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

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 the 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.

Owing to growing environmental concerns, manufacturers are emphasizing investments in research and development to manufacturing 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 of their revenue to support the environmental-related cause. For example, Havaianas introduced the IPE collection with an announcement that the company will donate 7% of its revenue to the Environmental Research Institute.

End-User Insights

Based on 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 a 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 a considerable growth rate from 2019 to 2025. Growing awareness about changing fashion trends is the major factor leading to the growth of this segment.

Distribution Channel Insights

The 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 stores and hypermarkets are likely to drive the growth of the segment over the next few years.

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 a convenient purchasing experience, various discount and doorstep delivery options, which, in turn, is expected to supplement the segment growth.

Regional Insights

The 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. The introduction of innovative products coupled with the availability of a variety of products is expected to drive 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 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 them.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the 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.
    • the Asia Pacific
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa
        • South Africa