Mobile phone accessories have become an integral part of people's lives as they help enhance the functionality of mobile phones and enable activities such as browsing the internet, listening to music, charging phones, and more. Headphones, chargers, power banks, screen guards, and stylish cases help protect phones from damage and keeps them running.
The global India Mobile Phone Accessories Market is estimated to be valued at US$ 2455.97 Bn in 2023 and is expected to exhibit a CAGR of 9.72%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from millennials is one of the key trends driving growth in the India mobile phone accessories market. Millennials are highly dependent on their mobile phones and seek fashionable accessories that complement their lifestyle. They are willing to spend more on products that portray their personality and status. Phone case and headphone manufacturers are launching innovative designs targeting millennials. Increased customization options in colors, materials, and designs have been well-received. This has boosted sales of premium accessories catering to millennials. Focus on lifestyle branding and celebrity endorsements will continue attracting younger consumers in India.
Segment Analysis
The India mobile phone accessories market is dominated by the battery segment which accounts for over 30% of the total market share. Batteries are an essential part of any mobile phone and require frequent replacement. They also have a shorter shelf-life compared to other accessories such as chargers or headphones due to higher power consumption. Changing consumer behavior such as increased usage of power-hungry apps and longer screen-on times have further accelerated battery replacement needs.
Key Takeaways
The Global India Mobile Phone Accessories Market Demand is expected to witness high growth due to increasing mobile phone penetration across both urban and rural areas of the country. Growing access to affordable smartphones coupled with falling data tariffs is fueling demand. The global India Mobile Phone Accessories Market is estimated to be valued at US$ 2455.97 Bn in 2023 and is expected to exhibit a CAGR of 9.72%over the forecast period 2023 to 2030.
Regional analysis:
The Western and Southern regions of India dominate the mobile phone accessories market accounting for over 60% of sales. Presence of major cities such as Mumbai, Delhi and Bengaluru with high consumer spending on technology products drives market revenues. The Eastern region is witnessing fastest growth on account of rising disposable incomes in states such as West Bengal and Assam.
Key players:
Key players operating in the India mobile phone accessories market are Graphic Packaging International, Dart Container Corporation, Konie Cups International Inc., Huhtamaki OYJ, Kap Cones Private Limited, Eco-products Inc. (Waddington North America), Phoenix Packaging Operations LLC, Detmold Group, Benders Paper Cups, Georgia Pacific LLC (Koch Industries Inc.), Go-Pak UK Ltd, and Genpak LLC (Great Pacific Enterprises Inc.). The market remains highly fragmented with numerous local and global brands competing for share. Focus on sourcing from domestic manufacturers and offering affordable price points is a key strategy adopted by players.
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