Global Water Purifiers Market Overview
The global water purifiers market is demonstrating notably positive growth. The increasing population is driving the demand for clean water. Increased urbanization increases usage of water purifiers, demanding clean and safe drinking water. The demand for drinking water has been increasing tremendously owing to the pharmaceuticals and cosmetics industry.
Market Research Future (MRFR) confirms that the global water purifiers market is estimated to demonstrate a voluminous growth worth USD 175.54 billion by 2030, registering a striking 17. 58% CAGR during the assessment period ((2023 - 2030). Growing usages of diverse product portfolios and the vast range of benefits of water purifiers have considerably contributed to the demand in the market.
Due to advancing technology, the global water purifiers market is expected to observe significant growth in the next few years. On the other hand, factors such as the price instability of the raw materials may restrict the growth of the global water purifiers market. Nevertheless, the increasing usages of water purifiers in hospitals and the hospitality industry would support the market growth throughout the review period.
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Key Players:
Some of the global water purifiers market leaders are
- Unilever
- Smith
- EcoWater Systems LLC
- Coway Co., Ltd.
- Panasonic Corporation
- Livpure Pvt. Ltd.
- KENT RO Systems Ltd
Global Water Purifiers Market Segmentation
The study report is segmented into products, end-users, and regions.
- The product segment is sub-segmented into UV water purifiers, RO water purifiers, activated carbon filters, and others.
- The end-user segment is sub-segmented into residential and commercial.
- The Region segment is sub segmented into North America, Europe, Asia-Pacific, Rest of world.
Key Factors Driving the Market:
Water Pollution and Contamination:
Rising pollution levels and the presence of contaminants in water sources have led to a surge in demand for water purifiers. Concerns about waterborne diseases and health risks associated with consuming contaminated water have prompted consumers to invest in water purification solutions.
Urbanization and Population Growth:
Rapid urbanization and population growth have strained existing water supply and treatment infrastructure, leading to a greater need for individual water purification solutions in urban areas.
Health Awareness and Consumer Education:
Growing awareness among consumers about the importance of clean and safe drinking water for maintaining good health has fueled the adoption of water purifiers in households and commercial establishments.
Technological Advancements:
Advances in water purification technologies have resulted in more efficient and cost-effective water purifiers. Innovations such as reverse osmosis, ultraviolet (UV) purification, and activated carbon filters have improved the effectiveness of water purification systems.
Government Regulations and Initiatives:
Government regulations and initiatives aimed at ensuring safe drinking water for citizens have also contributed to the growth of the water purifiers market. These regulations may set specific standards for water quality, driving the adoption of water purifiers to meet those standards.
Bottled Water Alternatives:
As concerns about plastic waste and environmental sustainability increase, many consumers are shifting away from bottled water consumption and opting for home-based water purification systems as a more eco-friendly solution.
Industry/ Innovation/ Related News:
Sep. 10, 2021 – Havells, consumer durables major, announced its plan to acquire Eureka Forbes, eyeing a bigger play in the water purifier business in India. The buyout would help Havells gain a hefty boost in its negligible market share in the water purifier business. Currently, Forbes & Co., a subsidiary of the listed entity, has initiated the process of demerging Eureka Forbes, seeking approval from the National Company Law Tribunal.
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