Sports and Sports Insoles Market Expected to Grow at a CAGR of 7.7% During the Period 2021-2031 – Market Research Blog
Future market outlook: the sports and athletics soles market is expected to post a healthy 7.7% CAGR for the projection period from 2020 to 2030. While the increase in the elderly population will generate key growth opportunities, high inventory turnover of sports insoles will limit profits and loss. growth of manufacturers. To optimize market opportunities, suppliers are more likely to focus on the growth prospects of fast-growing segments, while consolidating their positions in others.
“More and more people have started to participate in sports or physical activities such as walking, running, jogging and hiking to improve their fitness and productivity. Supportive insoles can help minimize injury, properly align joints, limbs, ligaments and muscles, in addition to improving the functions of body parts, ”says the IMF study.
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Sports and Athletics Insoles Market – Important Points to Remember
- Silicone insole products have a large market share due to their cost and superior shock absorption characteristics.
- Indirect online sales channels reflect a high growth rate supported by greater access to products and discounts for consumers.
- North America, led by the United States, is the primary market for sports and athletics insoles, thanks to relatively higher investments in R&D and technological advancements.
Sports and Athletics Insoles Market – Driving Factors
- The increasing adoption of prefabricated custom insoles for athletic applications creates key growth opportunities.
- Favorable reimbursement policies for insoles for preventive and curative care are driving demand.
Sports and Athletics Insoles Market – Main Constraints
- The higher costs associated with sports and athletic insoles compared to conventional products are a major barrier to adoption.
- The potential side effects of foot pain with long term use is a major challenge that is hurting sales prospects.
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Expected impact on the market by coronavirus epidemic
The global covid-19 virus pandemic has moderately impacted the operations of players in the sports and athletics insoles market. Global concerns over viral transmission and restrictions on outdoor activity lockdowns following the outbreak have hampered demand for sports and track insoles.
In addition, supply chains have been affected during the pandemic and the labor shortage during the crisis period are key factors that are likely to impact the market in the short term. However, higher levels
Health awareness among consumers over the has driven the demand for fitness solutions, which will contribute to a faster recovery and long term growth in the industry.
Some of the major players participating in the sports and athletic insole market are Aetrex Worldwide, Inc., Footbalance System Ltd., FAES FARMA, Gravitus, Protalus, Currex GmbH, ImplusFootcare LLC., Powerstep, Superfeet Worldwide, Inc., Sorbothane Incorporated. among others
Players in the sports and athletic insoles market are heavily involved in product development and launch strategies in addition to strategic collaborations for geographic expansion to strengthen their positions in a rapidly growing market.
For example, Plantiga Technologies announced its partnership with Original Footwear, with the aim of including Plantiga’s sensor-infused insoles in the Original Footwear product portfolio. EA has partnered with Adidas and Google for the development and launch of a smart shoe insole, which can be used for rewards in Fifa Mobile. Porcher Sport has announced the launch of thermoplastic insoles for custom footwear for a wider range of applications in different shoe models.
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Technology plays an essential role in the manufacture of soles, as it guarantees the quality and precision of the manufacturing process. Nowadays, many sole manufacturers invest more in robotic technology, which helps to reduce the risk of error and also guarantees the quality of the product supplied to its customers.
In addition, to compete with other players in the years to come, being technology-driven will help manufacturers reduce product cost and deliver better products in less time.
Market by category
By type of base material:
- Carbon fiber
By size (United States) (% of demand):
- 4 – 5
- 6 – 7
- 8 – 9
- 10 – 11
- 12 – 13
By consumer orientation:
By sales channel:
- Direct sales
- Indirect sales
- Hypermarkets / Supermarkets
- Department stores
- Specialty stores
- Multi-brand stores
- Exclusive stores / franchise stores
- Online Retailers
- Other retail channels
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)