The global Flip Flops Market is estimated to touch USD 23.8 billion by 2025, according to a new report by Million Insights. The market is predicted to grow at a CAGR of 4.2% over the forecast period. The growing trend of fashionable and comfortable footwear is propelling product demand.
These footwear products are light in weight and can easily be carried, thus, providing convenience to consumers. Further, the growing demand for eco-friendly products is compelling manufacturers to focus on the production of sustainable products. This factor is estimated to bode well for the growth of the flip flop market over the forecast period. For example, Allbirds introduced the new line of flip flop manufactured with sugarcane.
Further, companies are focusing on sustainability factor by donating money to support an environmental cause. For example, Havaianas introduced IPE collection with an announcement that the company will donate 7% of its revenue.
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The online segment is expected to be the fastest-growing sector owing to the advent of multi retailing platforms coupled with the rise in the number of e-commerce websites. On the other hand, the offline segment held the largest market share in 2018, largely because of the rapidly growing chain of supermarkets and hypermarkets in emerging countries.
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 players are focusing on increasing their investment on the production of eco-friendly products to gain upper hand in the market.
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Further key findings from the report suggest:
• Among end-users, the female segment occupied the largest market share in 2018 and expected to maintain its dominance over the forecast duration.
• By sales channel, online segment is likely to exhibit a CAGR of 5.1% over the forecast period.
• Major players operating in the flip flops market are Skechers USA Inc., Crocs, Adidas AG, Kappa, Tory Burch LLC, Fat Face and Deckers Brands among others.
Million Insights has segmented the global flip flops market on the basis of end user, distribution channel, and region:
Flip Flops End User Outlook (Revenue, USD Million, 2015 – 2025)
Flip Flops Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Flip Flops Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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