The Global Flip Flops Market size is expected to reach $27.6 billion by 2029, rising at a market growth of 4.2% CAGR during the forecast period.
The market is capturing most of its revenue from offline channels including supermarkets & hypermarkets, showrooms, shops, etc., because of the benefit of trying footwear in person and buying it according to their comfort, thereby generating approximately 3/4th market share from offline channels. Some of the factors impacting the market are the surging demand for flip flops due to the growing e-commerce sector, potential benefits of using flip flops and adverse health effects resulting from extended flip flop usage.
The increase in mobile device usage has resulted in the expansion of eCommerce to acquire items such as flip flops. The increased usage of mobile devices has led to a more flexible and passive approach to online buying and selling. Hence, the growth of e-commerce channels has also surged the demand for various footwear like flip flops, which in turn will boost the market growth.
Flip flops are preferred for casual wear due to their comfortable nature. Flip flops are a versatile footwear option that can complement various attires and are appropriate for diverse events, including outdoor activities and casual gatherings. Thus, the advantages linked to flip flops are expected to enhance their demand and drive market expansion. However, when considering appropriate footwear for various activities, it is important to note that flip flops may only be suitable for short-term use due to their lack of arch and heel support. Thereby, the potential limitations on market growth are expected due to the negative impact of prolonged flip flop usage on the body.
Based on end-user, the market is segmented into female and male. The male segment acquired a substantial revenue share in the market in 2022. This is owing to the increasing demand for products attributed to the heightened awareness of the latest fashion trends in men. In addition, with the rising prevalence of work from home (WFH) trend, many men found themselves stuck at home and stayed in flip flops for longer, increasing their demand. Hence, the growing product need due to the rising awareness regarding fashion trends and the WFH culture aided the segment’s expansion.
On the basis of distribution channel, the market is divided into offline and online. The offline segment held the highest revenue share in the market in 2022. This is due to the accessibility of affordable flip-flops in local retail stores, which will contribute to the expansion of the offline segment. The distribution of flip-flops is carried out through multiple offline channels globally.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 20.8 Billion |
| Market size forecast in 2029 | USD 27.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 4.2% from 2023 to 2029 |
| Number of Pages | 137 |
| Number of Table | 240 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Distribution Channel, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed the largest revenue share in the market in 2022. The growth in the Asia Pacific region is due to the rising consumer awareness of current fashion trends and increased spending on fashionable footwear. In addition, flip flop companies prioritize collaborations with fashion brands to appeal to consumers in various countries throughout the Asia Pacific region. Leading businesses may consider establishing manufacturing facilities and warehouses in regional countries due to the convenient access to essential resources like land and labor. Such steps are expected to drive market growth in the APAC.
Free Valuable Insights: Global Flip Flops Market size to reach USD 27.6 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alpargatas S.A. (Havaianas), SKECHERS USA, Inc., Crocs, Inc., Deckers Outdoor Corporation, FatFace Limited, Adidas AG, C. & J. Clark International Limited (Viva China Holdings Limited), KAPPA Srl (BasicNet S.p.A.), Nike, Inc., and Tory Burch LLC.
By Distribution Channel
By End User
By Geography
The Market size is projected to reach USD 27.6 billion by 2029.
The surging demand for flip flops due to the growing e-commerce sector are driving the Market in coming years, however, Adverse health effects resulting from extended flip flop usage restraints the growth of the Market.
Alpargatas S.A. (Havaianas), SKECHERS USA, Inc., Crocs, Inc., Deckers Outdoor Corporation, FatFace Limited, Adidas AG, C. & J. Clark International Limited (Viva China Holdings Limited), KAPPA Srl (BasicNet S.p.A.), Nike, Inc., and Tory Burch LLC.
The expected CAGR of this Market is 4.2% from 2023 to 2029.
The Female segment is leading the Market by End User in 2022 thereby, achieving a market value of $19.8 billion by 2029.
The Asia Pacific market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $10.2 billion by 2029.
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