SAN FRANCISCO, Oct. 10, 2019 /PRNewswire/ -- The global flip flops market size is expected to reach USD 23.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 4.2% from 2019 to 2025. The growth is driven by the rising demand for comfortable and fashionable flip flops across the globe due to their low prices and high durability.
Key suggestions from the report:
- Female end user segment accounted for the largest market share in 2018 and is estimated to expand further at the fastest CAGR over the forecasted period
- Online distribution channel is estimated to be the fastest-growing segment with a CAGR of 5.1% owing to increasing usage of internet and smartphones, especially in emerging regions
- Some of the key companies in the global flip flops 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
Read 80 page research report with ToC on "Flip Flops Market Size, Share & Trends Analysis Report By End User (Female, Male), By Distribution Channel (Online, Offline), By Region (North America, APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/flip-flops-market
Moreover, flip flops are extremely lightweight and can be carried easily, which is also boosting their demand across the globe. In addition, rising concerns about environmental pollution has driving the demand for eco-friendly products, thereby impelling manufacturers to develop sustainable products. This is also likely to have a positive impact on the market growth. For instance, in 2018, Allbirds, a startup company, launched new flip flops made from sugar cane.
Furthermore, companies in the flip flops market 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. The online distribution channel is estimated to register the fastest CAGR from 2019 to 2025 on account of increasing usage of smartphone devices and internet.
Furthermore, availability of attractive designs and easy payment options and return policies offered by online portals are driving the segment growth. The offline distribution channel is estimated to account for the largest market share by 2025 owing to high product sales through these channels, particularly in low-income countries. Based on region, Asia Pacific is estimated to be the largest market. However, North America is projected to expand at the fastest CAGR during the forecast years.
Grand View Research 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
Find more research reports on Consumer Goods Industry, by Grand View Research:
- Smart Shoes Market – Rising popularity of smart wearables pertaining to increased participation in sports and fitness activities is anticipated to drive the growth.
- Mountain Bike Shoes Market – Rising popularity of mountain and off-road biking coupled with growing safety concerns while riding through rugged terrains is boosting the product demand
- Shoe Shine Machine Market – Rising number of working individuals along with increasing demand for quick shoe cleaning services is projected to drive the demand for shoe polishing machines.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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