Mobile Phone Accessories Market: Overview
The global market for mobile phone accessories was valued at more than US$ 66 Bn in 2016. APEJ and North America market are characterised by a strong demand for mobile phone accessories, wherein consumers are demanding high end and exclusive range of innovative products. Among application types, chargers hold the highest market share in the global mobile phone accessories market followed by protective covers and batteries. The boom in the smartphone industry and a growing trend of online shopping is supporting the rising demand for mobile phone accessories. APEJ is the dominating regional market for mobile phone accessories packaging, accounting for an estimated market share of more than 50% in 2017 and is expected to witness an impressive gain of 600 BPS in 2027 over 2017.
Cost-effective packaging of mobile phone accessories and increasing smartphone adoption are the main factors fuelling the growth of the global mobile phone accessories packaging market
Mobile phone accessories are typically packed in folding cartons and clear view boxes due to their characteristics to facilitate small volumes and customised printing. Thermoformed blisters and clamshells are also in trend due to their attractive and effective packaging. Manufacturers are inclining towards designing and delivering plastic thermoformed products. In the recent years it has been observed that there is a high adoption of smartphones across various regions owing to the proliferation of mid-range and low-range smartphones. Increasing demand for smartphones is positively impacting the demand for accessories as well. Newer and smarter accessories are currently trending the global market this is likely to continue in the coming years. This will directly boost the demand for mobile phone accessories packaging.
Consumers are constantly inclining towards multi-brand stores that offer products from multiple brands at one place. Multi-brand stores make it convenient for consumers as it becomes easy to compare products – appearance, features and pricing – on the spot.Purchasing mobile accessories from organised multi-brand stores is an emerging trend, especially for purchasing power banks and headphones. E-commerce is further enhancing the demand for electronic accessories in the global market. Increase in the market demand for mobile phone accessories is expected to fuel revenue growth of the packaging of mobile phone accessories.
The penetration of e-commerce is rising rapidly. The sales through e-commerce has increased in recent years due to a growing preference for this channel among consumers. Online shopping of products have increased across the globe due to attractive offers provided by e-commerce retailers and the convenience offered by the online platform. Online purchasing of mobile phones and accessories have been increased manifold in the recent past. Some of the mobile phone companies are selling their products through their website or mobile applications. E-commerce has augmented the sales of mobile phones and mobile phone accessories to a significant extent, thereby boosting global market demand for mobile phone accessories packaging.
Blister packs segment is estimated to represent highest incremental growth opportunity over the forecast period
Blister packs segment is anticipated to account for nearly 30% market value share in 2017, and is anticipated to rise further by 190 BPS in 2027. In terms of CAGR, the blister packs segment is expected to be the most attractive packaging type segment during the forecast period.
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