In 2023, the import of tufted carpets and floor coverings to the Philippines stood at 16.402 million US Dollars. The forecasted data show a steady increase each year from 2024 to 2028, starting at 17.074 million USD and reaching 19.823 million USD by 2028. Year-on-year variations are foreseen to be around 4-5%, indicating consistent growth. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is projected to be approximately 4.2%.
Future trends to watch for include potential impacts from global supply chain disruptions, fluctuating raw material costs, and changes in consumer preferences toward sustainable and eco-friendly products. Additionally, economic policies and trade agreements affecting import tariffs could also play a significant role in shaping the trend.
