GVR Report cover Flip Flops Market Size, Share & Trends Report

Flip Flops Market Size, Share & Trends Analysis Report By End User (Female, Male), By Distribution Channel (Online, Offline), By Region (North America, APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025

  • Report ID: GVR-3-68038-730-8
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global flip flops market size to be valued at USD 23.8 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% during the forecast period, due to high product demand on account of their excellent durability and low prices. In addition, this footwear are extremely lightweight and can be carried easily, which is also boosting their demand across the globe. Furthermore, increasing consumer disposable income levels and constant product innovations are projected to fuel the growth of this market. On the hand, raising concerns about environmental pollution and non-disposable and harmful materials used for product manufacturing may hinder the market growth.

Flip Flops Market size, by end user

This has impelled manufacturers to invest more in R&D to develop sustainable products made from eco-friendly materials, papyrus, wood, and palm leaves. For instance, in 2018, Allbirds, a startup company, launched new flip flops made from sugar cane. This, in turn, is projected to boost the demand.

Moreover, companies are focusing on increasing sustainability by donating some revenue share for environmental causes. For instance, Havaianas launched IPE collection and announced that it will be contributing 7% of the revenue generated from the collection to Environmental Research Institute that will develop projects to help reserve Atlantic Rainforest, Amazonia, and Pantanal.

Flip Flops Market Trends

The major factors driving the market growth include low pricing and better durability of flip flops. Furthermore, as flip flops being lightweight they are easy to carry and is more preferred by travelers. This is expected to boost the adoption of flip flops during travel and expected to boost the flip flop market of flip flops in the forecast period.

Moreover, the presence of online channels and e-commerce is the key driver fueling the global market for flip flops. The market is globally expanding due to the consumer preference for comfortable, attractive, and fashionable footwear. Easy availability of product varieties, and style addiction are some of the key factors contributing to the growth of the global market.

Flip flops are becoming more popular owing to the pandemic as a high population is working from home. As a result of this, the flip-flop market is anticipated to witness an increase in the revenue. Moreover, the flip-flops market has the potential to outgrow ortho footwear, as 65 - 70% of the population prefer flip-flops for better foot comfort. However, the flip-flops are made of ethylene-vinyl acetate, a petroleum-based product that releases harmful compounds on improper disposal. In addition, the improper disposal of flip flops near beach areas is destroying the marine life as rubber pieces are found in the digestive system of marine animals. Hence, these factors are eventually expected to limit the market growth of flip-flops in rural areas owing to the environment concerns.

End-User Insights

Based on end-user, the market is segmented into females and males. The female end-user segment accounts for the largest flip flops market share owing to higher product demand. Moreover, the availability of a wide variety of products will drive the demand in this segment. The segment is also estimated to register the fastest CAGR over the forecasted period. The male end-user segment is also estimated to witness significant growth over the forecasted period. The growth is attributed to high product demand in this segment as a result of increased awareness of the latest fashion trends.

Distribution Channel Insights

Based on the distribution channel, the market is segmented into online and offline. The offline distribution channel segment accounted for the largest share in 2018. It will expand further at a steady growth rate in the years to come. The rising number of offline channels, such as hypermarkets and brand stores, in emerging regions, will drive the segment growth.

Flip Flops Market share, by distribution channel

The online distribution channel is estimated to be the fastest-growing segment over the forecasted period. Increasing usage of internet and smartphone devices across the globe is the key factor in driving market growth. In addition, the rapidly expanding e-commerce sector in developing economies is supporting the segment growth. Moreover, online portals offer discounts on branded products, home delivery services, and easy return policies, which will drive the segment further.

Regional Insights

Asia Pacific is estimated to be the largest regional market by 2025. The growth is attributed to growing consumer awareness of the latest fashion trends. North America is estimated to be the fastest-growing regional market over the forecasted period.

Flip Flops Market Trends by Region

The availability of a wide range of products and constant product innovation are driving the market in this region. Due to high product demand, Central and South America are also estimated to witness considerable growth at a steady CAGR from 2019 to 2025.

Key Companies & Market Share Insights

Major companies in the market include Havaianas; Skechers USA, Inc.; Crocs; Deckers Brands; Fat Face; Adidas AG, C. & J. Clark International Ltd.; Kappa; Nike, Inc.; and Tory Burch LLC. Companies are investing more in R&D to develop eco-friendly products with advanced features and unique designs and patterns to gain a higher market share. For instance, Hari Mari, in collaboration with baseball gloves manufacturer Nokona, launched a new line of flip flops embedded with chips.

Recent Developments

  • In July 2021, Skechers announced a new footwear partnership with Kansai Yamamoto, the late legendary Japanese designer. The limited-edition Skechers x Kansai Yamamoto range of four stylish sneakers for men and women pays homage to Kansai's aesthetic and was released in Japan, North America, and Europe.

  • In August 2021, Havaianas launched an exclusive range co-designed by A Bathing Ape, a streetwear brand. The Tradi Zori and the Top silhouette, both of which have been redesigned with Bape's trademark camouflage design, are included in the collection.

  • In March 2022, HOKA collaborated with Bodega. The exclusive capsule blends outdoor performance innovation with city-inspired casual fashion in a seamless manner. The two products launched include a limited edition of the ORA Recovery Slide and the colorway of the Kaha Low GTX trail hiker.

Flip Flops Market Report Scope

Report Attribute

Details

Revenue forecast in 2025

USD 23.8 billion

Growth rate

CAGR of 4.2% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD billion and CAGR from 2019 to 2025

Report coverage

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

Segments covered

End-user, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

U.S.; Germany; U.K.; China; Japan; Brazil; South Africa

Key companies profiled

Havaianas; Skechers USA, Inc.; Crocs; Deckers Brands; Fat Face; Adidas AG, C. & J. Clark International Ltd.; Kappa; Nike, Inc.; Tory Burch LLC.

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Flip Flops Market Segmentation

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, Grand View Research has segmented the global flip flops market report on the basis of end-user, distribution channel, and region.

Global Flip Flops Market Segmentation

  • 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

      • The U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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