Philippines: Travel Set Market 2025

Travel Set Market Size in the Philippines

In 2021, the Philippine travel set market increased by 9.3% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, continues to indicate a prominent expansion. Travel set consumption peaked in 2021 and is expected to retain growth in years to come.

Travel Set Production in the Philippines

In value terms, travel set production fell to $X in 2021 estimated in export price. In general, production, however, recorded a strong increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 159% against the previous year. Travel set production peaked at $X in 2020, and then dropped in the following year.

Travel Set Exports

Exports from the Philippines

In 2021, overseas shipments of travel sets decreased by -60.3% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 262% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, travel set exports dropped sharply to $X in 2021. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2019 when exports increased by 250% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for travel set exports from the Philippines, accounting for a 64% share of total exports. Moreover, travel set exports to the UK exceeded the volume sent to the second major destination, the United Arab Emirates (X units), eightfold. The third position in this ranking was taken by the United States (X units), with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+36.4% per year) and the United States (-34.2% per year).

In value terms, the UK ($X), the United Arab Emirates ($X) and the United States ($X) appeared to be the largest markets for travel set exported from the Philippines worldwide, together accounting for 87% of total exports.

The United Arab Emirates, with a CAGR of +56.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, jumping by 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+14.8%), while the prices for the other major destinations experienced a decline.

Travel Set Imports

Imports into the Philippines

In 2021, approx. X units of travel sets were imported into the Philippines; waning by -12.3% against the year before. Overall, imports saw a abrupt decline. The growth pace was the most rapid in 2013 when imports increased by 53%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, travel set imports dropped to $X in 2021. Over the period under review, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2015 with an increase of 47%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest travel set supplier to the Philippines, accounting for a 58% share of total imports. Moreover, travel set imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), fivefold. The third position in this ranking was held by Turkey (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.2% per year) and Turkey (+91.8% per year).

In value terms, China ($X) constituted the largest supplier of travel sets to the Philippines, comprising 58% of total imports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+18.8% per year) and Turkey (+83.4% per year).

Import Prices by Country

In 2021, the average travel set import price amounted to $X per unit, surging by 7.7% against the previous year. Over the period under review, the import price enjoyed a resilient expansion. The growth pace was the most rapid in 2018 an increase of 131%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per unit) and France ($X per unit), while the price for Malaysia ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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