The apparel and footwear market in Philippines will continue to grow at a considerable pace in the next five years with the increase in demand from the local population fuelled by rise in personal disposable income. The market is estimated to expand at a CAGR of ~% during the time period 2015-2019 and is expected to cross USD ~ million by 2019. The future of the industry has been predicted to observe establishment of more number of local manufacturing units, which will lead to price competition and result in an increase in sales. Spurring investments and setting-up of new retail stores with latest fashionable products in both urban and rural area will drive the growth of the industry in the future. Moreover, the expansion of the e-commerce industry which has been observed to offer significant discount on products will likely receive more acceptance by Filipinos with an increased usage of digital devices such as smart phones, laptops and tablets. The introduction of online retail is expected to rapidly add to the growth of the market in the coming five years.
Furthermore, with an increase in manufacturing costs, majorly due to rise in labor wages, more number of international brands have been expected to establish manufacturing facilities within the Philippines. This will assist in the growth of the apparel and footwear industry in the Philippines, in addition to decline in product prices. As a result of low pricing, exports of these products to major markets and other developing nations will likely increase in the coming five years. This will not only result in brand recognition of foreign companies but will also provide domestic companies with an opportunity to expand in international markets.
According to an industry veteran, “the scope of apparel and footwear companies to expand in the Filipino market has been immense, especially with the preference of the local population to purchase latest fashionable products. New designs which are followed in more advanced nations have gained more acceptances amongst the local people and the expansion of retail stores of international brands in remote areas will bolster future growth.”
“Increase in spending power and rising number of younger working class people is essential to take the market to a next level of growth in the country. This will probably lead to partnerships and alliances with technically efficient small scale players which in turn would lead to a diversified product line of the major players. The competition in the market will likely be concentrated in the hands of major international companies.”- According to the Research Analyst, Ken Research.
The report titled "Philippines Apparel and Footwear Market Outlook to 2019" provides detailed overview on the apparel and footwear market in the Philippines and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, apparel and footwear manufacturers, retailers, department stores, shopping arcades and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Key Topics Covered in the Report:
Apparel and Footwear Market
- Apparel and Footwear Market Size by Revenue
- Market Segmentation by
- Apparel Products
- Footwear Products
- Organized and Unorganized Sectors
- Market Place
- Seasonal Demand
- Regional Demand
- Type of Business – sole proprietorship, corporation, partnership
- Mechanization Facilities – fully mechanized, semi-mechanized, manual labor
- Apparel Market Size by Revenue
- Market Segmentation by
- Gender Category
- Age Group
- Type of Fabric
- Type of Usage
- Footwear Market Size by Revenue
- Market Segmentation by
- Footwear Categories
- Type of Material
- Type of Business
- Sportswear Market Size by Revenue
- Market Segmentation by
- Gender Category
- Age Group
- Organized and Unorganized Sector
- Online Apparel and Footwear Market Size by Revenue
- Market Segmentation by
- Product Category
- Trends and Development
- Major Challenges
- Growth Drivers
- SWOT
- Export and Import
- Competition
- Future Outlook
- Macro Economic Parameters
Key Products Mentioned in the Report
Apparel Products
- Cotton, Silk, Linen and others
Footwear Products
- Running/ walking footwear, regular footwear, sports footwear and others
Companies Covered in the Report
Local
Bench
Penshoppe
Golden ABC
SM Group
Robinsons Retail
Global
H&M
Forever 21
Giordano
CottonOn
Nike
Adidas
Puma
GB Shoes
Rusty Lopez
Converse
Uggs
Vans
Toms
Online Players
Lazada
Zalora
eBay
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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249