In 2022, the Philippines experienced a decline in consumer confidence due to rising inflation caused by higher energy prices. These price hikes were a direct result of the Russia-Ukraine conflict that started in the same year.
Vertical farming is becoming increasingly popular in the Philippines. This can be attributed to the fact that it allows urban dwellers living in small apartments to grow their own produce.
In 2022, local brands managed to capture a considerable share of the market across all categories. This is being helped by the rising use of social media, which has facilitated easier connections between local brands and consumers, resulting in increased visibility.
In 2022, the majority of consumers continued to show a preference for bricks-and-mortar stores when purchasing home and garden products, particularly given the declining numbers of COVID-19 cases and easing or lifting of pandemic restrictions. This led to an increase in visits to physical stores, enabling shoppers to physically inspect and test products before making a purchase.
The Asian Development Bank predicts that inflation in the Philippines will average 6.1% in 2023, before easing down to 4.
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Understand the latest market trends and future growth opportunities for the Home and Garden industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Home and Garden industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.See All of Our Definitions
This report originates from Passport, our Home and Garden research and analysis database.
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