The alkaline battery market, sustaining a 5.33% CAGR, is projected to expand to USD 10.378 billion by 2030 from USD 8.004 billion in 2025.
An alkaline battery, a type of primary battery, derives its power from the interaction of zinc metal and manganese dioxide. Furthermore, it is a disposable battery. Alkaline batteries have the same voltage but have a higher energy density and a longer shelf life than Leclanché cell or zinc chloride zinc-carbon batteries. Alkaline batteries are used in many common household items, including MP3 players, CD players, digital cameras, toys, torches, TV remote controls, clock radios, and cloakroom and closet illumination.
The main battery sector is expected to be the largest in the alkaline battery market due to its low cost and environmental friendliness. These Batteries are the cheapest source of portable power, and their usage is constantly projected to rise as new gadgets, income levels rise, and lifestyles change. This certainly shows the demand for Alkaline batteries will tend to rise in the upcoming years which will propel the market growth.
Rising per capita income is expected to boost the market under consideration throughout the projected period. Furthermore, consumer spending is seen as a critical component of GDP that contributes to a country's economic stability. The global increase in consumer electronics expenditure will be a primary driver of the alkaline battery market's growth in the coming years. According to the US Bureau of Labor Statistics, the average consumer spent USD 61,224 in 2018. It has increased by up to 1.9% during 2017. Also following a 2.7 percent drop from 2019 to 2020, average annual consumer expenditures grew by 9.1 percent to USD 66,928 in 2021, up about USD5,000 from 2020 and USD3,900 from 2019. Most alkaline batteries are found in electrical gadgets and household appliances. These factors would promote market expansion.
Additionally, a lot of nations provide their soldiers with electronic equipment like flashlights, night vision devices, etc. The market for main alkaline batteries is driven by the likelihood that this equipment will require them for proper operation. According to trends in world military expenditure, nations spent more on their militaries in 2021, at around USD 2113 billion, than they did in 2020, at USD 1943 billion. Also, if we analyze country-wise in 2021, US military spending climbed to $801 billion. While compared to 2020, this represented a small rise of 2.9%. The third-highest military spending in the world in 2021 was in India, at $76.6 billion. Spending increased by 33 percent from 2020 and by 0.9%. from 2012. The primary alkaline batteries market is anticipated to develop as a result of growing consumer electronics demand as well as the rising need for primary batteries in military applications. This shows that as the military expenditure rises the market for alkaline batteries will also tends to grow in the coming years.
The region with the greatest compound growth throughout the predicted period is Asia-Pacific. As a result of the growing demand for electronic goods, Asia Pacific is predicted to maintain its second-place ranking with the Indian and Chinese markets increasing demand for consumer goods like gadgets and toys for children. According to predictions made by the International Monetary Fund (IMF), growth in developing and emerging Asian countries would slightly increase from 5.6% in 2019 to 5.8% in 2020 and 5.9% in 2021. This illustrates how rising consumer spending might aid in the development of the market in this sector.
Also, the Asia-Pacific alkaline battery market will develop due to the region's expanding population, which has a direct influence on the use of popular household appliances such as clocks, remote controls, and other gadgets. These gadgets use alkaline batteries because they are affordable and can be disposed of safely. According to the most recent United Nations projections, Asia will have 4,743,946,002 people as of Monday, February 6, 2023. Because Asia comprises 59.76% of the world's population, there will be an increasing need for consumer electronics items, which will fuel the expansion of the alkaline battery market in this region.
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