Transparency Market Research delivers key insights on the global casual and sports insoles market. In terms of revenue, the global casual and sports insoles market is estimated to expand at a CAGR of ~6% based on value during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the global casual and sports insoles market report.
In this market report, TMR predicts that, significant growth in the participation in sports and increasing foot-related health issues across the globe are anticipated to boost the casual and sports insoles market. Increase in the geriatric population coupled with increasing incidence of plantar fasciitis and diabetes is surging the demand for casual insoles. Additionally, increasing demand for customized insoles that are made after complete evaluation of the consumer’s foot structure is boosting the global market of casual and sports insoles. Countries in Asia Pacific are major consumers of casual insoles, and the market in the region is anticipated to show significant growth in the coming years. In addition, technological developments are improving the features of products, which influences their efficiency. This is also expected to accelerate the growth of the casual and sports insoles market in the coming years.
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However, the growing market of counterfeit insoles is affecting the demand for casual and sports insoles. The growth of counterfeit products is mostly being observed in developing countries, where a large number of consumers are driven by the logo of a brand and product cost. The counterfeit products market is the major restraining factor that casual and sports insoles manufacturers have to deal with. This factor is anticipated to hamper casual and sports insole companies in terms of cost in the long run, and is expected to be a key restraining factor for the growth of the global casual and sports insoles market.
Increasing demand for sports insoles owing to their benefits such as reduction in tiredness and arch support, which helps athletes run faster and make them agile while making turns while playing a sport, is influencing the overall casual and sports insoles market positively. Product innovation and technological advancements are also supporting factors for the growth of the casual and sports insoles market.
According to the report, based on product, the foam insoles segment dominated the global casual and sports insoles market, and is anticipated to retain its share in the coming years. Many varieties and features of insoles are a major driving factor of the foam insoles market. However, the gel segment is also becoming popular in the market and is expected to expand at a significant rate.