The manufacturing industry is currently the third top performing sector in the Philippines. And on a year that is led by infrastructure, real estate, transportation, and logistics, investing on a manufacturing company gives a lot more promise.
Top exports from the Philippines account for 80 percent of the overall value. And a huge percentage goes to the high quality production. That explains the large demand by other countries around the world.
While we aren’t currently a large producer of consumer goods like China, there is a potential for the consumer goods industry to expand in several different markets. We thrive due to the future growth of infrastructure and factory employment. One of these markets is cosmetics.
Some cosmetics resellers
The Philippine’s importation of cosmetics and personal care products is declining. But not on account of decreasing demand. Demand for beauty products is skyrocketing in the Philippines as consumers have increased their spending in line with the country’s strong economic performance.
The import decline is a result of an increase in the nation’s local production, dominating 75 percent of the market. The cosmetic industry in the Philippines is ramping up production and using local resources to produce unique product.
Another market opportunity is furniture. We have four provinces in the Philippines that are major sourcing zones for wooden furniture.
Sourcing home or office furniture from the Philippines for your eCommerce store would give you the advantage of selling uniquely made products. With four provinces devoted to sourcing furniture and all located near a major distribution hub, your startup could benefit from the specialized production and ease of shipping.