The import of articles of bedding to the Philippines has shown a steady increase from recent actual data into forecasted figures. In 2023, the actual imports stood at 4.172 million kilograms. The forecast for 2024 is 4.221 million kilograms, representing a 1.2% year-on-year increase. Subsequent years also indicate slight annual increments: 1.1% in 2025, 1.1% in 2026, 1.0% in 2027, and 1.0% in 2028. Over the past two years from 2023 to 2025, we observe an average annual growth of about 1.15%. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is 1.10%.
Future Trends to Watch for:
- Technological advancements in textile manufacturing that may impact import volumes.
- Market demands influenced by lifestyle changes and economic variables.
- Potential shifts in trade policies or tariffs affecting import costs and volumes.
- Competitive dynamics from local manufacturers improving domestic production quality.