The sports & athletic insoles market is predicted to achieve a valuation of US$ 7,735.7 Mn in 2021, according to a recent analysis by Future Market Insights (FMI), with a CAGR of over 7.0 percent.
The market for sports and athletic insoles has altered and transformed due to consumers’ desire to live a greener lifestyle. Aside from product-related technological advancements, the players are now equally focused on developing brand reputation among environmentally conscious consumers.
Players are investing in eco-friendly materials for their production in order to meet product-related commitments that align with the strategy for ensuring low environmental effect.
In addition, these items are promoted differently than standard shoe insoles on the market.
Eco-friendly, vegan, and sustainable are just a few of the promises made to promote these inserts in the market.
Apart from this, many players have adopted a comparative strategy wherein the eco-friendly shoe insoles are compared to the traditional insoles on the basis of performance, durability and environmental impact in order to gain more attraction in the market. Adoption of such strategies by the players is projected to fuel market growth during the forecast period.
Key Takeaways from the Sports & Athletic Insoles Market Study
- The sports & athletic insoles market is expanding at a rapid pace. Players are providing customised solutions considering the end user requirements.
- In case of sales channel as the digital ecosystem is thriving the online retail sales are expected to register a significant growth in the coming years.
- The U.S. will emerge as a highly lucrative market for sports & athletic insoles, accounting for nearly 70% of sales in North America in 2021.
- Italy, France, and Spain are likely to emerge as highly lucrative markets for sales of athletic insoles within Europe.
- Despite China’s dominance, the demand for sports and athletic insoles will increase at a higher pace in South Korea and Japan over the assessment period.
“The players currently operating in the in the sports & athletic insoles industry are incorporating special features and functions to offer greater water resistance, antimicrobial properties, improved moisture management, and lightweight design among others to woo consumers. Such strategies will help the players to gain a competitive advantage in the market,” says an FMI analyst.
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Impact of COVID-19 & 2020 Market Analysis
As the developed world is slowly exiting from the pandemic phase the virus continuous to take hold in the lower income countries. The pandemic outbreak had a significant impact on sales channel preferences and product demand in the past few months in the market.
The market did experience a slowdown due to demand and supply disruptions however the lockdown relaxing measures has now brought the market from slowdown to a reviving phase. The players are now undertaking efforts to adapt to the new reviving market phase.
Who is winning?
Few key players in the sports & athletic insoles market are Aetrex Worldwide, Inc., Invent Medical Group, s.r.o. (8 Sole), Materialise Phits Insoles, AF Group, ALINE Systems, Inc., ARNEPLANT, S.L, Bauerfeind, Birkenstock USA, Currex GmbH, Diafarm Laboratories (Noene), Foot Science International, Footbalance System Ltd., Guangzhou Shunyang SM Co Ltd., Implus LLC, Ottobock Holding, Peacocks Medical Group, Reckitt Benckiser (Scholl), RSscan Lab Ltd., Sorbothane, Incorporated, SUPERFEET WORLDWIDE, Inc., Texon International Group Limited, Wiivv Wearables Inc., and Digitsole among others.
The players in the market are undertaking initiatives to widen their digital penetration. Besides this, they are highly focused on research and development with an aim to expand their offerings that could best match the dynamic needs of the users.
Get Valuable Insights into Sports & Athletic Insoles Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global sports & athletic insoles market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the sports & athletic insoles market based on the material type (polymer, plastic, rubber, carbon fibre, and silicone), size US (% of Demand) (4-5, 6-7, 8-9, 10-11, and 12-13), consumer orientation (men, women, and kids), and sales channel (direct and indirect) across seven major regions.
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Market by Category
By Base Material Type:
- Polymer
- Plastic
- Rubber
- Carbon Fiber
- Silicone
By Size (U.S.) (% of Demand):
- 4 – 5
- 6 – 7
- 8 – 9
- 10 – 11
- 12 – 13
By Consumer Orientation:
- Men
- Women
- Kids
By Sales Channel:
- Direct Sales
- Indirect Sales
- Hypermarkets/Supermarkets
- Departmental Stores
- Specialty Stores
- Multi-brand Stores
- Exclusive Stores/Franchised Stores
- Online Retailers
- Other Retail Channels
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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