MARKET NEWS

Affected by the Rise of Niche Brands, Sales Growth of Giant Companies Has Slowed

Foot cream is a product used to care for the feet. It is generally creamy. Its ingredients are not too different from hand creams. They mainly include water, glycerin, moisturizers, preservatives, antioxidants and effective active ingredients, etc, But the keratin of the feet is the thickest part of the body, so the content and ratio of active ingredients will be different. It is not recommended to mix foot cream with care products for other parts of the body. The foot cream contains a variety of natural plant extracts and biologically active cell molecules, which can quickly soften the rough and hard cutin of the foot, remove aging cells, gently massage the feet, and soothe the tiredness of the feet. The method of application is simple. After cleaning the feet, apply the foot cream to the keratinous areas of the feet, and then gently massage for tens of minutes to make the skin soft and delicate. If you soak in hot water before using the foot cream Soften the keratin of the feet, the care effect will be more obvious.

Analysis of the Current Market Situation and Prospect Forecast of the Foot Cream Industry in the United States

The two most prone to skin problems on the feet are the heels and toes. The heel is the contact surface of the shoe. Frequent friction will cause the stratum corneum to become thicker and harder. Allowing it to develop will cause foot cocoons to grow, and in severe cases, it will crack. For most women who wear high heels for a long time, thick yellow calluses of different sizes will grow on the forefoot. This is because the design of high heels causes the body's weight to be concentrated on the forefoot, which is the calluses formed by repeated friction and squeezing. It not only affects the appearance, but also feels pain after being squeezed by external force. Long-term friction and squeezing of the foot skin will also cause the epidermal resistance to decrease, and it will be susceptible to bacterial infections to produce corns. The sandals that people often wear in summer expose their feet directly to the air. On the one hand, skin moisture evaporates faster and the skin becomes dry. On the other hand, exposure to the sun and wind makes the skin of the feet rougher, and the problem of dry skin，In 2020, the proportion is as high as 68.73%, which is the most common problem of the foot. In view of these common foot problems, the foot care creams on the market can be roughly divided into three categories: moisturizing foot cream, preventive foot cream, and exfoliating foot cream. As of 2020, the market share of moisturizing foot cream is 54.18%, ranking first; the market share of exfoliating foot cream is 27.18%, ranking second.

In terms of skin care, the market volume of facial care, hand care, and body care is much larger than that of foot care. These mature markets have relatively stable growth rates and fierce competition. New brands want to develop very much. difficulty. Research data shows that many women have used face care products, hand care products, and body care products, but have never used foot care products. For many women, their feet are far less worthy of investment than their faces. A lot of money and incidents for care. In comparison, the marketing investment of foot care products by companies is far less than that of other body care products, which has further led to people’s perception of foot care being far less popular than facial care and hand care. But this means a huge opportunity for companies, and what the industry giants ignore is exactly where the niche market exists. In recent years, the growth rate of the foot care market has accelerated. As of 2019, the market value was US$194 million. In the future, as women pay more and more attention to body care, the foot cream market is expected to maintain rapid growth in the long term.

The US skin care industry has a relatively high degree of market integration, and industry giants have a long history and enjoy a high reputation in the world. In 2020, the German personal care products giant Beiersdorf Group, which ranks first in terms of foot cream turnover, has a market share of 8.47%. Almost all skin care products have a good market share in nearly two-thirds of the world’s countries and regions. Group CEO Stefan De Loecker said that an additional 300 million euros will be invested in sustainability, digitalization and growth markets in the next five years. In recent years, e-commerce has developed rapidly, and almost all giant companies have accelerated their digital transformation to further expand their influence in key growth markets. Online sales have become an indispensable and important sales channel for enterprises. It is also the rise of e-commerce live sales. Niche brands have begun to enter the eyes of consumers. Faced with the rise of niche brands, many giant companies have seen sales growth. In order to compete with the evolving niche brands, the top brands have continued to focus on important corporate products in the past two years, and have continuously upgraded and optimized them. However, their attention to marginal products such as foot creams has declined. During the epidemic, consumers have been online for an unprecedented length of time, and foot cream companies should seize the opportunity to promote their products.

The Impact of COVID-19 on the U.S. Foot Cream Industry

In 2020, the new crown pneumonia epidemic is raging around the world, the economic situation is complex and severe, and uncertainties are increasing. In order to avoid cross-infection, to prevent cross-infection during the epidemic, different countries have carried out rounds of blockades around the world. And home isolation, people's social activities are basically zero, skin care products are greatly affected, and the sales of many companies have shown a downward trend. The nominal sales of Nivea, an important brand of the Beiersdorf Group, fell by 6.0%. However, as the global epidemic slows down and the vaccination rate of various countries increases, the foot cream industry is on the road to recovery together with the global economy.