The sports & athletic insoles market is anticipated to reach a valuation of US$ 7,735.7 Mn in 2021 at a CAGR of around 7.0 percent, according to a recent analysis by Future Market Insights (FMI).
The market for sports & athletic insoles has altered and been revolutionized by consumers’ propensity to live a greener lifestyle. The players are now equally focused on building a brand reputation in the eyes of environmentally conscious consumers, in addition to product-related technical developments.
The players are investing in environmentally friendly materials for their production to meet their obligations for the products that align with their strategy for ensuring minimal environmental impact.
Additionally, these products are advertised in a different way than the market’s conventional shoe insoles. Some of the claims made to promote these inserts include being eco-friendly, vegan, and sustainable.
In addition, to compete more effectively in the market, several manufacturers have adopted a comparative strategy in which the performance, durability, and environmental impact of eco-friendly shoe insoles are compared to those of standard insoles. During the forecast period, market growth is anticipated to be fueled by the companies’ adoption of such initiatives.
Key Takeaways from the Sports & Athletic Insoles Market Study
The market for sports & athletic insoles is growing quickly. The needs of the end user are taken into account when players offer customized solutions.
As for the sales channel, given how well the digital ecosystem is doing, online retail sales are anticipated to rise significantly over the next few years.
By 2021, over 70% of sales in North America will take place in the U.S., making it a highly lucrative market for sports & athletic insoles.
The sale of sports insoles in Europe is projected to see strong growth in Italy, France, and Spain.
Despite China’s dominance, South Korea and Japan will have faster growth in the market for sports and athletic insoles throughout the assessment.
To attract customers, the companies now in operation in the sports and athletic insoles market are introducing unique features and functionalities that offer better water resistance, antimicrobial qualities, improved moisture management, and lightweight design, among other things. According to an FMI analyst, such tactics will help the firms obtain a competitive edge in the market.
Market Analysis of COVID-19 and 2020’s Effect
The virus was spreading to lower-income nations even as the rich world gradually emerged from the epidemic phase. In recent months, the market’s choices for sales channels and product demand were significantly impacted by the pandemic outbreak.
Due to disruptions in supply and demand, the market did face a downturn, but the lockdown’s softening measures have already transitioned it into a recovering phase. The players are currently making adjustments to fit the new phase of a resurgent market.
Who is winning?
There are several major companies in the sports and athletic insoles market, including Aetrex Worldwide, Inc., Invent Medical Group, s.r.o. (8 Sole), Materialize Phits Insoles, AF Group, ALINE Systems, Inc., ARNEPLANT, S.L, Bauerfeind, Birkenstock USA, Currex GmbH, Diafarm Laboratories (None), Foot Science International, Footbalance System Ltd., Guangzhou Shiny
The market’s participants are taking steps to increase their digital penetration. In addition, they place a strong emphasis on research & development to broaden their product offerings and better meet the changing demands of their customers.
Market by Category
By Base Material Type:
- Carbon Fiber
By Size (U.S.) (% of Demand):
- 4 – 5
- 6 – 7
- 8 – 9
- 10 – 11
- 12 – 13
By Consumer Orientation:
By Sales Channel:
- Direct Sales
- Indirect Sales
- Departmental Stores
- Specialty Stores
- Multi-brand Stores
- Exclusive Stores/Franchised Stores
- Online Retailers
- Other Retail Channels
- North America
- Latin America
- East Asia
- South Asia
- the Middle East and Africa (MEA)