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.
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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.
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
“Companies operating in the shoe insert market are offering smart technologies. Established players are specifically expected to focus on research and development as local players continue giving tough competition,” said a lead analyst at FMI.
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.
Valuable Insights into the Shoe Insert Market:
In this analysis, FMI provides an insight into the global shoe insert market by providing historical data from 2015-2019 and an opportunity assessment from 2020-2030. This analysis reveals note-worthy insights on the shoe insert market based on the product type (casual insole, athletic insole, orthotic insole, and safety insole), product material type (polymer, rubber, plastic, carbon fiber, and silicone), type (edible and non-edible), material type (rubber, cotton, nylon, plastic, and others), U.S size (4-5, 6-7, 8-9, 10-11, and 12-13), consumer orientation (men, women, and kids), and sales channels (direct and indirect) across seven major regions.
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