
Philippines - Brassieres - Market Analysis, Forecast, Size, Trends and Insights
Philippines: Brassiere Market 2023
Brassiere Market Size in the Philippines
For the third consecutive year, the Philippine brassiere market recorded decline in sales value, which decreased by -1.5% to $X in 2021. In general, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.0% against 2018 indices. Brassiere consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.
Brassiere Production in the Philippines
In value terms, brassiere production declined to $X in 2021 estimated in export price. Overall, production posted slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 125%. Brassiere production peaked at $X in 2020, and then reduced slightly in the following year.
Brassiere Exports
Exports from the Philippines
In 2021, the amount of brassieres of textile materials, whether or not elasticated exported from the Philippines expanded remarkably to X units, with an increase of 6.1% against the previous year. Over the period under review, exports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2013 when exports increased by 56% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.
In value terms, brassiere exports soared to $X in 2021. In general, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2013 when exports increased by 89%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
The United States (X units) was the main destination for brassiere exports from the Philippines, accounting for a 68% share of total exports. Moreover, brassiere exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was taken by Canada (X units), with a 2.2% share.
From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+8.7% per year) and Canada (-2.4% per year).
In value terms, the United States ($X) remains the key foreign market for brassieres of textile materials, whether or not elasticated exports from the Philippines, comprising 68% of total exports. The second position in the ranking was taken by South Korea ($X), with a 28% share of total exports. It was followed by Canada, with a 2.2% share.
From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+23.2% per year) and Canada (+10.2% per year).
Export Prices by Country
The average brassiere export price stood at $X per unit in 2021, picking up by 9.3% against the previous year. Over the period under review, the export price recorded a buoyant increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 71% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.
Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the UK ($X per unit) and Japan ($X per unit), while the average price for exports to South Korea ($X per unit) and the United States ($X per unit) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.
Brassiere Imports
Imports into the Philippines
In 2021, supplies from abroad of brassieres of textile materials, whether or not elasticated decreased by -2.3% to X units, falling for the fourth consecutive year after six years of growth. Overall, imports recorded a perceptible curtailment. The growth pace was the most rapid in 2015 when imports increased by 73%. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.
In value terms, brassiere imports shrank modestly to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -33.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 28%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.
Imports by Country
In 2021, China (X units) constituted the largest brassiere supplier to the Philippines, accounting for a 78% share of total imports. Moreover, brassiere imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. The third position in this ranking was taken by Indonesia (X units), with a 4.8% share.
From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+0.8% per year) and Indonesia (-5.3% per year).
In value terms, China ($X) constituted the largest supplier of brassieres of textile materials, whether or not elasticated to the Philippines, comprising 55% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 17% share of total imports. It was followed by Thailand, with a 9.7% share.
From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+6.0% per year) and Thailand (-12.4% per year).
Import Prices by Country
In 2021, the average brassiere import price amounted to $X per unit, rising by 2.1% against the previous year. In general, the import price showed a strong increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by 96%. The import price peaked in 2021 and is likely to see gradual growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
This report provides an in-depth analysis of the brassiere 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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