In the United States, the demand for Shoe Inserts is projected to experience steady growth with a Compound Annual Growth Rate (CAGR) of 4.4%, driven by a growing focus on personal health and well-being among consumers. The presence of favorable patient reimbursement plans in the country is further contributing to the increased sales of orthopedic insoles.
The rising prevalence of lifestyle-related disorders, such as diabetes and obesity, has prompted consumers to prioritize personal fitness and engage in outdoor recreational activities. As foot comfort is essential during these pursuits, the demand for casual and sports shoe inserts is on the rise.
According to FMI’s analysis, the United States market is expected to present a significant absolute dollar opportunity of US$ 3,083 million over the forecast period. This substantial opportunity reflects the growing awareness of foot health and the importance of comfortable shoe inserts in enhancing overall well-being among consumers.
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The shoe insert market is predicted to be worth US$ 42.38 billion in 2023, and rise to US$ 71.68 billion by 2033. Initially, the global market was expanding at a CAGR of 4.3% between 2018 and 2022.
This market expansion is primarily attributed to an increase in consumer knowledge of the health advantages of shoe inserts. Increased foot and posture-related issues, as well as a growth in the demand for personalized shoe inserts, all contribute to a great market share.
The growing trend towards producing shoe inserts from biodegradable and eco-friendly materials is anticipated to fuel market expansion. Demand for shoe inserts is rising as a result of the advent of technologically improved products that offer support and comfort for the arch.
It is also anticipated that the market is likely to benefit from the rising demand for orthopedic shoe inserts, particularly among senior individuals who experience joint discomfort and arthritis.
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However, it is anticipated that the market’s expansion is hampered by the high price of shoe inserts. Also, market expansion may be constrained by the availability of fake goods that don’t offer enough comfort and support. It is projected that the introduction of products made in order to meet specific needs opens up profitable market potential.
Key Takeaways
- In 2022, China grew significantly in the shoe insert market, with a share of 34.9%.
- The shoe insert market was significantly expanding, with a size of US$ 40.5 billion in 2022.
- There is a Y-o-Y growth of 5.6% between 2022 and 2023, which is driven by the popularity of 3D-printed shoe inserts.
- With a 69.8% share in 2022, the market in the United States showed signs of growth.
- In 2022, India grew steadily in the shoe insert market, with a share of 29.5%.
- In 2022, Japan grew significantly in the shoe insert sector, with a share of 32%.
- With a 19.9% market share in 2022, Germany had strong growth in the shoe insert sector.
- With a share of 44% in 2022, the orthotic insole category is predicted to dominate the market in terms of product type.
- Based on material type, rubber is likely to continue dominating the sector during the forecast period, with a share of 26%.
Key Strategies in the Industry
Key players including Superfeet, Otto Bock SE & Co KGaA, Diafarm Laboratories, Texon International Group Limited, and Implus Footcare LLC compete for market share in the highly competitive worldwide shoe inserts business.
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To achieve a competitive edge, these businesses are concentrating on product innovation, strong marketing plans, and partnerships with footwear brands. Players are also forming strategic relationships with other businesses to broaden their product offerings.
Also, businesses are spending money on research and development initiatives to create new products and acquire a competitive edge. Players are also concentrating on expanding their presence through alliances, synergies, and acquisitions.
Key segments
By Material Type:
- Polymer
- Plastic
- Rubber
- Carbon Fiber
- Silicon
By Product Type:
- Casual Insole
- Sports/Athletic Insole
- Orthotic Insole
- Safety Insole
By Size (US):
- 4 to 5
- 6 to 7
- 8 to 9
- 10 to 11
- 12 to 13
By Consumer Orientation:
- Men
- Women
- Kids
By Sales Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Departmental Stores
- Specialty Stores
- Multi-brand Stores
- Exclusive Stores/Franchise Stores
- Online Retailers
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding China & Japan
- Japan
- China
- Middle East & Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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