NEW
YORK, June 21, 2024 /PRNewswire/ -- The global
flip flops market size is estimated to grow by USD 6.83 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
5.01% during the forecast period. Rise in rubber and
decrease in leather production is driving market growth, with a
trend towards increasing number of advertising and marketing
campaigns. However, fluctuations in prices of raw materials
poses a challenge. Key market players include Adidas AG,
Alpargatas SA, BasicNet Spa, Birkenstock digital GmbH, Boardriders,
Clarks Reliance Footwear Pvt. Ltd., Crocs Inc., Deckers Outdoor
Corp., Duke Fashions India Ltd., FatFace Ltd., Flop Happy LLC, Nike
Inc., OluKai LLC, Oofos Inc., Skechers USA Inc., Solethreads, SUPERDRY PLC, The Gap
Inc., Tory Burch LLC, and VALENTINO Spa.
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Flip Flops Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.01%
|
Market growth
2024-2028
|
USD 6.83
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.68
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
30%
|
Key
countries
|
China, US, Germany,
India, and Canada
|
Key companies
profiled
|
Adidas AG, Alpargatas
SA, BasicNet Spa, Birkenstock digital GmbH, Boardriders, Clarks
Reliance Footwear Pvt. Ltd., Crocs Inc., Deckers Outdoor Corp.,
Duke Fashions India Ltd., FatFace Ltd., Flop Happy LLC, Nike Inc.,
OluKai LLC, Oofos Inc., Skechers USA Inc., Solethreads, SUPERDRY
PLC, The Gap Inc., Tory Burch LLC, and VALENTINO Spa
|
Market Driver
Flip flops vendors have boosted sales through marketing and
advertising efforts, utilizing various platforms and celebrity
endorsements. Online retailing's rise and celebrity partnerships,
such as those with Jennifer Garner
and Kate Hudson, significantly
impact the global flip flops market's growth.
The Concersns and Environments in the Flip Flops market have
seen significant trends in recent times. The use of durable and
comfortable materials, such as fabric and rubber, has become
popular. Brands are focusing on producing eco-friendly flip flops,
made from recycled materials. The trend towards personalization
continues, with many companies offering customizable flip flops.
Additionally, the market for performance flip flops, designed for
specific activities like hiking or sports, is growing. The prices
for these flip flops vary, with some high-end brands charging more
for their unique features. The production process involves several
steps, including cutting, stitching, and soling. The durability and
comfort of flip flops are essential factors for consumers, making
these trends important for businesses in the industry.
Research report provides comprehensive data on impact of trend.
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Market Challenges
- The flip flops market faces challenges from volatile raw
material prices, which negatively impact profit margins. Leather,
polyester, nylon, rubber, cotton fiber, coconut fiber, foam, and
synthetics are used in production. Price fluctuations of these
materials force manufacturers to reduce prices and compete in price
wars. Transportation costs also add to vendor ownership costs,
making it difficult for manufacturers to anticipate investments and
control costs. Cost-conscious consumers prefer low-priced footwear,
reducing sales and hindering market growth.
- The flip flops market faces several challenges in the current
business environment. Durability and comfort are key priorities for
consumers in this sector. Customization and design are also
important factors, as consumers seek unique and stylish footwear.
The cost of production and materials is a significant challenge for
manufacturers. The trend towards sustainable and eco-friendly
practices is also influencing the market, with consumers demanding
more environmentally-friendly options. Additionally, the increasing
popularity of online sales channels is disrupting traditional
retail models, requiring companies to adapt and innovate to stay
competitive. Overall, the flip flops market is dynamic and
evolving, with numerous opportunities and challenges for
players.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This flip flops market report extensively covers market
segmentation by
- Distribution Channel
- End-user
- 2.1 Men/boys
- 2.2 Women/girls
- 2.3 Children
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The global flip flops market
experiences a preference for offline channels due to buyers' desire
for tactile assessment and value-added services. Offline retailers
offer customized foot checks and foot spat relief, enhancing buyer
comfort and trust. Patient salesmen provide personalized attention,
ensuring optimal look, comfort, and fitment. The retention rate for
offline channels is strong, as buyers value the advice and
interaction not available online. These factors contribute
significantly to the growth of the offline segment in the flip
flops market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The flip flops market encompasses various trends and concerns,
including health, environmental impact, and regulatory compliance.
Consumers increasingly seek sustainable and eco-friendly materials
such as papyrus, wood, and palm leaves for their flip flops. These
materials not only reduce environmental pollution but also align
with the growing demand for sustainable products. Fashion trends
and fads continue to influence the market, with graphic footwear
and personalized flip-flops gaining popularity among travelers and
end-users, particularly female ones. Solethreads and grass
flip-flops are notable examples of this trend. Geopolitical
considerations and trade tariffs can impact the market's pricing
and availability. For instance, changes in geopolitical tensions or
regulatory policies can affect the supply of raw materials or the
cost of production. Product innovations and custom fabric solutions
cater to diverse end-user segments, including those seeking
low-priced yet durable options. Companies focus on creating
high-quality, long-lasting flip flops that meet the evolving needs
and preferences of consumers. In summary, the flip flops market is
shaped by various factors, including health concerns, environmental
impact, fashion trends, regulatory compliance, geopolitical
considerations, trade tariffs, and product innovations. Sustainable
materials and eco-friendly production methods are becoming
increasingly important as consumers seek to minimize their carbon
footprint and prioritize their health and well-being.
Market Research Overview
The Flip Flops market encompasses a wide range of open-backed
sandals, popular for their comfort and versatility. These footwear
items are essential in various sectors, including leisure, sports,
and professional settings. The global market for Flip Flops is
driven by factors such as increasing consumer preference for casual
footwear, growing tourism industries, and rising disposable income
levels. Additionally, trends like eco-friendliness and
personalization are influencing the market, with many manufacturers
focusing on sustainable materials and customizable designs. The
Flip Flops market is segmented based on materials, styles, and
regions, with each segment exhibiting unique growth dynamics.
Overall, the market is expected to continue its robust expansion in
the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- End-user
-
- Men/boys
- Women/girls
- Children
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio