ROCKVILLE, Md., June 28, 2016 /PRNewswire/ -- Household batteries are big business in the U.S. with sales projected to reach $4.8 billion by the year 2020, up from slightly more than $4.1 billion in 2015. Lithium-ion rechargeable batteries will see the greatest increase, with a compound annual growth rate (CAGR) of almost 12%, and surpass alkaline disposable batteries as the top segment of the household batteries category.
The research was published in the brand new report Household Batteries: Consumer Market Trends in the U.S. (June 2016) released by market research firm Packaged Facts. More information on the report, including the abstract and table of contents, can be viewed at: http://www.packagedfacts.com/Household-Batteries-Consumer-10122624/.
Though alkaline batteries are the only category projected to experience a downturn when looking ahead to 2020, sales of alkaline rechargeable batteries will hold steady throughout the forecast period. In all actuality, rechargeable batteries have the potential to even outperform sales expectations if eco-conscious consumers come to fully recognize and appreciate the benefits of rechargeable batteries.
"Disposable batteries account for more than half of household battery sales but rechargeable batteries continue to be a growing part of the market. They appeal to consumers seeking to lessen their environmental footprint. They are also positioned as less costly. Rechargeable batteries may likely come to dominate the market completely within the next decade but with the exception of extremely high use situations, consumers will have to use rechargeable batteries for many months before a savings would be seen. This may factor into why the rechargeable battery, a more advanced product than the disposable and clearly more environment friendly, has not grown even faster than it has," says David Sprinkle, research director, Packaged Facts.
Batteries: Consumer Market Trends in the U.S. covers the sales of household batteries sold through all types of retail outlets, including supermarkets, discount stores and supercenters, warehouse clubs, and mass merchandisers, as well as convenience stores, drugstores, hardware stores, small groceries, and the Internet. The report is available at www.PackagedFacts.com.
About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at www.PackagedFacts.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE Packaged Facts