Philippines: Market for Brooms, Brushes, And Mops 2024

Market Size for Brooms, Brushes, And Mops in the Philippines

In 2022, the Philippine broom, brush, and mop market increased by 76% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Brooms, Brushes, And Mops

Exports from the Philippines

After two years of growth, overseas shipments of brooms, brushes, and mops decreased by -77.6% to X units in 2022. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 235%. The exports peaked at X units in 2021, and then contracted markedly in the following year.

In value terms, broom, brush, and mop exports fell sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 791% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units), Japan (X units) and Singapore (X units) were the main destinations of broom, brush, and mop exports from the Philippines, together comprising 75% of total exports. The United States, South Korea, China and Thailand lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +120.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) emerged as the key foreign market for brooms, brushes, and mops exports from the Philippines, comprising 58% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by Singapore, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia totaled +107.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+54.9% per year) and Singapore (+31.4% per year).

Export Prices by Country

In 2022, the average broom, brush, and mop export price amounted to $X per unit, surging by 137% against the previous year. In general, the export price showed a significant expansion. The growth pace was the most rapid in 2013 an increase of 843%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+31.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Brooms, Brushes, And Mops

Imports into the Philippines

In 2022, purchases abroad of brooms, brushes, and mops increased by 144% to X units, rising for the second year in a row after four years of decline. Overall, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, broom, brush, and mop imports soared to $X in 2022. Over the period under review, imports posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 64%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest broom, brush, and mop supplier to the Philippines, with a 75% share of total imports. Moreover, broom, brush, and mop imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sixfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+19.0% per year) and Taiwan (Chinese) (+19.1% per year).

In value terms, China ($X) constituted the largest supplier of brooms, brushes, and mops to the Philippines, comprising 61% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 13% share of total imports. It was followed by Malaysia, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+20.1% per year) and Malaysia (+39.2% per year).

Import Prices by Country

In 2022, the average broom, brush, and mop import price amounted to $X per unit, dropping by -48% against the previous year. Over the period under review, the import price, however, saw a resilient increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 100%. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :