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

Author(s):

Product Code:KR546

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Published on

October 2017

Total pages

140

Table of Content

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About the Report

About the Report

Ken Research announced its latest publication on "Philippines Furniture Market by Type (Home – Bed Room, Living Room, Dining Room, Kitchen Furniture; Office; Hotel & Industrial), by Sales (Domestic and Export) - Outlook to 2021" provides a comprehensive analysis of the furniture market in Philippines. The report focuses on the home furniture product segments of the industry. The report covers aspects such as furniture market by its key segments including end users, major cities, organized and unorganized sectors. It also covers the home furniture market by its product categories including bedroom (Bed, Wardrobe, Dressing Table and Others), living room (Sofa, Sofa cum bed, Television, Coffee Table and Center Table), dining room and kitchen, online furniture market, children furniture, mattress market by size of mattress (King, Queen, Single), by type of mattress (Spring, Foam and others). The publication also includes competitive landscape, which discusses the major market players along with the detailed discussion about the organizations and their product portfolio. The reports also provides in depth case studies for setting up modular kitchen and home furniture in Philippines. Furthermore, the report includes snapshot on the online furniture market. The future analysis of overall Philippines Furniture Market has also been discussed along with recommendations from analyst view.
Philippines Furniture Market
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.
Philippines Furniture Market Segmentation
By End Users: Retailers existing in the space catered to the varied requirements across all categories of end users. The growing middle class population in Philippines coupled with increasing GDP of the country boosted the demand for residential property. Growing demand for housing structures was the major reason behind the augmented demand for furniture in the country. Home furniture therefore dominated the overall Philippines furniture market in 2016, followed by office, hotel and industrial sector.
By Product Categories in Home Furniture: There has been a rapid growth in real estate sector due to the demand for residential property in the country. Bedroom furniture was the highest selling product category in home furniture segment as of 2016, followed by living room furniture, kitchen furniture, dining room furniture and all other home furniture.
By Organized and Unorganized Sector: Unorganized sector dominated the market, in terms of number of manufacturers, and about 3,720 unorganized furniture companies operated in the country in 2016. Abundance of raw materials and availability of cheap, skilled labor has led to the growth of the Philippines furniture market. Lower cost of production by using the locally available resources assists them in selling products at a lower price than the one sold by established companies with multiple retail outlets in Philippines.
Snapshot on Philippines Online Furniture Market
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.
Competition
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 unorganized sector poses a stiff competition to organized players existing or entering the space due to abundance of raw material and availability of reasonably priced skilled labor. Organized players have been successful in marketing modern furniture products largely in the metro cities of the country.
Philippines Furniture Market Future Outlook and Projections
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.
Key Topics Covered in the Report:
  • 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

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

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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List of Figure

Figure 1-1: Philippines Home Furniture Market Segmentation by Product Categories (Bedroom, Living Room, Dining Room, Kitchen and Others) on the Basis of Revenues in USD Million, 2016
Figure 3-1: Value Chain Analysis for Philippines Furniture Market
Figure 3-2: Business and Working Model in Philippines Furniture Market
Figure 5-1: Philippines Furniture Market Size on the Basis of Revenue in USD Million and Growth Rate in Percentage (%), 2012-2016
Figure 5-2: Philippines Furniture Market Segmentation by Domestic and Export Market on the Basis of Revenue in Percentage (%), 2012-2016
Figure 6-1: Philippines Furniture Market Segmentation by Organized and Unorganized Sector on the Basis of Number of Players in Percentage (%), 2016
Figure 6-2: Philippines Furniture Market Segmentation by End Users (Home, Office, Hotels and Industrial) on the Basis of Revenue in Percentage (%), 2016
Figure 6-3: Philippines Furniture Market Segmentation by Cities (Cebu, Davao, Quezon, Manila, Bacolod and Others) on the Basis of Revenue in Percentage (%), 2016
Figure 7-1: Philippines Home Furniture Market Segmentation by Product Categories (Bedroom, Living Room, Dining Room, Kitchen and Others) on the Basis of Revenue in Percentage (%), 2016
Figure 7-2: Layout of a Typical 2BHK Room in Philippines
Figure 7-3: Philippines Furniture Market Segmentation by Living Room Furniture (Sofa, Sofa cum Bed, Television Sets, Coffee Table and Center Table and Others), on the Basis of Revenue in Percentage (%), 2016
Figure 7-4: Philippines Furniture Market Segmentation by Bedroom Furniture (Bed, Wardrobe, Dressing Table and Others) on the Basis of Revenue in Percentage (%), 2016
Figure 7-5: Modular Kitchen Layout in Philippines
Figure 9-1: Philippines Furniture Market Export on the Basis of Value in USD Million, 2012-2016
Figure 9-2: Philippines Furniture Market Import on the Basis of Value in USD Million, 2012-2016
Figure 17-1: Supplier Selection Matrix in Philippines Furniture Market
Figure 18-1: Average Price for Mattress in PHP, 2011-2016
Figure 18-2: Philippines Mattress Market Size on the Basis of Revenues in USD Million, 2011-2016
Figure 18-3: Philippines Mattress Market Size on the Basis of Sales Volume in Units, 2011-2016
Figure 18-4: Philippines Mattress Market Segmentation by Size of Mattresses (King Size, Queen Size and Single Size) on the Basis of Sales Volume in Percentage (%), 2016
Figure 18-5: Philippines Mattress Market Segmentation by Type of Mattresses (spring, Foam and Others) on the Basis of Revenues in Percentage (%), 2016
Figure 18-6: Philippines Mattress Market Segmentation by Market Structure (Unorganized and Organized Players) on the Basis of Revenues in Percentage (%), 2016
Figure 18-7: Philippines Mattress Market Segmentation by Urban and Rural Area on the Basis of Revenues in Percentage (%), 2016
Figure 18-8: Future Outlook and Projections for Philippines Mattress Market on the basis of Revenue in USD Million, 2017-2021
Figure 19-1: Philippines Furniture Market Future Projection on the Basis of Revenue in USD Million and Growth Rate in Percentage (%), 2017-2021
Figure 19-2: Philippines Furniture Market Future Projection by End Users (Home, Office, Hotel and Industrial) on the Basis of Revenue in Percentage (%), 2021
Figure 19-3: Philippines Home Furniture Market Future Outlook and Projections by Product Categories on the Basis of Revenue in Percentage (%), 2021
Figure 19-4: Philippines Home Furniture Market Future Outlook and Projections by Living Room Furniture (Sofa, Sofa cum Bed, Television Cabinet, Coffee Table and Center Table and Others) on the Basis of Revenue in Percentage (%), 2021
Figure 19-5: Philippines Home Furniture Market Future Projection by Bedroom Furniture (Bed, Wardrobe, Dressing Table and Others) on the Basis of Revenue in Percentage (%), 2021
Figure 21-1: Consumer Expenditure in Philippines in USD Million, 2011-2021
Figure 21-2: Number of Households in Philippines in Thousands, 2011-2021
Figure 21-3: Number of Hotel Rooms in Philippines in Units, 2011-2021
Figure 21-4: Number of Middle Class Households in Philippines in Millions, 2011-2021


List of Table

Table 2-1: Correlation Matrix of Philippines Furniture Market
Table 2-2: Regression Coefficients Output for Philippines Furniture Market
Table 4-1: Rationale and Description for Philippines Furniture Market Overview and Genesis
Table 5-1: Rationale and Description for Philippines Furniture Market Size on the Basis of Revenues, 2012-2016
Table 5-2: Philippines Furniture Market Segmentation by Domestic and Export Market on the Basis of Revenue in USD Million, 2012-2016
Table 6-1: Rationale and Description for Philippines Furniture Market Segmentation by Organized and Unorganized Sector, 2016
Table 6-2: Comparison of Organized and Unorganized Players in Terms of Raw Material Procurement, Retailing Clusters, Catered Income Segments, Major End Users, Best Selling Products, Major Sales Channels, Average Price of Products, Average Revenues Earned and Profit Margins
Table 6-3: Rationale and Description for Philippines Furniture Market Segmentation by End Users (Home, Office, Hotels and Industrial), 2016
Table 6-4: Philippines Trend in Household and Hotel Units, 2011-2016
Table 6-5: Philippines Furniture Market Segmentation by Cities (Cebu, Davao, Quezon, Manila, Bacolod and Others) on the Basis of Revenue in USD Million, 2016
Table 6-6: Number of Households and Average Size of Household in Philippines by Regions, 2016
Table 7-1: Philippines Home Furniture Market by Products Categories on the Basis of Revenue in USD Million, 2016
Table 7-2: Philippines Furniture Market Segmentation by Living Room Furniture (Sofa, Sofa cum Bed, Television Cabinets, Coffee Table and Center Table and Others), 2016
Table 7-3: Philippines Living Room Furniture Market by Products Categories on the Basis of Revenue in USD Million, 2016
Table 7-4: Rationale and Description for Philippines Furniture Market Segmentation by Bedroom Furniture (Bed, Wardrobe, Dressing Table and Others), 2016
Table 7-5: Philippines Bedroom Furniture Market by Products Categories on the Basis of Revenue in USD Million, 2016
Table 7-6: Average Price of Dining Sets in Philippines, 2016
Table 7-7: Rationale and Description for Philippines Kitchen Furniture Market, 2016
Table 7-8: Modular Kitchen Cabinet Details on the Basis of Dimensions (mm) and Price (USD)
Table 7-9: Modular Kitchen Top Table and Panel Details on the Basis of Price (USD)
Table 7-10: Modular Kitchen Fittings and Accessories Details on the Basis of Price (USD)
Table 7-11: Modular Kitchen Set up Cost on the Basis of Prices (USD) for Various Kitchen Items
Table 8-1: Trends and Developments in Philippines Furniture Market
Table 9-1: Rationale and Description for Philippines Furniture Market Export on the Basis of Value in USD Million, 2012 - 2016
Table 9-2: Philippines Furniture Market Exports by Major Destinations on the Basis of Revenue in USD Million, 2012-2016
Table 9-3: Rationale and Description for Philippines Furniture Market Import on the Basis of Value in USD Million, 2012 - 2016
Table 9-4: Philippines Furniture Market Imports by Major Destinations on the Basis of Revenue in USD Million, 2012-2016
Table 10-1: Company Profile of Our Home including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-2: Our Home Product Portfolio
Table 10-3: Company Profile of Furniture Republic including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-4: Furniture Republic Product Portfolio
Table 10-5: Company Profile of Homeplus including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-6: Homeplus Product Portfolio
Table 10-7: Company Profile of Mandaue Foam including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-8: Mandaue Foam Product Portfolio
Table 10-9: Company Profile of Philux including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-10: Company Profile of Blims Furniture including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-11: Blims Furniture Product Portfolio
Table 10-12: Company Profile of Murillo including Company Overview, Retail Outlets, Average Walk-ins, Conversion Rate, Revenue, Best Selling Products and other KPIs
Table 10-13: List of Other Major Companies in Philippines Furniture Market and their Descriptions
Table 11-1: Rationale and Description on Philippines Online Furniture Market
Table 11-2: Overview of Major Furniture e-Retailers in Philippines
Table 12-1: Overview of Major Children Furniture Retailers in Philippines
Table 13-1: Assumptions for Installing Home Furniture in Philippines
Table 13-2: Composition of Cost for Installing Bedroom Furniture
Table 13 3: Composition of Cost for Installing Living Room cum Dining Room Furniture
Table 13-4: Composition of Cost for Installing Modular / Regular Kitchen Furniture
Table 13-5: Cost for Installing Home Furniture in Philippines
Table 13-6: Assumptions for Installing Hotel Furniture in Philippines
Table 13-7: Composition of Cost for Installing Hotel Furniture
Table 14-1: Government Support for Philippines Furniture Market
Table 15-1: Entry Barriers in Philippines Furniture Market
Table 16-1: SWOT Analysis for Philippines Furniture Market
Table 17-1: Decision Making Criteria in Philippines Furniture Market
Table 18-1: Supplier Selection Criteria in Philippines Furniture Market
Table 19-1: Rationale and Description for Philippines Mattress Market Size by Revenue, and Sales Volume, 2011-2016
Table 19-2: Rationale and Description for Philippines Mattress Market Segmentation by Size of Mattresses - King Size, Queen Size and Single size on the basis of Sales Volume in Units, 2016
Table 19-3: Philippines Mattress Market Segmentation by Size of Mattresses (King Size, Queen Size and Single Size) on the Basis of Sales Volume in Units, 2016
Table 19-4: Rationale and Description for Philippines Mattress Market Segmentation by Type of Mattress (spring, Foam and Others) on the Basis of Revenues, 2016
Table 19-5: Philippines Mattress Market Segmentation by Type of Mattresses (spring, Foam and Others) on the Basis of Revenues in USD Million, 2016
Table 19-6: Rationale and Description for Philippines Mattress Market Segmentation by Market Structure – Organized and Unorganized Sector on the Basis of Revenues, 2016
Table 19-7: Philippines Mattress Market Segmentation by Market Structure-Unorganized and Organized on the Basis of Revenues in USD Million, 2016
Table 19-8: Rationale and Description for Philippines Mattress Market Segmentation by Urban and Rural Demand on the Basis of Revenues, 2016
Table 19-9: Philippines Mattress Market Segmentation by Urban and Rural Demand on the Basis of Revenues in USD Million, 2016
Table 19-10: Strategic Analysis for Mattress Manufacturers in the Future
Table 19-11: Future Outlook for Philippines Mattress Market on the Basis of Revenue, 2017-2021
Table 20-1: Rationale and Description for Philippines Furniture Market Future Outlook and Projections on the Basis of Revenue in USD Million, 2017-2021
Table 20-2: Philippines Furniture Market Future Projection by Domestic and Export Market on the Basis of Revenue in USD Million, 2017-2021
Table 20-3: Philippines Furniture Market Future Projection by End Users on the Basis of Revenue in USD Million, 2021
Table 20-4: Philippines Home Furniture Market Future Projection by Product Categories on the Basis of Revenue in USD Million, 2021
Table 20-5: Philippines Home Furniture Market Future Projection by Living Room Furniture (Sofa, Sofa cum Bed, Television Cabinet, Coffee Table and Center Table and Others) on the basis of Revenue in USD Million, 2021
Table 20-6: Philippines Home Furniture Market Future Projection by Bedroom Furniture (Bed, Wardrobe, Dressing Table and Others) on the Basis of Revenue in USD Million, 2021
Table 21-1: Analyst Recommendations for Philippines Furniture Market
Table 22-1: Rationale and Description for Consumer Expenditure in Philippines, 2011 - 2021
Table 22-2: Rationale and Description for Number of Households in Philippines, 2011 - 2021
Table 22-3: Rationale and Description for Number of Hotel Rooms in Philippines, 2011 - 2021
Table 22-4: Rationale and Description for Number of Middle Class Households in Philippines, 2011 - 2021

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