PUBLISHER: KBV Research | PRODUCT CODE: 1385032
PUBLISHER: KBV Research | PRODUCT CODE: 1385032
The Global Shoe Insoles Market size is expected to reach $8 billion by 2030, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,16,593.9 thousand units, experiencing a growth of 4.8% (2019-2022).
Rubber is a robust and long-lasting material. Rubber insoles can withstand daily wear and tear, making them a durable choice for consumers. This durability appeals to individuals looking for insoles that will last over time, potentially reducing the frequency of replacements. Therefore, the rubber segment captured $861.0 million revenue in the market in 2022. Rubber has natural shock-absorbing properties. Rubber insoles can help cushion the feet and absorb impact when walking or running. This makes them popular among athletes and individuals engaged in physical activities, contributing to the sports and fitness segment of the market. Rubber provides excellent traction, reducing the risk of slipping inside the shoe. Some of the factors impacting the market are rising foot health awareness among the general public, expansion of athletic and fitness activities, and supply chain disruptions.
Increasing awareness of the importance of foot health is a significant driver. Consumers are more informed about foot conditions, proper foot support, and the role of insoles in alleviating foot pain and discomfort. As people become more aware of common foot problems and the benefits of proper foot support, the demand for shoe insoles corresponds. Consumers actively seek solutions to alleviate foot pain, discomfort, and fatigue. Additionally, the popularity of sports and fitness activities drives demand for insoles that enhance athletic performance, decrease the risk of injuries, and provide comfort during physical activities. Athletic insoles are designed to optimize the biomechanics of the feet during physical activities. They can improve stability, balance, and shock absorption, enhancing athletic performance. Runners, for example, use insoles to increase running efficiency. The demand for insoles that improve performance is projected to rise as more individuals participate in sports and fitness activities.
However, many manufacturers in the market source raw materials, components, or even finished products from various countries. This global supply chain can be vulnerable to disruptions caused by geopolitical events, trade tensions, and changes in global regulations. Transport and logistics disruptions, such as port delays, cargo container shortages, and transportation strikes, cause delays in the dispatch of raw materials and finished products. These delays can impact production schedules and lead to inventory shortages. This can result in frustration and reduced customer satisfaction. Supply chain disruptions pose substantial challenges to the market.
End-Use Outlook
On the basis of end-use, the market is divided into men and women. The men segment garnered a significant revenue share in the market in 2022. Many men choose specialist shoe insoles that can offer targeted support and comfort for foot conditions due to the expanding prevalence of foot issues like plantar fasciitis, flat feet, and various types of foot pain. The advancements in technology and materials science have led to the creation of innovative and customizable insole solutions that appeal to individual foot shapes and arch types.
Application Outlook
By application, the market is categorized into casual, athletic, and orthotics. In 2022, the orthotics segment held the highest revenue share in the market. This segment's growth is driven by rising consumer awareness of the benefits of custom orthotics. Custom orthotics provide additional cushioning, support, and pressure redistribution, making them particularly beneficial for individuals with arthritis or those who stand for a prolonged duration at work. Orthotics insoles are also commonly used to prevent diabetic foot abnormalities and pressure ulcers, contributing to the segment's sustained growth over time.
Price Outlook
By price, the market is fragmented into economy, medium, and premium. The medium segment recorded a remarkable revenue share in the market in 2022. This is due to a growing demand for insoles that provide a decent balance of affordability and quality. Medium-priced insoles are typically constructed from natural materials and are more resilient than inexpensive ones. They can be comfortable and offer decent arch support, and they might also include extra characteristics like moisture-wicking or shock absorption.
Material Outlook
Based on material, the market is classified into foam, gel, rubber, plastic, carbon fiber, polyurethane, and others. In 2022, the foam segment witnessed the largest revenue share in the market. Many individuals favor high-density polyurethane foam insoles due to their exceptional support and pressure relief. The chemical composition of the foam also provides potential medical benefits for foot comfort. Additionally, the density of the foam gives the shoes bounce and comfort. Foam insoles are popular for being lightweight, making them an attractive choice for people looking for breathable and lightweight shoe insoles. This is especially essential for athletes, fitness enthusiasts, and individuals who are for extended periods on their feet.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. Asia Pacific region is home to a large and rapidly growing population. As the population expands, so does the potential consumer base for shoe insoles. A larger population means a larger demand for footwear and related products. The Asia Pacific region has seen a surge in interest in sports and fitness activities. This has boosted the demand for athletic insoles that enhance performance, reduce the risk of injury, and provide comfort during exercise.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Foot Science International Ltd, Stable Step, LLC, SOLO Laboratories, Inc., Spenco (Implus Footcare, LLC), Texon International Group Limited (Coats Group plc), Footbalance System Oy, Currex LLC, Sidas S.A.S, Bauerfeind AG, and Superfeet Worldwide, LLC (Westward Partners LLC)
Market Segments covered in the Report:
By End-use (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Application (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Price (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Material (Volume, Thousand Units, USD Billion, 2019 to 2030)
By Geography (Volume, Thousand Units, USD Billion, 2019 to 2030)
Companies Profiled
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