Consumer Goods - Philippines | Statista Market Forecast

Value added in the Consumer Goods market is projected to amount to US$7.9bn in 2024.
A compound annual growth rate of 3.65% is expected (CAGR 2024–2029).
The value added per capita in the Consumer Goods market is projected to amount to US$66.2 in 2024.
The value added margin in the Consumer Goods market is projected to amount to 20% in 2024.
Output in the Consumer Goods market is projected to amount to US$38.5bn in 2024.
A compound annual growth rate of 3.20% is expected (CAGR 2024–2029).
The output per enterprise in the Consumer Goods market is projected to amount to US$4.8m in 2024.
The manufacturing intensity in the Consumer Goods market is projected to amount to 9.0% in 2024.
The number of enterprises in the Consumer Goods market is projected to amount to 7.95k in 2024.
A compound annual growth rate of 5.00% is expected (CAGR 2024–2029).
The enterprise density in the Consumer Goods market is projected to amount to 67 in 2024.
The number of employees in the Consumer Goods market is projected to amount to 647.40k in 2024.
A compound annual growth rate of 3.65% is expected (CAGR 2024–2029).
The employment rate in the Consumer Goods market is projected to amount to 0.54% in 2024.
The labor efficiency in the Consumer Goods market is projected to amount to US$59.5k in 2024.
The labor productivity in the Consumer Goods market is projected to amount to US$12.2k in 2024.

Definition:

The Consumer Goods market comprises a wide range of industries whose products are for personal use or consumption.

Structure:

The market consists of 9 parts, namely food, beverages, tobacco products, wearing apparel, leather & related products, media products, electronic products & components, electrical equipment, and furniture.

Additional information:

The market comprises value added, output, number of enterprises, number of employees, and the respective growth rates. Output refers to the total value of all goods produced, whereas value added is the sum of the intermediate stages of production or, in other words, the wealth created by industry activity. The market only displays B2B production.

Food
Beverages
Tobacco Products
Wearing Apparel
Leather & Related Products
Media Products
Electronic Products & Components
Electrical Equipment
Furniture

Growing of crops, raising of animals, and other farming activities
Manufacture of prepared animal feeds
Manufacture of textiles
Manufacture of paper and paper products
Manufacture of games and toys

The manufacturing market has faced several challenges in recent years due to geopolitical uncertainty, supply chain disruptions, changing consumer preferences, and increasing regulatory scrutiny. However, several positive factors, such as rising global demand, ongoing technological advancements, and increasing investment in automation and digitalization, continue to influence the market, and the outlook for manufacturing remains positive.

While the Covid-19 pandemic has caused significant hardships for manufacturers, those that invested in digitalization and automation of their processes will be best positioned for long-term success. Manufacturers who can effectively balance cost pressures and maintain a strong focus on quality are likely to survive the current crisis and come out more resilient in the end.

Among the factors that could affect the manufacturing market in 2023 is the adoption of advanced technology, such as artificial intelligence, robotics, and the Internet of Things (IoT), which have the potential to improve overall efficiency and productivity while reducing costs.

Furthermore, our analysts believe that sustainability and environmental awareness will become increasingly important trends, as more investors and consumers prefer companies that prioritize these values and develop eco-friendly products.

Finally, geopolitical factors such as trade tensions and changes in government policies could also impact the manufacturing market in 2023, with the Russia-Ukraine war having the biggest impact.

In summary, the current environment presents both challenges and opportunities for the manufacturing market in 2023. However, with the right managerial strategies and high flexibility, companies can succeed and strengthen their long-term market position.

Data coverage:

The data encompasses B2B. Figures are based on the value added in the manufacturing market.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting the manufacturing market due to the non-linear growth of this market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Industrial market, in a PDF format.

Although millennials had been the center of companies’ attention for several years, many businesses and retail industry professionals across the globe now have a vested interest in the distinct shopping behavior of "zoomers", i.e., members of Generation Z. The millennial generation, also known as Generation Y, comprises people born between 1981 and 1996, and is followed by Generation Z, which includes individuals born 1997 to 2012. Each of these generations constituted just over a fifth of the entire United States in 2023, with millennials accounting for the highest population share that year.