PROSPECTS AND OPPORTUNITIES
Stable growth expected in home furnishings, supported by macroeconomic stability
Home furnishings is projected to see modest growth over the forecast period, supported by a stable macroeconomic outlook, ongoing real estate and housing developments, urbanisation, and continuous innovation in the retail landscape. Moderate inflation levels and rising consumer confidence are expected to encourage discretionary spending on both decorative and functional home items.
Ongoing urbanisation and LED adoption will support sales of lighting in the years ahead
Lighting is expected to remain the most dynamic subcategory over the forecast period. The continued expansion of urban areas and new real estate developments are driving demand for advanced lighting solutions in both residential and commercial settings, generating strong interest in energy-efficient and design-oriented fixtures.
Innovations in biodegradable fibre furniture predicted over the forecast period
Over the forecast period, home furnishings is expected to be characterised by ongoing innovation across multiple subcategories. Building on the momentum of its “Green Choice” eco-friendly line, Our Home plans to launch a new collection of biodegradable-fibre furniture, including side tables, shelving units, and accent stools.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Furnishings industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Furnishings industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Furnishings in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Furnishings in Philippines?
- Which are the leading brands in Home Furnishings in Philippines?
- How are products distributed in Home Furnishings in Philippines?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Home Furnishings?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home Furnishings?
- Where is future growth expected to be most dynamic?
Home Furnishings in the Philippines - Category analysis
KEY DATA FINDINGS
Home furnishings enjoys robust current value growth in 2024
Firefly Electric & Lighting Co enjoys dynamic performance due to evolving product portfolio
Strategic store expansions help homewares and home furnishing stores prevail as the most dynamic distribution channel
Stable growth expected in home furnishings, supported by macroeconomic stability
Ongoing urbanisation and LED adoption will support sales of lighting in the years ahead
Innovations in biodegradable fibre furniture predicted over the forecast period
Home and Garden in the Philippines - Industry Overview
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
The following categories and subcategories are included:
Home Furnishings
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- Bath Textiles
- Bed Textiles
- Kitchen and Dining Textiles
- Living Room Textiles
- Rugs
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- Beds
- Chests of Drawers
- Mattresses
- Wardrobes
- Dining Furniture
- Home Office Furniture
- Kitchen Furniture
- Living Room Furniture
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- Sofa Beds
- Other Sofas
- Other Sitting Furniture
- Storage Furniture
- Other Indoor Furniture
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- Blinds
- Curtains
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- Charcoal Barbecues
- Electric Barbecues
- Gas Barbecues
- Outdoor Furniture
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- Lighting Fixtures
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- Incandescent Lamps
- Halogen Lamps
- Linear Fluorescent Lamps (LFL)
- Compact Fluorescent Lamps (CFL)
- Light-Emitting Diode Lamps (LED)
Home Furnishings
The furniture and other moveable articles in a home that are necessary or useful for comfort and convenience. Items must be new when sold to the consumer; second-hand/used home furnishings are excluded. Antiques are also excluded. Home furnishings refers to indoor living (home textiles, indoor furniture and window coverings), outdoor living (BBQ's, garden sheds and outdoor furniture) and lighting (lighting sources and light fixtures).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Furnishings research and analysis database.
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