with ingredients like menthol, peppermint, tea tree oil etc. to treat conditions like athlete's foot and cracked heels along with moisturization.
Segment Analysis:
The foot creams and lotions market can be segmented into medicated and non-medicated. The non-medicated sub-segment currently dominates the market, accounting for around 65% share. This is because non-medicated foot creams do not contain any active ingredients and are suitable for general moisturizing and softening of feet. However, the medicated sub-segment is expected to witness higher growth during the forecast period driven by increasing cases of foot problems like dry, cracked heels and calluses due to long working hours and outdoor activities.
Key Takeaways:
The global Foot Creams and Lotions Market Insights is expected to witness high growth, exhibiting CAGR of 9.6% over the forecast period, due to increasing physical activities and growing awareness about foot health and care.
Regional Analysis:
North America currently leads the global foot creams and lotions market, accounting for around 40% share followed by Europe and Asia Pacific. Presence of leading players and higher disposable incomes have contributed to North America's dominance. However, Asia Pacific is anticipated to emerge as the fastest growing regional market during the forecast period supported by burgeoning middle class population and rising health consciousness in major economies like China and India.
Key Players:
Key players operating in the foot creams and lotions market are Johnson & Johnson, Bayer AG, GlaxoSmithKline Plc, Baby Foot, Sanofi S.A., Grace & Stella Co., PediFix Inc., Alba Botanica, Tony Moly Co. Ltd., Aveeno, Bio-Oil, Dr Teal's, Bath & Body Works, The Body Shop, Nivea, O'keeffe's, L'Occitane, La Roche-Posay, CeraVe, and Eucerin. Product innovation and expanded regional presence are some of the strategies adopted by key players to strengthen their market position.
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