The Global Alkaline batteries market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 1.2%.
The main benefit of using alkaline batteries is that these batteries can perform at low as well as ambient temperatures. Being an environment-friendly component, alkaline batteries are free to active collection and recycling. Alkaline batteries are mercury-free; this environment-friendly feature also triggers consumers to buy these batteries. Alkaline batteries are available in a wide variety of sizes, like AA, AAA, C, D, and others. For high and low drain operations, these batteries are mostly used. These batteries have a low replacement rate when they are used for low drain operations like toys, radios, clocks, and others.
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An increase in consumer spending and changing consumer demographics will trigger the growth of the global alkaline batteries market. However, the high cost of alkaline battery and the availability of fake batteries, coupled with the threat of available rechargeable batteries, are expected to impede the growth of this market.
In 2018, Energizer bought Rayovac Batteries for a valuation of USD 2 billion. This acquisition will benefit the company to create a strong presence in Europe, Middle-East and Africa, and Latin America.
According to the product type, the market is segmented into primary and secondary battery. Among these, the secondary battery segment is likely to grow during the forecast period, owing to the increasing adoption of reusable batteries.
Based on the battery size, the market is segmented into AA, AAA, C, D sized batteries. Among these, AA holds a dominating share in the market and AAA size is expected to grow during the forecasted period.
Based on applications, the market is segmented into digital products, small household appliances, and others. Among these, the digital products sub-segment is holding a dominating share in the market, owing to the numerous uses of alkaline batteries in digital products.
Geographically, Asia Pacific holds a dominating position owing to the huge investments in developing alkaline batteries in this region. The North America region is expected to grow with the highest CAGR over the forecast period. The major factor that is driving the market for alkaline batteries in this region is the increasing demand for energy.
The key players in the global alkaline batteries market are GP Batteries (Hong Kong), Maxell (Japan), Nanfu (China), Duracell (Switzerland), PKCELL (China), Camelion (Germany), EVE Energy Co. Ltd. (China), Energizer Holdings (USA), Panasonic (Japan), Toshiba (Japan), and Zheijiang Mustang Battery Co. Ltd. (China), amongst others.