Consumer Affinity toward Lightweight and Comfortable Footwear to Bolster Market Growth
The casual and sports insoles market is currently witnessing significant activity in terms of product development. Owing to rapid penetration of the Internet, consumer awareness related to the benefits of using insoles in casual and sports shoes has increased at a rapid rate. Insoles are increasingly being used by individuals across various age groups as they provide additional comfort. However, insoles are predominantly used to gain relief from chronic foot pain and a range of other foot conditions. The adoption of insoles to prevent foot injuries is on the rise, particularly among customers between 15-54 years of age – a segment within the casual and sports insoles market that is slated to generate revenue of ~US$ 38 billion in 2019.
The demand for insoles, especially for gait control, is on the rise, owing to the advent of cutting-edge insole technology. These technologies are likely to play an imperative role in defining shoe-insole modifications aimed toward fall prevention and enhancing shock absorption. Progress in sensor technology has opened up new avenues for stakeholders in the casual and sports insoles market, who are striving to develop effective products to improve gait control.
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Shock Absorbing Gel Insoles to Gain Significant Popularity
Pressure and impact on the heel can be effectively distributed to prevent soft tissue damage, using gel insoles. Owing to the shock-absorbing capabilities of gel insoles, this segment within the casual and sports insoles market is set to grow 1.7X over the forecast period (2019-2027). Key participants of the casual and sports insoles market are commercially marketing shock absorption technology using materials such as gels. Gel insoles are highly preferred by sportsmen, athletes, regular walkers, and runners, as these activities require high shock absorption. The gel plays a critical role in absorbing the shock generated from intense physical activities, thus preventing foot injuries.
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Despite the impressive growth of gel insoles, foam insoles are forecasted to retain the highest market share in terms of value and volume. The demand for foam insoles is set to grow over the forecast period, as foam insoles are lighter and offer a higher degree of comfort, and significantly reduce foot fatigue over other alternatives. These factors are expected to drive the growth of the foam insoles segment at a healthy CAGR of ~6% during the assessment period.
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Global Casual and Sports Insoles Market: Overview
- According to Transparency Market Research’s latest report on the global casual and sports insoles market for the period of 2019–2027 (wherein, 2019 to 2027 is the forecast period and 2018 is the base year), the global casual and sports insoles market is anticipated to show exponential growth in the coming years, owing to surge in the global demand for sports insoles due to increasing participation in sports activities, and continuous development of new and innovative products in response to changing consumer habits and preferences.
- The global casual and sports insoles market is projected to expand at a CAGR of ~6% over the forecast period.
- As such, the casual and sports insoles market is expected to reach a value of ~US$ 109.4 Bn by 2027.
Increasing Demand for Sports Insoles and Product Awareness: Key Growth Drivers of Casual and Sports Insoles Market
- Athletes and sportspersons always seek products which facilitate high performance and reduce tiredness. As such, sports insoles have been gaining attention from sports players and athletes. Sports insoles help protect the feet by creating a strong barrier between the foot and the ground. These insoles provide arch support, which helps athletes run faster or make swift turns in any sport. Sports insoles have been experiencing a surge in demand across the globe due to these reasons.
- Increasing awareness about the health benefits of insoles is surging the demand for casual insoles across the globe.
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