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Philippines Home Furniture Market is Expected to Contribute 45% to overall Revenue in 2021: Ken Research

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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. For more information on the market research report please refer to the below link: – PowerPoint PPT presentation

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Title: Philippines Home Furniture Market is Expected to Contribute 45% to overall Revenue in 2021: Ken Research


1
Philippines Home Furniture Market is Expected to
Contribute 45 to overall Revenue in 2021 Ken
Research
2
Growth in international tourism in the country is
expected to augment the number of hotels rooms in
Philippines to rise from 57,233 in 2016 to
100,682 by 2021. This represents growth at a CAGR
of 12.0 for the period 2016-2021. 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.
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  • The report titled 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 by Ken Research suggested the
    furniture market is anticipated to grow at a CAGR
    of 15.5 during the period 2016-2021.
  • The abundance of natural resources with extensive
    plantations of bamboo and rattan in the
    Philippines are anticipated to invite foreign
    entrants to cater the growing needs for furniture
    in the country. Worlds largest furniture
    retailer, IKEA, has announced its plans to set up
    its first store in Philippines by the end of
    2017.
  • French furniture manufacturer Gautier forayed
    into Philippines last year by opening its first
    store in Shangri-La in March 2016. The company
    intends to open several new stores in the country
    in next 2-3 years. The company is renowned
    worldwide for its high quality,

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efficient after-sales service and offers long
term warranty on several products. 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 44.5 million internet users (penetration
rate of over 43.0) 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
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2016 are Lorenz Furniture, Urban Concepts,
Homeplus, Blims Furniture, Philux, Murillo,
Furniture Republic, Bonny Furniture and
others. Key Topics Covered in the
Report Children furniture market analysis Kids
Furniture Market Size Philippines Industrial
Furniture Industry Philippines Cebu Sales
Furniture Philippines Mattress market revenue and
outlook Wardrobes Market Philippines Home
Furniture Sales Manila Center Table Sales
Philippines Best Selling Furniture
Philippines Challenges Furniture
Philippines Dining Room Furniture Philippines
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  • Mandaue Foam Furniture Philippines
  • Our Home Furniture Sales Philippines
  • Sofa Furniture Market Philippines
  • Export Sales Furniture Philippines
  • For more information on the market research
    report please refer to the below link
  • https//www.kenresearch.com/consumer-products-and-
    retail/home-and-office-furnishings/philippines-hom
    e-furniture-market/142263-95.html
  • Related Report by Ken Research
  • https//www.kenresearch.com/consumer-products-and-
    retail/home-and-office-furnishings/indonesia-home-
    furniture-market/141094-95.html

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https//www.kenresearch.com/consumer-products-and-
retail/home-and-office-furnishings/china-furniture
-market-report/35851-95.html https//www.kenresea
rch.com/consumer-products-and-retail/home-and-offi
ce-furnishings/india-furniture-market-research-rep
ort/8520-95.html Contact Ken Research Ankur
Gupta, Head Marketing Communications query_at_kenre
search.com 91-124-4230204
8
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