In a recent study Future Market Insights (FMI) has forecast that the shoe insert market is expected to grow at an impressive pace driven by ongoing trends in fashion. Consumers around the world are seeking out brands offering amalgamation of latest style, technologies, and heightened comfort. This has been creating lucrative prospects for the shoe insert manufacturers.
With consumers leaning towards a greener lifestyle, players are now looking to gain goodwill by offering environmentally sensitive shoe inserts to users. Keeping the environmental factors in mind, players are now searching for eco-friendly alternatives for their shoe insoles.
Greater focus on sustainability is expected to pave way for significant changes within the market. For instance, shoe insert producers are focusing on repurposing and recycling their products once they are past their lifetime. Besides this, innovation of sustainable shoe inserts made from environmentally-friendly materials using eco-friendly production methods are in high demand.
Spurred by the aforementioned factors, the shoe insert market is likely to rise at 5.4% CAGR between 2020 and 2030. According to FMI, despite a brief period of declining growth due to the unprecedented COVID-19 outbreak, the market is expected to pick up pace, reaching above US$ 61 Bn in valuation by the end of 2030.
The report offers comprehensive market overview intended to help stakeholders gauge investment feasibility across key segments. Some of the key takeaways from the report are highlighted below.
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Orthotic Insole Sales Pushing Growth Opportunities
Surging demand for orthotic insoles has been aiding the expansion of the global market. Orthotic insoles are considered highly sophisticated shoe inserts that are constructed within multiple layers of advanced materials. These inserts have an anatomical arch that helps the foot to sit in a correct position.
Orthotic insoles or shoe inserts are designed to ensure optimal arch support to wearers, keeping their foot in neutral position aligned to the body and preventing excessive pronation. The number of people requiring additional support is surging persistently and shoe insert manufacturers are unlikely to let this opportunity go.
To reach their target consumers, manufacturers are ascertaining their widespread online presence. Some are even offering scanning technologies that claim to help a prospective buyer in correctly measuring foot and recommending specific types of shoe insert as per their needs.
These developments are seen as key opportunities, which are likely to enable growth in the global market in the coming years.
Surging Demand from Sports Community
Sports person and atheletes always look for products that will facilitate their performance and ensure they get less tired. Sports shoe inserts have been gaining significant traction among the community, which is expected to bode well for the global market.
Research evidences affirming that inserts help in reducing or preventing movement related injuries have made them highly sought-after in the sports and athletics community. Besides this, one of the key reasons to wear insole is to prevent development of any kind of foot disorders. Insoles are known to have the ability to absorb pressure, be it while standing, walking, running, or during any sports activities.
Wearing shoe inserts therefore supports healthy lifestyle without worrying to develop conditions such as Plantar Fasciitis. Thanks to recent advancements in technologies, shoe inserts are manufactured with greater impact protection. Spurred by these factors, the shoe insert market is expected to witness impressive growth in the coming years.
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Key Takeaways from the Shoe Insert Market Analysis:
- Among distribution channels, online retail sales are expected to grow at a rapid rate in the forthcoming years owing to the rapidly changing digital ecosystem
- The rising demand for orthotic insoles has made sports and athletics community a key segment for the market
- East Asia is expected to continue dominating the market through the forecast period. However, growth witnessed in South Asia is expected to be higher
- Silicon is expected to remain highly preferred as material used for manufacturing insoles
- Demand from women segment in terms of consumer orientation is forecast to rise immensely
Who is Winning?
Some of the key players in the shoe insert market are Texon International Group Limited, Diafarm Laboratories, Aetrex Worldwide Inc., Aline Systems Inc., Currex GmbH, Implus Footcare LLC. Companies operating in the market are focusing on innovations to gain competitive advantage. Some are even offering smart shoe inserts, aligned with a smartphone app to help wearers keep track of their health. As competition gets fiercer an increasing number of companies are expected to invest in research and development, which will drive the market in the coming years.
Base Material Type
- Carbon Fibre
- Casual Insole
- Sports/Athletic Insole
- Orthotic Insole
- Safety Insole
Size (US) (% of Demand)
- Departmental Stores
- Specialty Stores
- Multi-brand Stores
- Exclusive stores/Franchise stores
- Online retailers
- Other sales channel
- North America (US, Canada)
- Latin America (Brazil, Mexico, Argentina, and the rest of Latin America)
- Europe (Germany, Russia, Italy, France, U.K, Spain, BENELUX, Nordic, Poland, and the rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia, Vietnam, and the rest of South Asia)
- East Asia (China, Japan, South Korea)
- Oceania (Australia, New Zealand)
- MEA (GCC Countries, Turkey, Northern Africa, South Africa)
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.
Mr. Debashish Roy
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