Demand for mobile phone protective cases continues to grow steadily in Asia Pacific, as more consumers move from basic mobiles to mid-tier smartphones.
Demand for mobile phone protective cases continues to grow steadily in Asia Pacific, as more consumers move from basic mobiles to mid-tier smartphones. The Asia Pacific mobile phone protective case market, valued at nearly US$ XX billion in 2018, is projected to grow at XX% CAGR through 2028. China will remain the largest market during the forecast period.
Smartphone penetration is steadily growing in APAC on account of rising disposable income among the behemoth middle class in China and India. Collectively, the middle class in these two countries is estimated to be over 700 million, a lucrative statistic for manufacturers looking to increase volume sales. As more consumers migrate from a basic phone to a smartphone, the tendency to invest in protecting the phone is also gaining traction. Owing to these factors, demand for protective case market in Asia Pacific is witnessing steady gains.
Protective case sales are also anticipated to be driven by ‘fashion-conscious’ millennials, who use the cover as a style statement. The millennial demographic will continue to drive sales of protective cases during the forecast period. Although the outlook on the APAC protective case market is positive, lack of standardization has been identified as a major impediment.Undefined standards create high product and price differentiation, hindering the growth of the market.
Multi- and single-brand stores account for bulk of sales of the APAC mobile phone protective case market. These two segments collectively accounted for over 70% revenue share of the market in 2018. However, sales through these channels will witness a significant dip in the future, as e-commerce channels offer tempting discounts and free home delivery to consumers. The China mobile phone protective case market was valued at over US$ XX billion in 2018. It is projected to grow at XX% CAGR through 2025, and surpass US$ XX billion in revenues through 2028.