Tuesday, April 29, 2008
Foot care products are blue chip investments
A report entitled "Foot Care Products: A Global Strategic Business Report" was published recently by Global Industry Analysts, the findings of which indicate over the last decade the demand for foot care products has exponentially increased. According to the report an ageing western population has come to realise care of the feet makes sense and with diseases such as Type II diabetes almost endemic in some populations then it is not a minute before time, some might argue. Ever increasing emphasis on feet au naturelle plus the preoccupation of designers keen to objectify the foot aesthetic have added to increased exposure of the foot with the inevitable outcome the market for foot care products has expanded as consumers desperately seek to beutify their feet and in some cases for overnight foot repair ointments, creams, cleansing lotions and sloughing scrub. According to Global Industry Analysts, Inc., the world market was estimated at $1.4 billion for 2008 and is projected to reach $3.4 billion by 2010. In the US, podiatry services are mainly in the private sector and cater for those with a disposable income. In the UK podiatry is more available to priority groups such as the elderly through the NHS (public service) but demand far exceeds resources. People living with peripheral neuropathy (lack feeling) in the lower leg face the greatest challenge with respect to foot problems. Diabetes and peripheral vascular disease are common in the general population with an estimated 100 million people globally and about 18 million Americans coping with diabetes. Foot ulceration is likely to arise in about 15% of diabetics. According to Global Industry Analysts, Inc. Europe is projected to be the fastest growing regional market for foot care products, during the 2001-2010. Currently Europe, Asia-Pacific and United States dominate the foot care products sector with a combined share of more than 75% for 2008. New products are being launched to accommodate the growing stress or pressure that the foot undergoes on a daily basis. In United States, consumer interest in foot care products such as cleansers, moisturizers, exfoliators and other cosmetic treatments for the feet have prompted suppliers to provide beauty-related foot care products. Moreover, a new trend is being witnessed among women for improving the feet appearance, attributed to growing popularity of open-toe sandals and shoes. According to the report the main industry leaders are: Alva-Amco Pharmacals Inc, Chattem Inc, Combe Incorporated, Del Laboratories Inc, Dr Foot, Dreamyfeet Footcare Products, Foot Express, FootSmart, Freeman Beauty Labs, HoMedics Inc., Implus Footcare, Johnson & Johnson, Miracle of Aloe, Miracle Products Company, Novartis Consumer Health, Paris Presents Inc, PediFix Inc, ProFoot Inc, Revlon Inc, Schering-Plough Corporation, Spenco Medical Corporation, SSL International PLC, W E Bassett Company Inc, and Xenna Corporation.