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Foot Insoles Market by Application, Material, and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR41070
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The foot insoles market share is expected to increase by USD 1.41 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8%.

This foot insoles market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers foot insoles market segmentations by material (polypropylene and EVA, leather, and others), application (medical insoles and sports insoles), and geography (North America, Europe, APAC, MEA, and South America). The foot insoles market report also offers information on several market vendors, including Aetrex Worldwide Inc., Bauerfeind AG, Bayer AG, Hanger Inc., Stable Step LLC, Ottobock SE and Co. KGaA, SOLO Laboratories Inc., Superfeet Worldwide Inc.Implus Footcare LLC, and Footlogics Australia Pty Ltd. among others.

What will the Foot Insoles Market Size be During the Forecast Period?

Foot Insoles Market Size

Download the Free Report Sample to Unlock the Foot Insoles Market Size for the Forecast Period and Other Important Statistics

 

Foot Insoles Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growth in older population is notably driving the foot insoles market growth, although factors such as intense competition among vendors may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the foot insoles industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Foot Insoles Market Driver

One of the key factors driving the foot insoles market is the rising number of road accidents. Nearly 20 to 60 million people are estimated to be injured or disabled each year because of road accidents. According to WHO, approximately 1.35 million people die each year as a result of road accidents. Road injuries, including fractures, take a significant toll on an individual's health. Road accidents cost most countries 3% of their GDP. Economically, people living in middle-income countries are hit the hardest by such injuries. In the case of severe fractures, patients may take several weeks or months to recover. The growth in the number of accidents can create an impact on the bone structure, weakening it further. Doctors recommend the usage of insoles to provide a better walking experience to people suffering from accident-related injuries. Insoles not only provide the needed pain relief during ankle, foot, and leg injuries but also offer a wide range of benefits focused on aligning the feet into proper positions while running, standing, or walking after injuries. The increasing frequency of accidents and the recommendations by physicians will propel the revenue growth for vendors in the market.

Key Foot Insoles Market Trend

Another key factor driving the foot insoles market growth is the rise in use of eco-friendly products. With the rising need for the preservation of the environment, many consumers have started seeking sustainable products. Vendors are catering to this demand by focusing on manufacturing products that help in reducing the negative effects on the environment. Thus, recycled rubber, plastic materials, organic cotton, and water-based adhesives are replacing traditional nylon, polyurethane, leather, synthetic rubber, and other synthetic materials in the manufacturing of sports apparel and athletic footwear. Building on such environmental initiatives, Adidas plans to cover its entire value chain, from product development to sales, under this newly developed strategy. These manufacturers have incorporated insoles in their products to enhance their market reach. Insoles by Natura and Virtual range also provide ecofriendly insoles recreating the sensation caused by walking on sand, moss, or grass. This trend will help in the development of eco-friendly materials for insoles, leading to higher R&D investments and the generation of jobs in the market.

Key Foot Insoles Market Challenge

Intense competition among vendors is one of the key challenges hindering the foot insoles market growth. These vendors can be large companies that produce a broad range of innovative and superior products on a global scale to medium and small-sized companies that focus on a single product line and geographic regions. As regulatory compliances crumble, particularly in emerging nations, several local and international players are trying to come up with more comfortable products in the market. The competition between vendors is strong in terms of pricing, resulting in low-profit margins. The competition is based on the manufacturing and design costs of a product. The vendors are also experiencing pressure from insurance companies and health institutions to keep the price of insoles fixed. To survive the competitive environment, vendors have to implement strategies to contain the development cost and shorten the product development time, with decreased time to market. Also, the vendors try to diminish the infrastructure costs, labor, and capital, which tie up capital. This led to vendors resorting to outsourcing production to smaller vendors in the market. Hence, the intense competition in the market is a major challenge and is expected to adversely affect the market during the forecast period.

This foot insoles market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global foot insoles market as a part of the global personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the foot insoles market during the forecast period.

Who are the Major Foot Insoles Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aetrex Worldwide Inc.
  • Bauerfeind AG
  • Bayer AG
  • Hanger Inc.
  • Stable Step LLC
  • Ottobock SE and Co. KGaA
  • SOLO Laboratories Inc.
  • Superfeet Worldwide Inc.Implus Footcare LLC
  • Footlogics Australia Pty Ltd.

 

This statistical study of the foot insoles market encompasses successful business strategies deployed by the key vendors. The foot insoles market is concentrated and the vendors are deploying growth strategies such as pricing and marketing strategies to compete in the market.

Product Insights and News

  • Aetrex Worldwide Inc.- Under this segment, the company offers footwear for women and men that includes, sandals, boots, wedges &heels, clogs, slip-ons, loafers, slippers, socks, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The foot insoles market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Foot Insoles Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the foot insoles market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Foot Insoles Market?

Foot Insoles Market Market segmentation by region

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36% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for foot insoles market in North America. Market growth in this region will be faster than the growth of the market in Europe and South America regions.

Availability of wide range of products, high consumer awareness, and the presence of international brands providing innovative products will facilitate the foot insoles market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The foot insoles market in North America witnessed certain challenges in 2020 due to the COVID-19 pandemic. The US is the most affected country by the pandemic in North America. One of the factors that negatively affected the demand for foot insoles in the region was the stay-at-home policy imposed by various countries in the region, including the US. Also, the government closed down popular outdoor destinations to prevent the spread of COVID-19. This negatively affected the demand for foot insoles in the market in North America in 2020. The demand for foot insoles, however, is expected to increase during the forecast period, as governments have reopened the tourist destinations and people have started visiting them. The development of vaccines for COVID-19 will also play a significant role in increasing the demand for foot insoles as it will encourage people to move out more confidently.

What are the Revenue-generating Material Segments in the Foot Insoles Market?

Foot Insoles Market Segmentation

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The foot insoles market share growth by the polypropylene and EVA will be significant during the forecast period. Molded polypropylene insoles are used to manage the loss of muscles and bones due to neuro deformities. It provides dynamic stability to the foot while walking or participating in sports. Each sport has its own demands, and each orthotic must be built appropriately with the sport and the athlete taken into consideration. The polypropylene insoles market will continue to rise steadily, owing to the high adaptability in multiple shoe types.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the foot insoles market size and actionable market insights on post COVID-19 impact on each segment.

 

Foot Insoles Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8%

Market growth 2021-2025

$ 1.41 billion

Market structure

Concentrated

YoY growth (%)

5.86

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 36%

Key consumer countries

US, Canada, France, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aetrex Worldwide Inc., Bauerfeind AG, Bayer AG, Hanger Inc., Stable Step LLC, Ottobock SE and Co. KGaA, SOLO Laboratories Inc., Superfeet Worldwide Inc.Implus Footcare LLC, and Footlogics Australia Pty Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Foot Insoles Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive foot insoles market growth during the next five years
  • Precise estimation of the foot insoles market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the foot insoles industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of foot insoles market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Personal products market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Analysis
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Medical insoles - Market size and forecast 2020-2025
      • Exhibit 17: Medical insoles - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Medical insoles - Year-over-year growth 2020-2025 (%)
    • 5.4 Sports insoles - Market size and forecast 2020-2025
      • Exhibit 19: Sports insoles - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Sports insoles - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 21: Market opportunity by Application

    6 Market Segmentation by Material

    • 6.1 Market segments
      • Exhibit 22: Material - Market share 2020-2025 (%)
    • 6.2 Comparison by Material
      • Exhibit 23: Comparison by Material
    • 6.3 Polypropylene and EVA - Market size and forecast 2020-2025
      • Exhibit 24: Polypropylene and EVA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 25: Polypropylene and EVA - Year-over-year growth 2020-2025 (%)
    • 6.4 Leather - Market size and forecast 2020-2025
      • Exhibit 26: Leather - Market size and forecast 2020-2025 ($ million)
      • Exhibit 27: Leather - Year-over-year growth 2020-2025 (%)
    • 6.5 Others - Market size and forecast 2020-2025
      • Exhibit 28: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Others - Year-over-year growth 2020-2025 (%)
    • 6.6 Market opportunity by Material
      • Exhibit 30: Market opportunity by Material

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 32: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 33: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 34: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 40: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 42: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 44: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 45: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 46: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Overview
          • Exhibit 47: Vendor landscape
        • 10.2 Vendor overview
          • 10.3 Landscape disruption
            • Exhibit 48: Landscape disruption
            • Exhibit 49: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 50: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 51: Market positioning of vendors
          • 11.3 Aetrex Worldwide Inc.
            • Exhibit 52: Aetrex Worldwide Inc. - Overview
            • Exhibit 53: Aetrex Worldwide Inc. - Product and service
            • Exhibit 54: Aetrex Worldwide Inc. - Key offerings
          • 11.4 Bauerfeind AG
            • Exhibit 55: Bauerfeind AG - Overview
            • Exhibit 56: Bauerfeind AG - Product and service
            • Exhibit 57: Bauerfeind AG - Key offerings
          • 11.5 Bayer AG
            • Exhibit 58: Bayer AG - Overview
            • Exhibit 59: Bayer AG - Business segments
            • Exhibit 60: Bayer AG – Key news
            • Exhibit 61: Bayer AG - Key offerings
            • Exhibit 62: Bayer AG - Segment focus
          • 11.6 Footlogics Australia Pty Ltd.
            • Exhibit 63: Footlogics Australia Pty Ltd. - Overview
            • Exhibit 64: Footlogics Australia Pty Ltd. - Product and service
            • Exhibit 65: Footlogics Australia Pty Ltd. - Key offerings
          • 11.7 Hanger Inc.
            • Exhibit 66: Hanger Inc. - Overview
            • Exhibit 67: Hanger Inc. - Business segments
            • Exhibit 68: Hanger Inc. - Key offerings
            • Exhibit 69: Hanger Inc. - Segment focus
          • 11.8 Implus Footcare LLC
            • Exhibit 70: Implus Footcare LLC - Overview
            • Exhibit 71: Implus Footcare LLC - Product and service
            • Exhibit 72: Implus Footcare LLC - Key offerings
          • 11.9 Ottobock SE and Co. KGaA
            • Exhibit 73: Ottobock SE and Co. KGaA - Overview
            • Exhibit 74: Ottobock SE and Co. KGaA - Product and service
            • Exhibit 75: Ottobock SE and Co. KGaA - Key offerings
          • 11.10 SOLO Laboratories Inc.
            • Exhibit 76: SOLO Laboratories Inc. - Overview
            • Exhibit 77: SOLO Laboratories Inc. - Product and service
            • Exhibit 78: SOLO Laboratories Inc. - Key offerings
          • 11.11 Stable Step LLC
            • Exhibit 79: Stable Step LLC - Overview
            • Exhibit 80: Stable Step LLC - Product and service
            • Exhibit 81: Stable Step LLC - Key offerings
          • 11.12 Superfeet Worldwide Inc.
            • Exhibit 82: Superfeet Worldwide Inc. - Overview
            • Exhibit 83: Superfeet Worldwide Inc. - Product and service
            • Exhibit 84: Superfeet Worldwide Inc. - Key offerings

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 85: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 86: Research Methodology
              • Exhibit 87: Validation techniques employed for market sizing
              • Exhibit 88: Information sources
            • 12.4 List of abbreviations
              • Exhibit 89: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Foot Insoles Market market growth will increase by $1.68 bn during 2020-2024.
            The foot insoles market market is expected to grow at a CAGR of 7.41% during 2020-2024.
            Technavio has segmented the foot insoles market market by material (Polypropylene and EVA, Others, and Leather) ,application (Medical insoles, Sports insoles, APAC, and South America) , and geographic (North America, Europe, APAC, South America, and North America).
            Aetrex Worldwide Inc., Bauerfeind AG, Bayer AG, Footlogics Australia Pty Ltd., Hanger Inc. , Implus Footcare LLC, Ottobock SE & Co. KGaA, SOLO Laboratories Inc., Stable Step LLC, Superfeet Worldwide Inc. are a few of the key vendors in the foot insoles market market.
            North America will register the highest growth rate of 46% among the other regions. Therefore, the foot insoles market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the foot insoles market market growth are:
            • Rising number of road accidents
            • Rise in use of eco-friendly products
            The foot insoles market market vendors should focus on grabbing business opportunities from the polypropylene and eva segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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