Philippines: Electric Blanket Market 2024

Electric Blanket Market Size in the Philippines

The Philippine electric blanket market was estimated at $X in 2021, remaining relatively unchanged against the previous year. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Electric Blanket Production in the Philippines

In value terms, electric blanket production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Electric Blanket Exports

Exports from the Philippines

In 2020, approx. X units of electric blankets were exported from the Philippines; falling by -41.7% on 2019 figures. Overall, exports saw a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of 268% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2020, the exports remained at a lower figure.

In value terms, electric blanket exports dropped significantly to $X in 2020. In general, exports recorded a sharp downturn. The pace of growth was the most pronounced in 2015 when exports increased by 244%. The exports peaked at $X in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for electric blanket exports from the Philippines, with a 69% share of total exports. Moreover, electric blanket exports to the Netherlands exceeded the volume sent to the second major destination, Japan (X units), twofold.

From 2012 to 2020, the average annual rate of growth in terms of volume to the Netherlands amounted to +24.7%.

In value terms, Japan ($X), the Netherlands ($X) and Vietnam ($X) were the largest markets for electric blanket exported from the Philippines worldwide, with a combined 99.9% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +20.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average electric blanket export price stood at $X per unit in 2020, surging by 15% against the previous year. Overall, the export price, however, showed a abrupt downturn. The export price peaked at $X per unit in 2013; however, from 2014 to 2020, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2020, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-3.0%), while the prices for the other major destinations experienced a decline.

Electric Blanket Imports

Imports into the Philippines

In 2021, the amount of electric blankets imported into the Philippines soared to X units, picking up by 690% against the previous year's figure. Over the period under review, imports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2017 when imports increased by 1,455% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, electric blanket imports soared to $X in 2021. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 2,279% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

New Zealand (X units), Australia (X units) and Taiwan (Chinese) (X units) were the main suppliers of electric blanket imports to the Philippines, with a combined 93% share of total imports.

From 2012 to 2021, the biggest increases were recorded for New Zealand (with a CAGR of +33.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, New Zealand ($X) constituted the largest supplier of electric blankets to the Philippines, comprising 55% of total imports. The second position in the ranking was taken by Australia ($X), with a 25% share of total imports. It was followed by Taiwan (Chinese), with a 16% share.

From 2012 to 2021, the average annual growth rate of value from New Zealand amounted to +72.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+15.0% per year) and Taiwan (Chinese) (+45.8% per year).

Import Prices by Country

In 2021, the average electric blanket import price amounted to $X per unit, rising by 73% against the previous year. Over the period under review, the import price recorded a significant increase. The pace of growth appeared the most rapid in 2020 an increase of 384%. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+28.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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