Business Overview Philippine Bed and Furniture Manufacturing Corporation: Ken Research
Posted on 03 May 2017 by KenResearch Consumer Products and Retail,
Philippines mattress market does not manufacture a large variety of mattresses. The choice of mattresses depends on various factors such as comfort, health, affordability, climatic conditions prevailing in the country and a lot more. There are majorly two types of mattresses in the country based on the preferences of the customers. They spring and foam mattresses. Other type of mattresses such as latex, rubber, cotton, therapeutic mattresses and others also available in the country and they are categorized under others.
The market is dominated by spring mattress that account for a share of ~% in the overall market revenue. Spring mattress comes with coiled springs that facilitate comfort and support. Innerspring mattresses offer more support and firmness to the user’s body. They are largely preferred by the households and hotels. Spring mattress can be categorized as premium quality mattresses. Export demand is high for spring mattresses from Philippines due to the quality, quantity and variety of spring mattresses manufactured in the country. The revenue generated by spring mattress in 2016 was registered as USD ~ Million out of the total market revenue of USD ~ Million.
Spring mattresses are followed by foam mattresses that hold a share of ~% in the overall revenue. They are majorly available in three different forms such as memory foam, gel foam and latex or solid foam. Foam mattresses are expensive compared to spring mattresses, but they last longer depending on its maintenance. Foam mattresses are preferred by the hotels for their luxury or the premium suites. The revenue generated from the sale of foam mattresses in Philippines was reported at USD ~ million during 2016.
Due to the climatic conditions prevailing in the country mattresses made of materials such as coir, latex, cotton and rubber has very low demand. The weather in urban cities of Philippines is generally hot and humid. Therapeutic beds are gradually gaining importance in the market due to the growing health concerns in the country.
Other mattresses also have a category of specialty mattresses such as airbed, waterbed, gel-filled beds and other technologically advanced mattresses. These types of mattresses have not managed to gain a significant relevance in the market. Though they are priced low, the Filipinos show reluctance towards the acceptance of technologically advanced mattresses. Mattress companies such as Uratex, Philibed, Tempur, Mandaue and others specialize either in the manufacture of spring or foam or both. In terms of revenue generation, other types of mattresses together account for a share of ~% in the overall mattress market.