As an important component of the Philippines' wood and furniture exports, the export of Philippine wooden furniture is influenced by global market demand, international trade conditions, domestic production in Philippines and other factors. According to the analyst, the export volume of Philippine wooden furniture has seen continuous growth in recent years.
The analyst has analyzed that in 2023, the total export value of Philippine wooden furniture reached USD 211 million, and with sustained growth in international demand in 2024, the cumulative export value of Philippine wooden furniture from January to June has already approached USD 92 million. It is expected that market demand for wooden furniture will continue to expand in the coming years.
According to the analyst, countries such as the United States, Singapore, Canada, the Netherlands, South Korea, and Japan are the main destinations for Philippine wooden furniture exports. Among them, Japan is the largest export market, accounting for more than 70% of the total export value of Philippine wooden furniture.
The analyst indicates that from 2021 to 2024, the main companies importing wooden furniture from the Philippines include NIHON SANGYO CO LTD, VINO CO, LTD, and SERENA AND LILY LLC.
Philippine wooden furniture is primarily produced for export, with many exporters being subsidiaries of international wooden furniture manufacturers and distributors operating in the Philippines. Major exporters of Philippine wooden furniture include SCAD SERVICE (S) PTE LTD, CATALINA EMBROIDERIES INC, and BERBEN WOOD INDUSTRIES INC.
Overall, the Philippines, with its abundant wood resources, low labor costs, and favorable trade environment, has become a key global producer and exporter of wooden furniture. As an indispensable part of household life, wooden furniture holds an important position in the furniture market. With ongoing technological advancements and market expansion, the quality and competitiveness of Filipino wooden furniture have further improved. Additionally, the Philippine government continues to support the furniture industry, promoting industry transformation, upgrading, and brand development.
The analyst forecasts that with the global economic recovery and rebound in consumer demand, as well as the joint efforts of the Philippine government and enterprises, the export market for Philippine wooden furniture is expected to expand continuously in the future.
Topics covered:
- the Import and Export of Wooden Furniture in the Philippines (2021-2024)
- Total Export Volume and Percentage Change of Wooden Furniture in the Philippines (2021-2024)
- Total Export Value and Percentage Change of Wooden Furniture in the Philippines (2021-2024)
- Total Export Volume and Percentage Change of Wooden Furniture in the Philippines (January-June 2024)
- Total Export Value and Percentage Change of Wooden Furniture in the Philippines (January-June 2024)
- Average Export Price of Wooden Furniture in the Philippines (2021-2024)
- Top 10 Export Destinations for the Philippines Wooden Furniture and their Import Volume
- Top 10 Suppliers in the Export Market of Wooden Furniture in the Philippines and their Export Volume
- Top 10 Buyers in the Export Market of Wooden Furniture in the Philippines and their Import Volume
- How to Find International Distributors and End Users of Wooden Furniture in the Philippines
- How Foreign Enterprises Enter the Wooden Furniture Export Market of the Philippines
- Forecast for the Export of Wooden Furniture in the Philippines (2024-2033)
Table of Contents
Companies Mentioned
- Nihon Sangyo Co Ltd
- Vino Co Ltd
- Serena and Lily LLC.
- Scad Service (S) Pte Ltd
- Catalina Embroideries Inc
- Berben Wood Industries Inc.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | October 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 220 Million |
| Forecasted Market Value ( USD | $ 347.19 Million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Philippines |
| No. of Companies Mentioned | 6 |
