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 3/4thmarket 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.
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.
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 3/4thmarket 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.
End-user Outlook
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.
Distribution Channel Outlook
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.Regional Outlook
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.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.
Strategies Deployed in the Market
Partnerships, Collaborations and Agreements:
- Nov-2022: FatFace came into partnership with True Fit, a US-based operator of apparel and footwear personalization platform. The partnership involves offering fit and size guidance to shoppers, thus improving the digital shopping experience.
- Jun-2022: Skechers signed an agreement with Lodha, a real estate developer. The agreement involves Lodha setting up a new 1.1 million square foot distribution center for Skechers in Maharashtra, India. This new distribution has the potential to expand the footwear company's business and distribution capabilities. Additionally, this new center demonstrates Skecher's devotion to the Indian market.
Product Launches and Product Expansions:
- Sep-2022: Havaianas launched thermos-reactive footwear styles. The new footwear is launched in collaboration with Market, a US-based streetwear brand. The new thermos-reactive footwear changes its color to red from black when exposed to heat, and is available on Havaianas and Market’s official website, and select retail stores.
- May-2021: Nike unveiled Offline flip-flops 2.0. The new flip flops' upper material is made of breathable mesh and artificial leather and is equipped with two interchangeable insoles.
Mergers and Acquisitions:
- Apr-2023: Skechers signed a deal to acquire Sports Connection Holding, a Scandinavia-based operator of distributor business. The Scandinavian-based company would broaden the company's customer reach in Europe.
- Feb-2022: Crocs completed the acquisition of HEYDUDE, a footwear brand. Through this acquisition, the company aims at creating shareholder value and growing the HEYDUDE brand by cashing on Crocs' worldwide presence, marketing, and scale infrastructure.
Scope of the Study
By Distribution Channel
- Offline
- Online
By End-user
- Female
- Male
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Tory Burch LLC
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Global Flip Flops Market by Distribution Channel
Chapter 5. Global Flip Flops Market by End-user
Chapter 6. Global Flip Flops Market by Region
Chapter 7. Company Profiles
Companies Mentioned
- 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.
- Tory Burch LLC
Methodology
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