The Sock and Insole Market Is EXPLODING

 According to the Market Report, "Foot Orthotic Insoles Market Analysis: By Type  By End User (Sports (Running, Court); Medical (Diabetes, Rheumatoid Arthritis, Plantar Fasciitis, Metatarsalgia, Obesity); Comfort) -With Forecast (2015 - 2020)" by IndustryARC, the market is estimated to reach 3.5 USD Billion by 2020 at high CAGR.

The demand for the Foot  Insoles has seen a dramatic increase over the past few years due to the increasing prevalence of diseases such as diabetes, obesity, arthritis. According to the American Academy of Orthotists and Prosthetic's, out of 20.8 Million children and adults in the U.S., around 7% have diabetes. Diabetes is the leading cause of lower limb amputations, with over 50% of non-traumatic amputations due to diabetic complications. With growing incidence of diabetes, demand for foot orthotics insoles is expected to grow significantly. Similarly, obesity will be a key driving factor for orthotic industry, as rising incidence of obesity will lead to growth in orthopedic ailments and hence, the need for orthopedic support devices and solutions.

The market for foot insoles is going to evolve at much faster rate with the rise in healthcare spending and advancement of the technologies which provide greater stability and firmness to the feet. The adoption rate among users is also growing significantly across geographic regions.

According to a recent study from Industry ARC, the global foot  insoles market registered revenues of around $2.5 billion in 2014 and is estimated to grow at a CAGR of 5.8% to reach $3.5 billion by 2020. The biggest contributor is the North America region with a market share of around 45%. Foot insoles in the diabetic segment generated highest revenue followed by Rheumatoid Arthritis in 2014.

The global market is set to grow at a fast pace, particularly in the APAC region, owing to rise in prevalence of chronic diseases, disposable income as well as increasing awareness about foot orthotic insoles. In 2014, Americas and Europe held 50% and 30% share respectively. These regions are mature and have an established customer base owing to the rising awareness towards personal healthcare and technological advancements.

The global socks market is anticipated to witness significant growth in the near future owing to increasing urbanization and a steady rise in the working population across the globe. In a new report titled "Socks Market: Global Industry Analysis (2012-2016) & Forecast (2017-2025)," Persistence Market Research presents an in-depth analysis and forecast of the global socks market over an eight year forecast period. The report highlights the key factors impacting the market from a revenue and sales standpoint and also studies the performance of the global socks market across major geographies and regional markets. 

The global socks market is projected to reach a market valuation of US$ 34,902.1 Mn by 2025 end from an estimated US$ 21,517.9 Mn in 2017, exhibiting a CAGR of 6.2% in terms of revenue over the forecast period.

The emergence of socks as a fashion accessory among millennials is significantly contributing to the growth in revenue of the global socks market. Besides, a rising health awareness among consumers is also fueling the global market for different types of socks. Furthermore, an increasing penetration of organized players in the global market is furthering the development of the market and supporting growth in revenue.

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