Casual and Sports Insoles Market: Introduction
Transparency Market Research delivers key insights on the
global casual and sports insoles market. In terms of revenue, the global casual
and sports insoles market is estimated to expand at a CAGR
of ~6% based on value during the forecast period, owing to numerous
factors, regarding which, TMR offers thorough insights and forecasts in the
global casual and sports insoles market report.
In this market report, TMR predicts that, significant growth
in the participation in sports and increasing foot-related health issues across
the globe are anticipated to boost the casual and sports insoles market.
Increase in the geriatric population coupled with increasing incidence of
plantar fasciitis and diabetes is surging the demand for casual insoles.
Additionally, increasing demand for customized insoles that are made after
complete evaluation of the consumer’s foot structure is boosting the global
market of casual and sports insoles. Countries in Asia Pacific are major
consumers of casual insoles, and the market in the region is anticipated to
show significant growth in the coming years. In addition, technological
developments are improving the features of products, which influences their
efficiency. This is also expected to accelerate the growth of the casual and
sports insoles market in the coming years.
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However, the growing market of counterfeit insoles is
affecting the demand for casual and sports insoles. The growth of counterfeit
products is mostly being observed in developing countries, where a large number
of consumers are driven by the logo of a brand and product cost. The
counterfeit products market is the major restraining factor that casual and
sports insoles manufacturers have to deal with. This factor is anticipated to
hamper casual and sports insole companies in terms of cost in the long run, and
is expected to be a key restraining factor for the growth of the global casual
and sports insoles market.
Increasing demand for sports insoles owing to their benefits
such as reduction in tiredness and arch support, which helps athletes run
faster and make them agile while making turns while playing a sport, is
influencing the overall casual and sports insoles market positively. Product
innovation and technological advancements are also supporting factors for the
growth of the casual and sports insoles market.
According to the report, based on product, the foam insoles
segment dominated the global casual and sports insoles market, and is
anticipated to retain its share in the coming years. Many varieties and
features of insoles are a major driving factor of the foam insoles market.
However, the gel segment is also becoming popular in the market and is expected
to expand at a significant rate. In terms of socioeconomic class, the middle
class segment holds a major share in the global casual and sports insoles
market. Growth in the middle class population across the globe and rise in
disposable income are factors surging the demand for insoles. Increasing income
is also fuelling the demand from the upper class populace, which is expected to
show significant growth rate during the forecast period.
In terms of gender, the male segment dominated the global
market. Compared to females, males purchase more casual & sports insoles,
as the obesity rate is higher in males as compared to females. However,
increasing participation of women in sports is surging the demand for insoles
and increasing the share of the female segment. In terms of age, consumers aged
15 to 54 years dominate the global market. Increasing population of people
between 15 and 54 years has resulted in the growing demand for casual and
sports insoles. Consumers above 15 years of age majorly prefer these products,
since they participate in various physical activities.
Casual and Sports Insoles Market: Prominent Regions
Asia Pacific dominated the global casual and sports insoles
market, followed by Europe and North America. Globally, the Asia Pacific region
held a dominant position, and is anticipated to retain its top position in the
near future. Growing demand in several emerging countries and increasing population,
coupled with rising disposable income is driving the regional casual and sports
insoles market in the Asia Pacific region. The market in Europe and North
America is also showing significant growth, owing to increasing product
awareness and demand for sports insoles. The market in the Middle East &
Africa and South America is expected to experience moderate growth during the
forecast period. Slow economic growth in several countries is a major hindrance
to the casual and sports insoles market in these regions.
Casual and Sports Insoles Market: Key Players
Key players operating in the global casual and sports
insoles market include Aetrex Worldwide, Inc., Currex GmbH, Footbalance
System Ltd., FAES FARMA, Gravitus, Implus Footcare LLC., Powerstep, Protalus,
Superfeet Worldwide, Inc., and Sorbothane Incorporated.
Global Casual and Sports Insoles Market: Segmentation
Casual and Sports Insoles Market by Product
- Gels
- Foams
- Plastics
- Submerged
Bed Filters
- Others
(Sponge Filters, Bead Filters, Fluidized Bed Filters, etc.)
Casual and Sports Insoles Market by Socioeconomic Class
- Lower
Class
- Middle
Class
- Upper
Class
Casual and Sports Insoles Market by Gender
- Male
- Female
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Casual and Sports Insoles Market by Age
- 0 –
14 Years
- 15 –
54 Years
- 55
Years and More
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