Insoles Market Create an Absolute Opportunity of Around US$ 19.5 Bn Till 2021 to 2031

As per the latest revised report published by Fact.MR, the global insoles market is expected to be a lucrative space, and is anticipated to surpass a valuation of US$ 70 Bn by the end of 2031. Foam insoles are set to lead the way and capture one-third market share through 2031.

Increasing awareness on foot safety and growing foot-related diseases in the Gen-x has been a major cause surge the demand for insoles. Sporting and therapeutic segments are the major growth contributors to the market.

Key players in the market are extensively investing in developing highly ergonomically insoles to reduce foot impact during dynamic activities. This is being achieved through highly advanced foot scanning machines that have been newly introduced into the market. As such one’s foot can be easily scanned and converted into a three-dimensional model, which can be further be used to manufacture highly accurate insoles. Using such strategies market players are easily attracting newer customers, thus contributing to overall growth of the market.

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Key Takeaways from Market Study

• The insoles market is anticipated to add 1.7X value by 2031.
• Foam insoles capture a major chunk, equivalent to more than one-third of the global market share, and are set to create an absolute $ opportunity of around US$ 19.5 Bn over 2021-2031.
• Among the applications, sports has been the fastest-growing segment, owing to rising consumption of insoles by premium sports shoes users.
• East Asia is set to dominate market revenue in 2021, and is expected to gain 226 BPS by 2031.
• The market in China and Germany is expected to rise at a CAGR of more than 8% each by the end of 2031.
• Due to the COVID-19 crisis, demand for insoles was hit in 2020, which saw a decline of 7% over the 2nd and 3rd quarters.

“High R&D spending in developing advanced scanning systems for insole designing will aid market growth over the coming years,”says a Fact.MR analyst.

Report Benefits & Key Questions Answered

• Insoles Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
• Insoles Market Historical volume analysis: The report provides a comparison of   Insoles Market historical sales and projected sales performance for 2021-2031.
• Insoles Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the   Insoles Market It carefully gauges the impact of changing healthcare needs of key demographics globally
• Insoles Market Consumption by demographics: The report investigates consumer behavior affecting the   Insoles Market demand outlook for the assessment period. Effect of their keenness for digital trends on   Insoles Market is  carefully analyzed
• Post COVID consumer spending on Insoles Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. It assesses how current trends that will influence expenditure on healthcare services, thus affecting   Insoles Market growth.

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