Suits & Ensembles - Philippines

  • Philippines
  • The Suits & Ensembles market in the Philippines is projected to generate a revenue of €146.50m in 2024.
  • It is anticipated to experience an annual growth rate of 4.45% (CAGR 2024-2028).
  • Comparatively, in India leads the global market with a revenue of €1,647m in 2024.
  • In terms of per capita revenue, the Suits & Ensembles market in the Philippines is expected to generate €1.23 per person in 2024.
  • The volume in the Suits & Ensembles market is estimated to reach 2.6m pieces by 2028.
  • A growth of 0.2% is projected for the segment in 2025.
  • On average, each person in the Philippines is expected to contribute 0.0pieces in volume to the Suits & Ensembles market in 2024.
  • The demand for bespoke tailored suits in the Philippines is rising due to the country's growing middle class and increasing interest in fashion.

Key regions: China, Philippines, United States, Australia, Europe

 
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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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