PROSPECTS AND OPPORTUNITIES
Fast-growing economy is expected to drive strong sales growth
The Philippines is expected to register one of the strongest growth rates for refrigeration appliances in Asia Pacific over the forecast period, as the penetration rate of such appliances remains relatively low, at around 50%. As the country is expected to reach upper-middle income status in 2025 according to the World Bank and over 6% GDP growth annually, more people will be able to afford refrigeration appliances.
E-commerce growth remains moderate while online engagement can drive awareness
Filipino consumers do not trust e-commerce as much when making big-ticket purchases as small-ticket ones. There are many stories about products being damaged on the road or not arriving, which makes consumers more anxious.
Aggressive expansion from Chinese brands to change market landscape
Midea and TCL have kickstarted their ambitious plans in the Philippine market by releasing more affordable products while still pushing for innovation. These brands can compete on pricing with local brands while being more active in releasing multiple new products every year.
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Overview:
Understand the latest market trends and future growth opportunities for the Refrigeration Appliances 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 Refrigeration Appliances 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 Refrigeration Appliances 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 Refrigeration Appliances in Philippines?
- Which are the leading brands in Philippines?
- How are products distributed in Philippines?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Refrigeration Appliances in the Philippines - Category analysis
KEY DATA FINDINGS
Continued economic uncertainty and changing priorities
Growing awareness of energy efficiency and smart features
Panasonic and LG remain top of mind amidst cheaper alternatives
Fast-growing economy is expected to drive strong sales growth
E-commerce growth remains moderate while online engagement can drive awareness
Aggressive expansion from Chinese brands to change market landscape
Consumer Appliances in the Philippines - Industry Overview
Consumer appliances in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer appliances?
DISCLAIMER
The following categories and subcategories are included:
Refrigeration Appliances
- Built-in Refrigeration Appliances
- Freestanding Refrigeration Appliances
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- Built-in Electric Wine Coolers/Chillers
- Freestanding Electric Wine Coolers/Chillers
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- Built-in Freezers
- Freestanding Freezers
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- Built-in Fridge Freezers
- Freestanding Fridge Freezers
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- Built-in Fridges
- Freestanding Fridges
Refrigeration Appliances
Refrigeration appliances considers built-in and freestanding major appliances in the following categories: fridge freezers, fridges, freezers and electric wine coolers chillers.
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 Refrigeration Appliances research and analysis database.
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