New York, United States , Aug. 09, 2024 (GLOBE NEWSWIRE) -- The Global Flip Flops Market Size is Expected to Grow from USD 19.75 Billion in 2023 to USD 29.42 Billion by 2033, at a CAGR of 4.07% during the forecast period 2023-2033.
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A thong, or Y-shaped strap, holds flip-flops also called footwear, sandals, or slippers to the foot. They are light, thin shoes with a flat sole. Their absence of a heel, open-toe design, and back strap all perfectly capture their natural skin tone. The straps and bottoms of flip-flops are often made of rubber, foam, or plastic. Flip flops are popular for warm weather activities such as beach excursions, poolside gatherings, and laid-back settings because of their comfortable and informal style. Flip flops come in a multitude of colors, designs, and patterns to accommodate a broad range of preferences and fashion trends. The more affordable and long-lasting flip-flops are the two primary factors driving the market growth. The market is increasing mostly due to the increase in the manufacture of rubber and a decrease in leather manufacturing. Rubber and other non-leather materials are rapidly replacing the place of leather due to its high cost and increased concern for sustainability. Compared to leather clothes, rubber flip-flops are quite practical on beaches, especially when on vacation, and are suitable for higher temperatures. However, Wearing flip-flops for a longer period can cause foot pain and possible foot issues like plantar fasciitis or Achilles tendinitis, especially if there is insufficient arch support.
Browse key industry insights spread across 188 pages with 120 Market data tables and figures & charts from the report on the "Global Flip Flops Market Size, Share, and COVID-19 Impact Analysis, By End-user (Female, Male), By Distribution Channel (Offline, Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The female segment is predicted to hold the largest market share through the forecast period.
Based on the end user, the flip flops market is classified into female and male. Among these, the female segment is predicted to hold the largest market share through the forecast period. Women's flip-flops are gaining popularity, businesses worldwide are concentrating on promoting environmentally friendly footwear and creating flip-flops that are comfortable enough for ladies to engage in physical activities like yoga.
The offline segment is anticipated to hold the highest market share during the projected timeframe.
Based on the distribution channel, the flip flops market is divided into offline and online. Among these, the offline segment is anticipated to hold the highest market share during the projected timeframe. The growth of this industry will be driven by the rising number of offline outlets, such as hypermarkets and brand stores, in developing countries.
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Asia Pacific is estimated to hold the largest share of the flip flops market over the forecast period.
Asia Pacific is estimated to hold the largest share of the flip flops market over the forecast period. The regions have experienced growth due to increased consumer awareness of the latest fashion trends and expenditure on fashionable apparel and footwear. International flip-flop manufacturers also focus on working with fashion labels to attract customers in different Asia-Pacific countries.
North America is predicted to have the highest CAGR growth in the flip flops market over the forecast period. The flip-flop market in the region is anticipated to grow at a higher rate because of continuous product innovation. Domestic players continue to have a benefit due to a robust nationwide distribution network.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the flip flops market include German Bionic, Havaianas, Skechers, Inc., Crocs, Deckers Brands, Fat Face, Adidas AG, DSI, C. & J. Clark International Ltd, Kappa, Nike, Inc., Tory Burch LLC, Nike, Inc., Others.
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Recent Developments
- In January 2024, the growing demand for everyday wear shoe styles, Nike launched the Nike Calm Flip Flop. These flip-flops will come in three colors sea glass, platinum violet, and black.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the flip flops market based on the below-mentioned segments:
Global Flip Flops Market, By End User
- Female
- Male
Global Flip Flops Market, By Distribution Channel
- Offline
- Online
Global Flip Flops Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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