Foot Insoles Market in US 2019-2023
About this market
People seeking a career in fitness and sports are aware of the importance of physical activities. Foot insoles are extensively used for the treatment and prevention of these complications like plantar fasciitis. Achilles tendonitis, shin splints, and runners’ knee. Foot insoles provide firm arch support, with soft cushioning and gel encased with the hard-plastic shell on the outside to provide good biomechanical control. These are designed specifically for runners, athletes, and walkers. These insoles are athlete-tested to support movement across a range of athletic activities, have a cushion effect and help absorb shock. As a result, the increase in sports activities and the availability of sports-related products has increased the demand for foot insoles. Technavio’s analysts have predicted that the foot insoles market in US will register a CAGR of almost 7% by 2023.
Product innovation and portfolio extension
Innovation in product and portfolio extension drives the foot insoles market in the US. Vendors offer various medical and sports insoles manufactured per medical and sports requirement. Of late, the demand for premium and high-quality medical and sports insoles that are also priced high is increasing. Sports Insoles Ski & Skate insole that is designed specifically for feet in rigid footwear such as ski boots or ice skates. These product innovations drive the foot insoles market in the US.
High cost of foot insoles
The high cost of foot insoles hinders their adoption in the US. This high price stems from the use of expensive raw materials: customization, and consultation charges. Issues related to the mismatch between the demand and supply of leather affect the industry at large.
For the detailed list of factors that will drive and challenge the growth of the foot insoles market in US during the 2019-2023, view our report.
The foot insoles market in the US is highly fragmented, and the competition among companies is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Foot Insoles Market in US 2019-2023
Technavio recognizes the following companies as the key players in the foot insoles market in US: Bauerfeind USA, Bayer AG, Implus Footcare, SOLO Laboratories, SUPERFEET WORLDWIDE.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the introduction of connected insoles.”
According to the report, one of the major drivers for this market is the growth of e- commerce platform in the US drives the foot insoles market in the US.
Further, the report states that one of the major factors hindering the growth of this market is the critically of product sourcing and investor management.
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