Suits & Ensembles - Philippines

  • Philippines
  • In 2024, the revenue in the Suits & Ensembles market in the Philippines amounts to €36.79m.
  • This market is projected to grow annually by 3.14% (CAGR 2024-2028).
  • When compared globally, in China generates the highest revenue in this segment, with €578m in 2024.
  • In terms of per person revenues, in the Philippines generates €0.31 in 2024.
  • By 2028, the volume in the Suits & Ensembles market is expected to reach 2.5m pieces.
  • However, there will be a slight volume decline of -0.6% in 2025.
  • The average volume per person in the Suits & Ensembles market is expected to be 0.0pieces in 2024.
  • The demand for custom-tailored suits in the Philippines is on the rise, as consumers seek personalized and unique ensembles for special occasions.

Key regions: Indonesia, Australia, China, Singapore, India

 
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Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Visión general

  • Revenue
  • Sales Channels
  • Key Players
  • Volume
  • Price
  • Global Comparison
  • Methodology
  • Key Market Indicators
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