Shoe Insoles Market Growth & Trends
The global shoe insoles market size is expected to reach USD 8.04 billion by 2030 and is expected to expand at a CAGR of 4.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for footwear has directly resulted in a surge in shoe insole usage. Moreover, soaring demand for cost-effective and non-invasive foot treatment by customized insoles is anticipated to boost the sales of shoe insoles in the coming years. Additionally, the rise in participation in sports events and the growing working population across the globe are accelerating the growth of the industry. In addition, the growing application of fashionable footwear such as high heels and slim sandals is boosting the growth of shoe insoles, which provide soft cushioning to the feet. However, if chosen the wrong size, shoe insoles may sometimes provide discomfort to the lower part of the body, which may become painful for the whole day, acting as a restraining factor for the industry growth.
The COVID-19 pandemic negatively impacted industries across the world. The market for shoe insoles faced a shortage of materials at the time of the lockdown. Hence, as a result, the shoe insoles supply fell. In addition, the prolonged lockdown created less demand for footwear products among the working population as well as sportspersons as they were isolated in their homes for a longer time period. However, the market is going to witness positive demand during the forecast period due to the growing trend of fashionable footwear among women and sportspersons.
The orthotics application segment grabbed a dominant revenue share of over 60.0% in 2021. The increasing awareness among consumers regarding the health effects of custom-made orthotics is surging the segment growth. Orthotics shoe insoles are designed to provide extra softness and cushioning as they redistribute the pressure the feet experience with everyday activities, thus contributing to the segment growth. Moreover, the orthotics insoles are highly applicable for people having arthritis or the ones who stand all day at work.
The foam material segment held the largest revenue share of over 45.0% in 2021. Foam is a material used for making shoe insoles with high-density polyurethane, which is commonly used in mattresses and sofas. Moreover, the chemical substance present in foam performs as a medical treatment for the feet, and the density provides bounce and comfort in the shoes. In addition, foam insoles are highly used by people as they offer extra softness and excellent pressure relief. Hence, these factors make foam a dominant material in the market.
The women end-user segment captured the largest revenue share of over 50.0% in 2021. Rising participation of the women population in sports and athletic activities and the increasing female working population across the globe are further increasing the demand for shoe insoles. The growing trend of high heels and fashionable footwear, which require comfortable shoe insoles, is accelerating the demand for shoe insoles among women.
Asia Pacific accounted for a leading revenue share of over 45.0% in 2021. The modern lifestyles and increasing busy schedules are surging the demand for shoe insoles among customers in this region. Moreover, the people in this region are facing health issues such as back pain, joint pain, and other related issues, which can be solved to a great extent by using customized shoe insoles or over-the-counter insoles. Hence, the health-improving formula is highly adopted by the population in Asia Pacific, and hence, it is expected to remain a dominant market during the forecast period.
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Shoe Insoles Market Report
Shoe Insoles Market Report Highlights
- Central and South America is expected to expand at the 2nd fastest CAGR of 4.7% during the forecast period. One of the key factors increasing the demand for shoe insoles is the rising working population, which is demanding customized shoe insoles
- The casual application segment is anticipated to expand at the fastest CAGR of 5.0% over the forecast period. A key factor contributing to the growth of casual shoe insoles is the busy lifestyles of people, which are impacting their foot areas for standing or walking for a long time
- The rubber material segment is expected to expand at a CAGR of 4.0% during the forecast period as rubber is highly used in making insoles for casual shoes
- The men end-user segment is anticipated to expand at the fastest CAGR of 4.8% during the forecast period owing to the high demand from sportsmen across the globe
