Market Research Reports - Ken Research Homeplus Furniture Products Philippines

Philippines Furniture Market Outlook to 2021: Ken Research
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.