Press release
Foot Orthotic Insoles Market to Expand at a Healthy CAGR of 7% through 2031
Insoles Market
The global market for insoles is anticipated to grow at more than 7% CAGR throughout the forecast period. The increase is taking place owing to the demand for the 3D printed insoles, which are customized mainly to cater to the specific requirements of the consumers. The manufacturing of 3D printed insoles is increasing over the past few years, thus pushing the overall demand for the insoles market.
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Key Highlights from the Foot Orthotic Insoles Report :
• Elaborated scenario of the parent market
• Transformations in the Foot Orthotic Insoles market dynamics
• Detailed segmentation of the target market
• Historical, current and forecast of Foot Orthotic Insoles market size based on value and volume
• Latest industry developments and Market trends of Foot Orthotic Insoles
• competitive analysis of Foot Orthotic Insoles Market
• Strategies adopted by the Foot Orthotic Insoles market players and product developments made
• Potential and niche segments, along with their regional analysis
• Unbiased analysis on market size of Foot Orthotic Insoles
• Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Some of the Foot Orthotic Insoles Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
• Details regarding latest innovations and development in Foot Orthotic Insoles and how it is gaining customer traction during the forecast period.
• Analysis about the customer demand of the products and how it is likely to evolve in coming years.
• Latest regulations enforced by government bodies and local agencies and their impact on Demand of Foot Orthotic Insoles Market .
• Insights about adoption of new technologies and its influence on the Foot Orthotic Insoles market Size.
• Overview of the impact of COVID-19 on Foot Orthotic Insoles Market and economic disruptions caused by the pandemic.
• Evaluates post-pandemic impact on the Sales of Foot Orthotic Insoles Market during the forecast period.
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After reading the Market insights of Foot Orthotic Insoles Report, readers can:
• Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
• Analyze key regions holding significant share of total Foot Orthotic Insoles market revenue.
• Study the growth outlook of Foot Orthotic Insoles market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use & supply side analysis of Foot Orthotic Insoles market.
• Investigate the recent R&D projects performed by each market player & competitive analysis of Foot Orthotic Insoles Market Players.
Competitive Landscape
Market players have been following a blend of organic and inorganic strategies to gain position in this lucrative space. These strategies include product launches, collaborations with other players and suppliers, partnerships, acquisitions, and strengthening global supply chain networks.
For instance, Powerstep launched a new orthotic recovery slider for men and women, with built-in arch support in an easy and secure slip-on style.
Wiivv integrated with Volumental, an AI-powered footwear recommendation system, to create an omni-channel 3D-footwear customization platform.
ComfortFit Labs partnered with TOM-CAT Solutions to develop a foot and ankle scanning technology. This technology is fully integrated with hardware and software in a compact device. This new device is iPad Air 2-based and is easy to use.
Similarly, recent developments related to companies manufacturing insoles have been tracked by the team at Fact.MR, which are available in the full report.
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Which Region Offers Great Potential for Insole Suppliers?
With an absolute dollar opportunity of around US$ 12.1 Bn, East Asia is expected to be the most lucrative market for insole manufacturers. Every 1 out of 4 insoles produced across the globe is manufactured in East Asia.
Regional players in North America and Europe are concentrating on developing insoles with advanced technologies such as 3D printing and multiple injection.
The market is filled with small and medium enterprises across all seven regions, who provide different types of insoles. Some of the biggest companies manufacturing insoles are Sidas Worldwide, Aetrex Worldwide, Dr. Scholls, Bauerfeind, Protalus, and Profoot Inc.
What are the Factors Supporting Increasing Demand for Insoles?
Increase in consumer awareness about physical fitness can be confirmed seeing growth in the sales of pedometers. Increase in physical activities such as walking and running has brought added stress on the joints of people across the globe. Higher impact on the joints during dynamic activities results in pain and ailments of the feet.
To avoid these conditions, it becomes imperative to manage the impact on the feet properly, which is the primary function of insoles. They not only keep the feet comfortable but also provide support, improve posture of the body, and provide breathability to the foot-sole by absorbing sweat around the feet.
These are key factors increasing demand for insoles in the market, and thus, depicts that market growth will be higher over the coming years.
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