Philippines Furniture Market Outlook to 2021
By Type (Home - Bed Room, Living Room, Dining Room, Kitchen Furniture; Office; Hotel & Industrial), by Sales (Domestic and Export)
Region:Asia
Product Code:KR546
October 2017
140
About the Report
The furniture market of Philippines witnessed growth at a CAGR of 16.7% during the period 2012-2016. Rise in number of furniture manufacturers and retail outlets largely contributed to the growth in market revenues. Furthermore, rise in urbanization generated increased demand for furniture from residential, hotels, office and industrial sectors during the period. Over ~ furniture manufacturers directly employed over ~ workers, with another ~ being indirectly employed. Additionally, increasing awareness among the customers about online sales and e-commerce portals for furniture along with the expansion in services of e-retailers including Lorenz Furniture has also been a significant factor which has positively impacted Philippines furniture market during recent years.
Sales for furniture in Philippines have been dominated by offline retail outlets, franchisee outlets, showrooms and exclusive stores of manufacturers and major players operating in the space. Despite having approximately 44.5 million internet users in the country during 2016, online sales of furniture contributed poorly to the overall market revenues during the same year. Online players faced stiff competition from brick and mortar stores all across the country, which offered a wide variety of products at competitive prices. All companies selling via online channel had at least one offline store and are yet to register significant traffic and product orders through online in the country. The major players which have dominated the revenues of online furniture sales in 2016 are Lorenz Furniture, Urban Concepts, Homeplus, Blims Furniture, Philux, Murillo, Furniture Republic, Bonny Furniture and others.
The furniture industry in Philippines is highly competitive owing to large number of companies, both domestic and international, offering furniture products at competitive prices with limited variations in design and aesthetics. Furniture products of all price segments, including cheap, mid-segment and luxurious/premium ones are designed by several manufacturers to cater to customers of all classes. Generally, manufacturers and retailers focus on targeting a particular customer segment based on purchasing power of consumers. Despite the presence of international brands, the unorganized players largely cater to the furniture demands of the country. They offer cheaper and customized solutions for furniture needs across the country.
The furniture market is expected to grow at an impressive rate during 2017-2021. Rise in domestic as well export demand of furniture products is anticipated to result in market growth. Since tourism based enterprises such as hotels, restaurants, museums and leisure service providers face growing needs to update their amenities; the demand for unique furniture items is expected to rise sharply. Apart from the robust hotel sector, construction of more condominiums and residential houses in the country is expected to drive the growth of the industry in the coming years. The property sector’s strong growth and families’ easier access to housing credit will also increase demand for household items and most importantly furniture products.
- Philippines Furniture Market Size by Revenue
- Philippines Furniture Market Segmentation By Organized and Unorganized Sector, By End Users (Home, Office, Hotels and Industrial), By Major Regions, By Product Categories in Home Furniture, By Bedroom Furniture, By Living Room Furniture, By Dining Room Furniture, By Kitchen Furniture, 2016
- Snapshot on Philippines Online Furniture Market
- Philippines Furniture Market Trade Scenario
- SWOT Analysis for Philippines Furniture Market
- Trends and Developments in Philippines Furniture Market
- Entry Barriers in Philippines Furniture Market
- Case Studies for Installing Modular Kitchen and Home Furniture
- Company Profiles of Major Furniture Market Players
- Future Outlook for Philippines Furniture Market
- Analyst Recommendation
- Macro-Economic Factors Impacting Philippines Furniture Market
Products
Philippines Furniture Market by end users (home, office, hotels and industrial), by organized and unorganized, by cities (Cebu, Davao, Quezon, Manila, Bacolod ad others), by home furniture market Product Categories (Bedroom, Living Room, Dining Room, Kitchen and Others), by Living Room furniture (Sofa, Sofa cum bed, Television, Coffee Table and Center Table), by Bedroom furniture (Bed, Wardrobe, Dressing Table and Others), online furniture market, children furniture, mattress market by size of mattress ( King, Queen, Single), by type of mattress (Spring, Foam and others), by market structure (Organized and unorganized), by urban and rural Demand
Companies
Our Home, Furniture Republic, Home Plus, Mandaue Foam, Philux, Blims Furniture, Murillo, Lorenz Furniture, Urban Concepts, Homeplus, Blims Furniture, Philux, Murillo, Furniture Republic, Bonny Furniture
Table of Contents
1. Executive Summary
Market Overview
Market Segmentation for Philippines Furniture Market
Snapshot on Philippines Online Furniture Market
Future Outlook and Projections
2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Size and Modeling
Approach – Market Sizing
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Limitations
Final Conclusion
3. Value Chain Analysis for Philippines Furniture Market
Challenges in Value Chain
Stock Keeping Units
3.1. Business and Working Model in Philippines Furniture Market
4. Philippines Furniture Market Overview and Genesis
5. Philippines Furniture Market Size by Revenues, 2012-2016
6. Philippines Furniture Market Segmentation
6.1. By Organized and Unorganized Sector, 2016
6.2. By End Users (Home, Office, Hotels and Industrial), 2016
6.3. By Cities (Cebu, Davao, Quezon, Manila, Bacolod and Others), 2016
7. Philippines Home Furniture Market Segmentation
7.1. By Product Categories (Bedroom, Living Room, Dining Room, Kitchen and Others), 2016
7.1.1. Philippines Home Furniture Market Segmentation by Living Room Furniture (Sofa, Sofa cum Bed, Television Sets, Coffee Table and Center Table), 2016
7.1.2. Philippines Home Furniture Market Segmentation by Bedroom Furniture (Bed, Wardrobe, Dressing Table and Others), 2016
7.1.3. Philippines Dining Room Furniture Market, 2016
7.1.4. Philippines Kitchen Furniture Market, 2016
Case Study to set up a Modular Kitchen in Philippines
8. Trends and Developments in Philippines Furniture Market
9. Trade Scenario for Philippines Furniture Market
9.1. By Exports, 2012-2016
9.2. By Imports, 2012-2016
10. Competitive Landscape for Major Players in Philippines Furniture Market
Company Profiles
10.1. Our Home
10.2. Furniture Republic
10.3. Homeplus
10.4. Mandaue Foam
10.5. Philux
10.6. Blims Furniture
10.7. Murillo
10.8. Other Companies
11. Snapshot on Philippines Online Furniture Market
12. Snapshot on Philippines Children Furniture Market
13. Case Study for Installing Home and Hotel Furniture in Philippines
13.1. Case Study for Installing Home Furniture in Philippines
13.2. Case Study for Installing Hotel Furniture in Philippines
14. Government Rule and Regulations
15. Entry Barriers in Philippines Furniture Market
16. SWOT Analysis for Philippines Furniture Market
17. Decision Making Criteria in Philippines Furniture Market
18. Supplier Selection Criteria in Philippines Furniture Market
19. Philippines Mattress Market
Genesis of Mattress Market and Major Players
Transformation of Rural to Urban Augmenting Market Growth
19.1. Philippines Mattress Market Size by Revenue and Sales Volume, 2011-2016
19.2. Philippines Mattress Market Segmentation
19.2.1. By Size of Mattress – King, Queen and Single Size, 2016
19.2.2. By Type of Mattress – Spring, Foam and Others, 2016
19.2.3. By Market Structure – Organized and Unorganized, 2016
19.2.4. By Urban and Rural Demand, 2016
19.3. Competitive Landscape of Major Players in Philippines Mattress Market
19.4. Philippines Mattress Market Future Outlook and Projections, 2017-2021
20. Philippines Furniture Market Future Outlook and Projections, 2017-2021
20.1. By End Users (Home, Office, Hotel and Industrial), 2021
20.2. By Product Categories (Living Room, Bedroom, Dining Room, Kitchen and Others), 2021
By Living Room Furniture, 2021
By Bedroom Furniture
21. Analyst Recommendations
22. Macroeconomic Factors Impacting Philippines Furniture Market
22.1. Consumer Expenditure in Philippines, 2011-2021
22.2. Number of Households, 2011-2021
22.3. Number of Hotel Rooms, 2011-2021
22.4. Middle Class Households, 2011-2021
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