17 Nov Philippine Demographics
Adapted from Roberto de Vera, Ph.D.
Two out of every three Filipinos are under 30 years old. Statistics show that the 0-14 and 15-29 age groups have population shares of 35.5% and 28.4%, respectively and have a combined share of 63.9%. This shows that regional markets are essentially a youth market. Population will grow most rapidly in the 15-29 and 30-44 age groups. Based on the growth projection of the National Statistics Office, these two age groups will both increase by 4.3 million from 2000-2010. It means these age groups will expand by an average of 430,000 every year.
With respect to the number of degree holders, women outnumber men. The share of degree holders to population in the age group 20-29 is 13.7% and 8.3% for women and men, respectively. This means that out of one hundred persons with at least a college degree, 62 are women and 38 are men.
People are getting married at a later age.
The number of marriages occurring at age 25 and above is increasing. This trend implies that there is a growing market for products that will be used by single young professional women. Women’s longer career stints before marriage implies that more of them will be able to nurture their career even when they are married. Thus, the presence of more women who want to lead a balanced family and professional life will fuel a growing demand for time-saving convenience products.
Most couples who get married stay married. In 1995, about 85% of marriages were intact, 14% were divided due to spouse’s death, and only 1% was divided due to separation or divorce. The relative stability of Filipino families should be considered by marketing departments in formulating products and sales strategies. They will have to take into account the fact that Filipino households have a great propensity to invest in their children. Much work remains in tapping a potentially huge market: overseas workers who are supporting their extended families in the Philippines.