by Foot creams and lotions have various beneficial properties that help keep the skin of the feet smooth and protected. They contain moisturizing ingredients like shea butter, coconut oil, and paraffin that penetrate deep into the skin to hydrate and nourish it. Several foot creams contain keratolytic agents that help shed off dead skin cells and unclog pores. Standing on feet all day long can lead to dry, cracked heels and calluses. Using foot creams regularly helps soften the rough patches and prevents cracking. They also have anti-fungal and antibacterial properties to prevent infections in the feet. The global foot creams and lotions market is driven by a rising prevalence of foot problems like plantar fasciitis, athletes foot, heel spurs, ingrown toenails due to prolonged standing, obesity, and lack of physical activities.
The global Foot Creams and Lotions Market is estimated to be valued at US$ 3.51 Bn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the foot creams and lotions market is the growing demand for natural and organic products. Consumers are increasingly preferring products made from natural ingredients like essential oils, plant extracts, and vitamins over synthetic or artificial ingredients due to rising health consciousness. Manufacturers are emphasizing on natural extracts of aloe vera, tea tree oil, peppermint, lemon, and coconut which have anti-fungal, anti-inflammatory and moisturizing properties. They are removing parabens, sulfates, phthalates, and other harsh chemicals from their formulations. The natural and organic segment is expected to register strong growth during the forecast period.
Porter’s Analysis:
Threat of new entrants: Low. The foot creams and lotions market is well established with large players dominating the market. The high overall costs of R&D and marketing makes the entry difficult for new players.Bargaining power of buyers: Moderate. The buyers in this market comprise individuals and dermatologists. There are a wide range of foot creams and lotions available from various brands offering differentiated products. Threat of substitutes: Moderate. While there are few substitutes available, some alternatives like aloe vera gel, coconut oil are used for similar purposes.Bargaining power of suppliers: Low. The raw materials used in foot creams and lotions such as oils, extracts, preservatives have many suppliers globally. This reduces their individual bargaining power.Competitive rivalry: High. The market is fragmented with presence of several global as well as local brands. Players compete based on product efficacy, pricing and marketing.
Key Takeaways:
The Global Foot Creams And Lotions Market Size is expected to witness high growth over the forecast period.
Regional analysis: North America region currently dominates the global foot creams and lotions market accounting for around 35% of the total share in 2023. This is attributed to growing awareness regarding foot care. Asia Pacific region is expected to witness fastest growth over the forecast period due to increasing disposable incomes in countries like India and China.
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, Eucerin. Players focus on expanding their product lines and strengthening distribution channels to consolidate their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
