The global water purifier market is rising at a decent rate over the years. The market is relatively matured but still competitive in nature, owing to presence of numerous players in the market. Manufacturers have understood that proper distribution channel is important in order to reach the products to various parts of the world. Manufacturers are focusing on strengthening their distribution channels to improve product penetration in the market. Presence of unorganized players in the market is anticipated to make the competition intense. These unorganized players assemble, manufacture, and sell water at a much cheaper rate, threatening other players in the market. These players generally exist in local areas and take advantage of lack of quality and certification norms.
The global water purifiers market is expected to exhibit robust CAGR of 8.4 percent during the forecast period 2017 – 2025. The market which was valued at USD 53.36 billion in 2016 is likely to touch USD 110.02 billion by the end of assessed period.
On the basis of type of accessories, the global water purifiers market is segregated into faucet mount, water dispenser, household filter, counter top filter, shower filter, under sink filter, and replacement filters. Of these, replacement filters held a significant share in the market. This segment is likely to expand at CAGR of 9.5 percent during the assessed period. On the basis of geography, the market is dominated by Asia Pacific owing to rise in population. The region accounts for 60 percent of total population.
Incessant rise in population to surge uptake of water purifiers
One of the major reasons that is driving the water purifier market all across the world is the deteriorating quality of water. Consumption of poor quality of water is likely to lead to serious health hazard. Consumption of such water can lead to various water-borne diseases. Water quality from natural source is getting contaminated owing to incessant rise of dumping of untreated sewage, nutrients, pesticides, chemicals, garbage from municipal corporation and agriculture sectors. It is found that majority of water consumed in the urban areas is unsafe for direct consumption as it contains heavy metals, cysts, bacteria, virus, and other toxins. Rapid industrialization is anticipated to pollute water more, thus providing a lucrative growth opportunity for water purifiers to clutch the market.
Growing popularity of packaged water to deter market growth
Increase in disposable income, increased rate of population, rising population along with rapid industrialization are anticipated to favor the growth of market. Change in lifestyle along with rapid urbanization is anticipated to help the market grow, as increasing concerns regarding one’s health keep on worrying. Apart from these, established players in the market have aimed on launching new products with advanced water purification technologies. Players in the market have heavily invested behind the research and development to produce product with better efficiency and product differentiation, thus helping to formulate brand name. Integration of technology such as reverse osmosis, ultra-violet, activated carbon, candle filtration, and ozone is likely to drive the market. However, it is noticed that growing popularity of packaged drinking water all across the world is anticipated to dampen the mood of market. Apart from these, low availability of water purifiers in rural areas is anticipated to further bring down the growth of Water Purifier Market.— Globe NewsWire