Report Update: May 1, 2024

Philippines - Braces, Suspenders And Garters - Market Analysis, Forecast, Size, Trends And Insights

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Braces and Garters Price in the Philippines - 2023

Braces and Garters Price in the Philippines (CIF) - 2022

The average braces and garters import price stood at $4.3 per unit in 2022, waning by -3.6% against the previous year. Over the period under review, the import price, however, posted significant growth. The pace of growth appeared the most rapid in 2018 an increase of 287% against the previous year. The import price peaked at $4.4 per unit in 2021, and then dropped slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($4.3 per unit) and Vietnam ($4.3 per unit), while the price for China ($4.3 per unit) and Hong Kong SAR ($4.3 per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+44.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Braces and Garters Price in the Philippines (FOB) - 2022

The average braces and garters export price stood at $5.7 per unit in 2022, which is down by -4.3% against the previous year. In general, the export price, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 83%. Over the period under review, the average export prices attained the maximum at $6 per unit in 2021, and then dropped in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($5.7 per unit), while the average price for exports to Japan amounted to $5.7 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+20.5%).

Braces and Garters Imports in the Philippines

In 2022, the amount of braces, suspenders and garters imported into the Philippines declined rapidly to 804K units, which is down by -32.5% compared with 2021 figures. Over the period under review, imports saw a dramatic decline. The pace of growth appeared the most rapid in 2021 with an increase of 66%. Over the period under review, imports attained the peak figure at 2.1M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, braces and garters imports dropped rapidly to $3.4M in 2022. In general, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. Over the period under review, imports attained the peak figure at $5.4M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Import of Braces and Garters in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	3,225	1,755	2,830	1,721	-18.9%
Hong Kong SAR	1,048	895	1,472	1,343	8.6%
Taiwan (Chinese)	303	127	213	120	-26.6%
Thailand	480	180	345	101	-40.5%
Vietnam	17.5	42.4	193	76.4	63.4%
Others	287	88.1	231	76.9	-35.5%
Total	5,362	3,087	5,284	3,439	-13.8%

Top Suppliers of Braces and Garters to the Philippines in 2022:

China (402.3K units)
Hong Kong SAR (314.0K units)
Taiwan (Chinese) (27.9K units)
Thailand (23.7K units)
Vietnam (17.9K units)

Braces and Garters Exports in the Philippines

Braces and garters exports from the Philippines fell markedly to 28K units in 2022, declining by -40.1% on 2021 figures. Overall, exports showed a sharp decrease. The exports peaked at 1.1M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, braces and garters exports dropped significantly to $159K in 2022. Over the period under review, exports showed a sharp decrease. Over the period under review, the exports reached the peak figure at $4.5M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Export of Braces and Garters in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	3,596	526	31.5	83.4	-71.5%
Japan	752	123	241	74.7	-53.7%
France	188	N/A	N/A	N/A	0%
Others	12.8	93.9	5.0	1.2	-54.6%
Total	4,549	742	277	159	-67.3%

Top Export Markets for Braces and Garters from the Philippines in 2022:

United States (14.6K units)
Japan (13.0K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the braces and garters market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 14142570 - Braces, suspenders, garters and similar articles and parts thereof

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023