Flip Flops Market Size, Share & Trends Analysis Report By End-user (Female, Male), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2023 - 2030

Flip Flops Market Size, Share & Trends Analysis Report By End-user (Female, Male), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2023 - 2030

Flip Flops Market Growth & Trends

The global flip flops market size was estimated to reach USD 28.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 3.8% from 2023 to 2030. 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. Increased income levels and high investments in summer footwear and clothing, particularly in developing countries such as China, India, and Brazil, are expected to foster the growth of the flip flops market globally.

The COVID-19 outbreak has hampered export and import activity and restricted the movement of raw materials used in the production of flip flops. However, the market is likely to eventually return to pre-pandemic levels, since sales of clothing and other lifestyle products have seen an uptick in sales and will generate more demand over the forecast period.

Based on end-user, the female segment is estimated to lead the segmental share over the coming years due to millennials shifting buying interests towards theme-styled footwear and apparels. In regions like North America, flip-flops are marketed as the ideal beachwear that can be worn with floral dresses, shorts & tops, swimwear, and bikinis. In essence, flip-flops in North America are principally marketed/sold during summer trips.

Based on distribution channel, offline segment is expected to lead the segmental share in the forecast period as there is a greater expansion of footwear retail outlets in tier I, II, and III cities globally. The expansion of footwear establishments, both local and startup, has contributed to a larger contribution of offline channel sales in the global market.

Based on region, Asia Pacific is expected to foresee robust growth in the upcoming years with the advent of emerging manufacturing and production centers that manufacture footwear and clothing products to suit the increasing interest of the population towards such products. The footwear sector in China has been effective in retaining the country’s status as the world's largest footwear manufacturer and consumer. The flip-flops market in China has experienced an extreme transformation over the years. Owing to rising per-capita income of citizens and changing lifestyles, there has been a shift from traditional flip-flops to trendy ones in the country’s market.

The flip-flop industry is always changing and updating. To stay head-on in the market, players tend to launch new strategies more frequently. 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.

Flip Flops Market Report Highlights

• The female end-user segment is expected to dominate the flip flops market, accounting for the major share of revenue
• With the popularity of yoga and other physical activities at home, the flip-flops made from sustainable materials with trendsetting designs are gaining prominence among the women population in the global market
• The offline segment dominated the global market with highest revenue share in 2022. This growth is due to the greater preference for in-store visits and trying and testing out different flip flops such as caps, beanies, and hats that match according to shape and sizes of individuals
• The offline segment is likely to maintain its lead in the global flip-flops market throughout the forecast timeframe. Within specialist footwear retailers and local startups expanding globally, the segment is expected to attract consumers globally
• The market in Asia Pacific is expected to expand significantly, and it is expected to grow gradually in the coming years. It is being driven by an increase in acceptance of various designs and styles of flip flops in countries such as China, India, and Japan, as well as a large population base in Asia Pacific countries
• The availability of a wide range of products and constant product innovation are driving the market in this region

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