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Global Flip Flops Market Size & Share, 2019-2025 | Industry Report

Flip Flops Market Analysis Report By End User, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619819  |  Published: June 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global flip flops market size was worth USD 17.8 billion in 2018. The market is projected to ascend at a CAGR of 4.2% over the forecast period. The growing demand for the product owing to their low prices and durability is attributing to the growth of the market. Further, they are light in weight and can easily be carried, thus, becoming a convenient footwear alternative.

Further, the introduction of innovative products coupled with increasing disposable income of consumers is estimated to drive the demand for this footwear. However, growing environmental concern is likely to be a restraining factor in market growth as consumers are becoming more aware of the harmful effect of these products.

U.S flip flops market

Owing to growing environmental concern, manufacturers are emphasizing on investing in research and development to manufacture eco-friendly products. In this regard, they are focusing on using materials such as wood, palm leaves and papyrus. Recently, in 2018, a start-up named Allbirds introduced a new model of sugarcane made flip flops. Thus, the introduction of such environment-friendly products is expected to bode well for market growth.

Companies are donating some share from their revenue to support the environmental-related cause. For example, Havaianas introduced IPE collection with an announcement that the company will donate 7% of its revenue to the Environmental Research Institute.

End User Insights

On the basis of end-user, the global flip flop market is segregated into male and female categories. Of them, the female segment held the largest market share owing to increasing demand for the product. Further, the availability of variety of products in this segment is attributing to the growth. The female segment is also projected to exhibit the highest growth rate over the forecast period. The male segment, on the other hand, is likely to witness considerable growth rate from 2019 to 2025. Growing awareness about changing fashion trend is the major factor leading to the growth of this segment.

Distribution Channel Insights

Distribution channel segment is divided into offline and online. On them, the offline segment held the largest share in the market in 2018. In addition, this segment is projected to grow at a significant rate over the forecast period. The growing number of brand store and hypermarkets are likely to drive the growth of the segment over the next few years.

Global flip flops market

On the other hand, the online channel is likely to exhibit the highest growth rate from 2019 to 2025. The emergence of multi-channel retailing coupled with the increasing number of online stores is bolstering the growth of this segment. Further, the rapid rise in the number of internet users, especially in developing countries is augmenting the growth of this segment. Additionally, online portals provide various benefits such as convenient purchasing experience, various discount and doorstep delivery options, which, in turn, is expected to supplement the segment growth.

Regional Insights

Asia Pacific is projected to be the leading market by 2025. Growing consumers’ inclination toward the latest fashion trends is the major factor attributing to the growth of this region. On the other hand, North America is likely to be the fastest-growing market over the forecast period. Introduction of innovative products coupled with the availability of a variety of products is expected to drive the market growth in the North American region. CSA is also projected to exhibit significant growth over the forecast period.

Flip Flops Market Share Insights

Key players operating in the market are Crocs, Adidas AG, Kappa, Tory Burch LLC, Fat Face, Deckers Brands, Nike, Inc., Clark International Ltd and Havaianas among others. These companies are emphasizing on increasing their investment in manufacturing eco-friendly products to gain the upper hand in the market. For example, Hari Mari and Nokona jointly introduced a new series of flip flops which has a chip embedded in it.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, U.K., China, Japan, Brazil, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global flip flops market report on the basis of end user, distribution channel, and region:

• End User Outlook (Revenue, USD Million, 2015 - 2025)
    • Female
    • Male

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa

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