Ken Research announced its latest publication on “Philippines Apparel and Footwear Market Outlook to 2019 – Increase in Influx of Foreign Brands” provides a comprehensive analysis of various aspects such as market size, segment on the basis of organized and unorganized sector, product categories, domestically manufactured and imported products, location of raw materials and consumer profiling. The report also includes information on sportswear market along with the contribution of online sales of apparel and footwear products.

The market of apparel and footwear products in the Philippines has been evolving at a brisk rate. Strategic partnerships, expansion of retail chains, improvement in product portfolio and increasing brand awareness have been significantly changing the market. The revenues of apparel and footwear market have been estimated to elevate to USD ~ million by the year 2019 and represent a CAGR of ~% during 2015-2019. The trade scenario of apparel and footwear products has also showcased the untapped potential of the Filipino market. The market has been dominated by low cost branded imports from China. On the other hand, export of products from the Philippines has found major markets in Japan and North America. Moreover, with the influx of more number of foreign apparel and footwear manufacturing companies, exports are likely to increase in the coming five years. As an effect of this, the competition in the domestic market has been expected to increase which will result in price wars amongst retailers.

Apparel Market
The apparel market in the Philippines, which has been driven by the demand of international products and an increase in discounts, has witnessed market revenues of USD ~ million in the year 2014. With the increase in influx of foreign brands and growth in disposable income of Filipinos, the revenue increased at a CAGR of ~% during the time frame 2009-2014. Each segment in the apparel market has been subject to a gamut of factors such as increase in young working population, elevated preference for foreign brands and growth of e-commerce market that play an important role in determining the amount of sales in the industry.

Footwear Market
The footwear market in the Philippines has bolstered at a CAGR of ~% during 2009-2014 whereas the footwear market has expanded at ~% during the same time period. Footwear production in the Philippines has been majorly propagated through manual and semi-mechanized processes. A large number of domestic companies have utilized leather as the prime raw material for footwear. Two major organizations, namely, the Philippine Footwear Federation and Sigla ni Kapitan Moy operate in the industry and have acted as business support organizations for footwear manufacturers. The footwear market in the Philippines has expanded at a CAGR of 6.9% from 2009-2014 and registered revenue from sales at USD ~ million in the year 2014. The major factors which have assisted in the growth of the industry include the preference of high valued footwear products along with a lack of replacement demand.

Sportswear Market
Sportswear has been measured as one of the most comfortable and lucrative items in the Philippines apparel and footwear market. Filipinos have been accustomed to wear casual and comfortable clothing which possesses brand value and also caters to their unique style of fashion. The market of sportswear has witnessed surge in revenues from USD ~ million in 2009 to USD ~ million in 2014. The CAGR recorded during this review period has sustained at 11.5%. Filipino women have taken more part in activities such as work-out routines, yoga exercises and sporting activities in comparison to their male counterparts. This has steered the sales of women’s sportswear products in the local market.

Online Apparel and Footwear Market
The growth of online retail of apparel and footwear products through portals such as Lazada and Zalora will act as a key variable in the development of the market in the future. The growth in number of internet and smartphone users in the country has propelled the growth of the e-commerce market. This trend is expected to continue in the next five years. The revenue from sales of online apparel and footwear products has grown at a CAGR of ~% during the time period 2009-2014 and is continue to expand at a CAGR of ~% in the next five years till 2019. Low penetration of credit cards in the Philippines has not been able to withhold the growth of the e-commerce industry. Online retail stores have developed the cash-on-delivery mechanism to assist customers and encourage a higher usage of internet for retailing.

 
Key Topics Covered in the Report:
• The market size of the Philippines apparel and footwear market.
• The market size of the Philippines apparel market.
• The market size of the Philippines footwear market.
• The market size of the Philippines online apparel and footwear market.
• The market size of the Philippines sportswear market.
• Market segmentation of the Philippines apparel and footwear market on the basis of product category, marketplace, organized and unorganized sector, product usage, seasonal demand, type of business, mechanization facilities, type of fabric and procurement source of raw materials.
• Customer profile in Philippines apparel and footwear market on the basis of age distribution, gender category and income class.
• SWOT Analysis of Philippines apparel and footwear market.
• PEST Analysis of Philippines apparel and footwear market.
• Trends and Development in the Philippines apparel and footwear market.
• Competitive landscape of major brands and retailers in the Philippines apparel and footwear market.
• Analyst recommendations.
• Future outlook and projections of Philippines apparel and footwear market on the basis of revenues.

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Source: https://www.kenresearch.com/consumer-products-and-retail/textile-apparel-and-footwear/philippines-apparel-footwear-market/5245-95.html

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