Ken Research Latest Report on “Philippines Mattress Market Outlook to 2021- Growing and Expanding Healthcare and Hospitality Sector to Augment Market Growth” provides a comprehensive analysis of mattress market in Philippines. The report covers market size, segmentation on the basis of size, type, market structure, urban and rural, region, distribution channels and end users. The report also covers market in different aspects such as trade scenario - import and export of mattresses, competitive landscape and company profiles for major players in Philippines mattress market. The report provides detailed overview on future outlook & projections with analyst recommendations for the industry.
The report facilitate the reader with an in-depth analysis of the existing and future trends, issues and challenges prevalent in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report is useful for mattress manufacturers, mattress raw material manufacturers, retailers, franchisees, home furnishing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Philippines mattress market has displayed a CAGR of ~% during the period of 2011-2016, in terms of revenue. The growth displayed by the market was supported by factors such as increasing number of hotels and rising construction activities of both residential and non-residential units. A phenomenal growth in the number of tourist arrivals to the country has played an important role in the expansion of hospitality sector in the country, leading to a surge in the demand for quality mattresses. In 2016, the amount of revenue generated by the Philippines mattress market amounted to USD ~ million. The growth exhibited by the market should also be owed to rising demand for premium quality mattresses, increasing consumer expenditure on household items, increasing number of households and other related factors.
In terms of sales volume, the market is dominated by queen size mattresses that account for a share of ~% in 2016. It is followed by the single size and king size mattresses.
On the basis of type of mattress, the market is dominated by spring mattresses that held a share of ~% in the overall market revenue in 2016 followed by foam and other types of mattresses.
During 2016, the organized market structure has a share of ~% in the overall market structure followed by the unorganized market structure.
In terms of revenue generation, the urban population has contributed the most to the Philippines mattress market in 2016 and accounted for a share of ~%. In segmentation by region, Metro manila, held the highest share in the market revenue holding a share of ~% in the overall market.
Direct distribution channel is the most preferred form of distribution by the companies and it has contributed revenue of USD ~ million in 2016 followed by the retail and online distribution channels.
Non-residential customers represent the highest contributing segment in the market in terms of revenue. In 2016, they held a share of ~% in the overall market revenue.
Philippines mattress market is concentrated with a limited number of organized market players which include mattress manufacturing companies such as Philippine Bed Manufacturing Corporation, Uratex Foam, Tempur Foam, Mandaue Foam and others. There is a significant competition in the market between the companies on the basis of price, type, functionality and channel of distribution of mattresses. All the aforementioned companies manufacture classic and premium foam and spring mattresses suitable for both residential and non-residential customers. Entry of foreign players such as Tempur, King Koil and other such players has augmented competition in the market.
Future Potential of Philippines Mattress Market
The Philippines mattress market has witnessed a considerable growth in past five years and the market is anticipated to grow at a CAGR of ~% during the forecast period, 2017-2021. The growth and expansion of healthcare and hospitality sector, increasing consumer spending and rising demand for premium quality mattresses are set to drive growth in the mattress market during the forecast period, 2017-2021. Rising number of households, increasing health concerns, growing urbanization and modernization and other related factors are set to augment the demand for premium quality mattresses during the forecast period.
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