According to a market report, published by Sheer Analytics and Insights, The global flip flops market was valued at $18.6 billion in 2021 and it is expected to reach $42.1 billion at a CAGR of 7.6% between 2022 and 2032. Flip-flops are a pleasant and informal style of footwear. A Y-shaped strap that passes across the top of the foot and in between the first and second toes is attached to the flat sole. Flip-Flops have been around since 4,000 BC. At first, the sandals were altered to fit American culture. It quickly gained popularity as summer footwear all around the world and was strongly linked to the beach lifestyle, particularly among women. Additionally, flip-flops are incredibly lightweight and portable, which is also increasing demand for them all over the world. In addition, consumer demand for eco-friendly goods is driving businesses to create sustainable products due to growing worries about environmental contamination. Therefore, these factors are driving the market growth.
To increase sustainability, some flip-flop manufacturers donate a portion of their profits to environmental organizations. Due to rising internet and smartphone usage from 2022 to 2032, it is predicted that the online distribution channel will have the fastest CAGR. Furthermore, there are numerous kinds, brands, and designs of Flip Flops to choose from. Classic flip-flops are transformed into fashionable and practical footwear by ever-changing fashion trends. Various kinds are available. These include, among others, Rubber Flip-Flops, Leather Strap, Straw-Lined Flip-Flops, Suede Flip-Flops, Wedge Heel Flip-Flops, Slides, and Slipper Flip-Flops, all of which provide the consumer with a wide selection based on their requirements. These major factors would drive the flip-flops market growth during the forecast period.
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Furthermore, the need for attractive, cozy, and fashionable footwear is driving a quick rise in the global flip-flop market. The Global Flip Flops Market is expanding as a result of several factors, including increasing product varieties, increased indoor and outdoor use of Flip Flops, style addiction among consumers, rising disposable income, and simple accessibility of the product both online and offline. In recent years, polyvinyl chloride and ethylene vinyl acetate have become some of the additional raw materials utilized to make flip-flops. Flip-flops have traditionally been worn while surfing on beaches. They are simple to obtain and have been worn in hot weather. Hence, these rising factors are expected to create more growth opportunities for the market in the future.
Additionally, rising disposable income across all demographic groups, particularly in developing nations, is anticipated to support product demand in the coming years. Leading companies' growing desire to manufacture eco-friendly flip-flops may drive the industry as a whole in the coming years. On the other hand, the non-disposable raw materials employed in flip-flop production will restrain the market's expansion over the ensuing years.
Some new developments in the global flip flops market:
According to the study, key players dominating the global flip flops market are Adidas (Germany), Allbirds (U.S), BasicNet (Italy), Crocs (U.S), C & J Clarks International ltd (U.K), Deckers Outdoor Corporation (U.S), Fat Face (France), Grendene (Brazil), Kappa (Italy), Itausa (Brazil), Nike (U.S), Relaxo (India), Roxy (U.S), Skechers (U.S), TapeStry (U.S), Tory Burch LLC (U.S), among others.
The Global Flip Flops Market Has Been Segmented Into:
The Global Flip Flops Market – by End-User Type:
The Global Flip Flops Market – by Distribution Type:
The Global Flip Flops Market – by Regions:
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