Flip Flops Market Size, Share, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

  • TBI192747
  • March 10, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: Flip Flops Market

The global flip flops market size was valued at USD 17.8 billion in 2018 and is expected to grow with a CAGR of 4.2% from 2019 to 2025 due to high product demand on account of their excellent durability and low prices. In addition, these 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, rising concerns about environmental pollution and non-disposable and harmful materials used for product manufacturing may hinder the market growth. 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.

End User Insights

Based on end user, the market is segmented into female and male. The female end user segment accounts for the largest flip flops market share owing to higher product demand. Moreover, 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 a significant growth over the forecasted period. The growth is attributed to high product demand in this segment as a result of increased awareness about the latest fashion trends. Distribution Channel Insights Based on 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. Rising number of offline channels, such as hypermarkets and brand stores, in emerging regions will drive the segment growth. 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 driving the market growth. In addition, 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 of Flip Flops Market

Asia Pacific is estimated to be the largest regional market by 2025. The growth is attributed to growing consumer awareness about the latest fashion trends. North America is estimated to be the fastest-growing regional market over the forecasted period. Availability of a wide range of products and constant product innovation are driving the market in this region. Central and South America is also estimated to witness a considerable growth at a steady CAGR from 2019 to 2025 owing to high product demand.

Market Share Insights of Flip Flops Market

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 chip.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Flip Flops Market Research 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, this market research report has segmented the global flip flops market report on the basis of end user, distribution channel, and region: End User Outlook (Revenue, USD Million, 2019 - 2030) Female Male Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030) Online Offline

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Market Segmentation & Scope                  1.2. Market Definition                  1.3. Information Procurement                      1.3.1. Purchased Database                      1.3.2. GVR’s Internal Database                      1.3.3. Secondary Sources & Third-Party Perspectives                      1.3.4. Primary Research                  1.4. Information Analysis                       1.4.1. Data Analysis Models                  1.5. Market Formulation & Data Visualization                  1.6. Data Validation & P
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