India Mobile Phone Accessories Market is Estimated to Witness High Growth
Market Dynamics:
Increasing smartphone penetration and usage has been a key driver of growth for the India mobile phone accessories market. As per IAMAI, India had around 688 million smartphone users by end of 2020 and smartphone penetration is estimated to further increase going forward. This growing smartphone user base has augmented the demand for mobile phone accessories in India. Protective cases and screen guards together account for over 50% of total mobile phone accessories sold in the country. The demand for external batteries, chargers and power banks has also grown significantly owing rising concerns about battery life and need for portable charging solutions. Lower priced Chinese brands dominating the Indian mobile accessories space have further fueled market growth over the past years. However, increasing online price wars and counterfeiting may negatively impact established brands.
Key Takeaways
The Indian Mobile Phone Accessories Market Size is growing rapidly due to increasing smartphone penetration in India. Rising disposable income levels have accelerated smartphone adoption across various income segments in India. According to estimates, approximately 500 million people in India use smartphones currently. This lays the foundation for increasing demand for mobile phone accessories in the country going forward.
Regional analysis:
The western region currently dominates the Indian mobile phone accessories market owing to higher disposable incomes and tech-savvy population primarily located in major cities such as Mumbai and Pune. However, northern and southern regions are also growing due to increasing rural electrification and mobile connectivity projects undertaken by the government and telecom operators. Regions with higher than average urbanization rates and internet penetration will remain key focus areas for major accessories brands in India.
Key players:
Key players operating in the Indian 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.). Industry leaders are focusing on expanding their product portfolio and distribution networks to leverage rising demand from Tier II and Tier III cities.easiers have increased their focus on developing affordable yet durable accessories targeting India's price sensitive population.
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