Philippines

Tobacco in the Philippines saw overall growth fall in both volume and current value terms in 2023, driven in large part the persistent downfall of cigarettes, which continued to decline while cigars and cigarillos enjoyed stable demand within a niche…

Smokeless tobacco, e-vapour products and heated tobacco in the Philippines benefited from regulatory efforts in 2023. Thanks to the proliferation of legislation that oversees production and sale of vapour products, e-vapour products and heated…

In 2023 in the Philippines, cigars, cigarillos and smoking tobacco was spared the hindrances that beset cigarettes, benefitting from its products’ positioning as niche and appealing to a loyal consumer audience. Cigars Local consumers who gravitate…

Cigarette sales in the Philippines continued to see deep declines in both volume and current value terms in 2023, in a trend that is accelerating in 2024 as manufacturers struggle to generate domestic demand through retail. Beyond the inflationary…

Homewares saw current value growth in the Philippines in 2023. During the year, there was a notable increase in demand for homewares products made from metal. This stemmed from multiple factors. Firstly, there was a robust demand for stainless steel…

Home improvement saw double-digit current value growth in the Philippines in 2023. During the year, decorative paint witnessed notable growth due to several key factors. Firstly, the booming real estate sector directly fuelled demand for home paint,…

Home furnishings saw an increase in current value sales in the Philippines in 2023. Hybrid work models have surged in popularity in the Philippines, driven by a strong preference amongst Filipino workers for flexible arrangements. This shift, with…

The home and garden industry in the Philippines experienced growth in 2023, despite inflationary pressures, as there was an increase in disposable income and higher employment rates. This provided consumers with more spending power, driving demand…

Gardening saw current value growth in the Philippines in 2023. The surge in the popularity of pots and planters during the year can be attributed to the growing demand for potted plants, which has influenced consumer behaviour significantly. Firstly,…

The market for sunglasses in the Philippines is expected to see dynamic growth in current value terms in 2024, continuing the trend of the previous year. This will be in the context of gradually improving economic conditions, which will encourage…

The market for spectacles in the Philippines is expected to see significant growth in current value terms in 2024. This will be in the context of gradually improving economic conditions, including government efforts to contain inflation, which will…

The market for eyewear in the Philippines is expected to see significant growth in current value terms in 2024, with sales rising in all three categories. This will be in the context of gradually improving economic conditions, including government…

The market for contact lenses and solutions in the Philippines is expected to see dynamic growth in current value terms in 2024, driven by greater accessibility. Accelerated urbanisation has led to the emergence of a growing number of optical goods…

In 2023, the Philippines’ real GDP growth slowed to 5.2%, but still surpassed the Asia Pacific average, driven by robust domestic consumption. The economy is projected to accelerate in 2024, with a forecast compound annual growth rate of 6.1% over…

Video games continued to outperform traditional toys and games in 2023, with the category continuing to record healthy growth in current value terms despite the challenging market conditions. Nonetheless, the picture varied between the performance of…

2023 was a tough year for sales of traditional toys and games in the Philippines with elevated inflation and a sharp rise in the cost of living forcing many households to exercise greater caution in their discretionary spending. Despite these…

Toys and games in the Philippines saw steady growth in current value terms in 2023, albeit growth was more stable compared to the dynamism of the previous two years. Several factors shaped consumer purchasing behaviour and market trends in 2023.…

In 2023, in addition to driving up the prices of pet food, inflation also drove up prices for pet products in the Philippines, due to rising manufacturing and distribution costs. This put a strain on pet owners’ budgets. Therefore, although retail…

In 2023, pet care in the Philippines saw a notable slowdown in retail current value growth, indicating a loss of momentum compared with previous years, when the pandemic drove an increase in pet ownership. The slowdown in this year was mainly…

In 2023, other pet food saw notable retail volume and current value declines in the Philippines, with falling sales across bird food, fish food, and small mammal/reptile food, which can be attributed to inflation and rising prices. In 2024, sales of…