As per a newly released study by Future Market Insights (FMI), the United States & Canada sports & athletic insoles market is expected to be worth US$ 3,289.6 million in 2023 and US$ 6,020.0 million by 2033. It is estimated to surge at 6.2% CAGR from 2023 to 2033.
The United States & Canada sports & athletic insoles market is expected to rise rapidly during the forecast period. This is due to a number of factors, including increasing participation in sports & fitness activities and growing consumer awareness of foot health.
Technological innovation is driving the creation of novel materials and styles for sports & athletic insoles. Modern cushioning materials, shock-absorbing techniques, and pressure-distribution systems are being incorporated by manufacturers into insole designs. These innovations can enhance comfort, absorb stress, and return energy, improving foot function and lowering the risk of injury.
There is a rising understanding of the need of safeguarding the foot from potential injuries as more people participate in sports and fitness activities. Athletic and sports insoles are regarded as a crucial instrument to lessen the effects of repetitive motion.
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They are also employed to lessen stress and offer required assistance. These advantages might contribute to their strong demand among sportsmen and fitness aficionados.
Aging populations in Canada and the United States have boosted the need for sports & athletic insoles. Aging persons can develop mobility-impairing foot disorders such as plantar fasciitis, arthritis, and other ailments.
Older folks have begun to favor sports and athletic insoles, which are made to be comfortable and reduce foot pain. They must strive to retain an active way of life and raise their standard of living.
Athleisure apparel and footwear have become increasingly popular, where they are not only worn for physical activity but also as part of daily attire. The market for sports & athletic insoles has grown as a result of this change in customer behavior.
The market has expanded to include non-athletes who are looking for supportive and comfortable footwear solutions. In the United States and Canada, demand for insoles that provide both performance advantages and style has increased as a result.
Sales of sports & athletic insoles have also been significantly boosted by the accessibility and convenience of internet buying. Consumers can now research a variety of products from the comfort of their homes, read reviews, and make educated judgments thanks to e-commerce platforms.
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High accessibility has helped raise public knowledge of the advantages of athletic and sports insoles. Demand for these products in the United States and Canada is probably going to increase as a result.
Key Takeaways from the United States & Canada Sports & Athletic Insoles Market Study:
- The United States & Canada sports & athletic insoles industry witnessed a CAGR of 7% in the historical period from 2018 to 2022.
- The United States sports & athletic insoles industry is anticipated to expand at a CAGR of 2% during the projection period.
- By insole type, the moisture-wicking segment is projected to surge at a robust CAGR of 6% from 2023 to 2033.
- Based on material, the EVA segment is anticipated to register a CAGR of 7% during the forecast period.
- In terms of end use, the professional athletes segment is expected to spur rapidly at a CAGR of 2% during the projection period.
“Rising awareness of foot health is leading to the surging demand for orthotic sports and athletic insoles from the pharmaceutical segment. Technological advancements in insole design might help the market to expand in the evaluation period,” says a lead analyst at Future Market Insights (FMI).
Who is winning?
Players in the sports and athletic insoles market in the United States & Canada might concentrate on research & development. They are aiming to produce avant-garde insole designs employing cutting-edge materials and technology. This can entail adding capabilities such as pressure mapping, 3D scanning, or smart insoles that monitor performance indicators.
Custom insoles made to fit the needs and foot shapes of certain athletes are becoming more popular. A few businesses provide custom molding or scanning services to make bespoke insoles for the best possible performance and comfort.
Online and offline aggressive marketing initiatives can assist build brand awareness and draw clients. In order to contact potential customers, social media, influencer marketing, and targeted advertising can all be very helpful.
Companies can increase their visibility and credibility in the market by partnering with well-known athletes, sports teams, or fitness organizations. These alliances can be used as powerful marketing techniques to target particular demographics.
For instance,
- A renowned producer of orthotic insoles, FootScience, Inc., sold its assets to Spenco Medical Corporation in 2023. Through the acquisition, Spenco will be able to extend its product line and access new markets.
Get More Valuable Insights into United States & Canada Sports & Athletic Insoles Market
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the United States & Canada sports & athletic insoles market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033. The study divulges compelling insights on the United States & Canada sports & athletic insoles industry by insole type (shock-absorbing insoles, arch-supportive insoles, cushioned insoles, moisture-wicking insoles, customizable/moldable insoles, other types), by base material (gel-based insoles, foam-based insoles, air cushion insoles, EVA insoles, leather insoles, other material), by end user (professional athletes, recreational sports enthusiasts, fitness enthusiasts, individuals with foot conditions, and other end users), and by sales channel (online retail, specialty sports stores, footwear & shoe stores, department stores, sports equipment stores, other distribution channel).
About the Consumer Product Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations- the consumer product team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the consumer product industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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