An increase in disposable income in emerging nations boosts water purifier market growth around the globe. The standard of living has improved over the years and has led to the use of various technological trends in home appliances market. In addition, the demand for water purification systems in developing countries is fuelled by an increase in the availability of safe water by municipalities and an upsurge in the number of water recycling treatments. Some of the emerging nations witnessed an increase in disposable income, owing to the skill development of their populations and a rise in employment in service-cantered industries. The situation in developing economies is worse due to scarcity of fresh water, rise in pollution, and rapid surge in population. This increased the demand for water purification systems in these fields and contributed toward the development of the water purifier market. Increasing concerns toward health and well-being among the global population has led to the adoption of water purifiers. This serves as a key factor that substantially contributes toward the growth of the global market. Therefore, an increase in health consciousness and an upsurge in the incidence of waterborne diseases fuel the demand for water purification systems. According to the research report, "Global Water Purifier Market Outlook, 2027," published by Bonafide Research, the market is projected to grow at a CAGR of 13.57% over the forecast period. The rapid growth is due to the diminishing quality of water leading to serious health hazards. It poses huge risks to the health, causing various water-borne diseases. Countertop water purifiers would be in high demand during the forecast period due to their portability, ease of installation, and compact size. These are available at affordable prices to consumers. The water supplied by municipal authorities in urban areas is unsafe to drink and requires further decontamination from heavy metals, viruses, cysts, bacteria, and other toxins. Industrialization is expected to rise, leading to increased water pollution in the coming years, thus creating an increase in demand for water purifiers. However, the high maintenance costs of water filters are the major market restraint as they require timely replacements for the water purifier to operate efficiently. The cost of water filters varies according to the type and technology of the product.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample
By technology, the RO water purifier segment occupied the largest share of 53%, followed by the gravity-based segment. RO water purification systems are widely used across the world, due to their efficient performance, less electricity consumption, and technological advancements. However, the UV-based water purifier segments are expected to witness a slowdown during the forecast period as UV water purifiers are less efficient and cost-effective as compared to RO water purifiers, which increases RO water purifiers’ adoption among low-income groups. The introduction of smart water purifiers with advanced technologies is convenient to operate with a multiple-stage purification process, as a result of which it has the fastest growth over the forecast period. Additionally, they give out alerts and notifications to consumers on the completion of their maintenance cycles. The Asia-Pacific and Middle East regions are the target markets for these water purifiers due to increased demand. By sales channel, the offline segment held a major water purifier market share worth USD 31.03 billion in 2021. This is due to the higher affinity of consumers toward physical stores, as they are perceived to be safe and allow consumers to try the product before purchase. Moreover, offline stores have the added advantage of immediate gratification, which further boosts their popularity. Leading brands in water purifiers that use retail stores and direct sales are now expanding their channels into online divisions to attract more customers. The Asia-Pacific region, which includes the world's most populous countries such as India and China, will lead the global water purifier market in 2021.The global market is highly competitive in the region. Global brands strive amongst themselves to deliver better value propositions and more effective marketing strategies. It is expected to register the highest growth rate of 16.32% over the forecast period ending in 2027. This can be attributed to increased awareness of waterborne diseases and their health effects in emerging markets like India.
The key market players are focusing on launching advanced water purification technologies. These players have heavily invested in R&D activities to introduce water purifiers equipped with reverse osmosis, ozone, ultra-violet, ultra-filtration, activated carbon, and candle filtration technologies. Moreover, purifiers equipped with Wi-Fi technology and filter pitchers have been launched on the market. Additionally, the companies are expected to launch more innovative products and solutions to cater to the rise in demand for drinking water. The consumer goods industry is majorly impacted due to the COVID-19 pandemic. During the initial period of the COVID-19 pandemic, strict lockdowns and complete social distancing were imposed globally. Disturbed supply chains and production have impacted the water purifier market negatively. Due to lockdowns, the development of water purifiers was hampered, which resulted in low supply, thus impacting the water purifier market negatively. Increase in awareness about the water hygiene and health is expected to offer lucrative growth in the water purifier market. Major Companies present in the market: A.O. Smith Corporation, Aquatech International LLC, Pentair PLC, Brita International, Eureka Forbes Limited, Coway Company Ltd, Culligan International Company, BWT Holding Gmbh, 3M Purification Inc.
Considered in this report • Geography: Global • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Global Water Purifier market with its value and forecast along with its segments • Region-wise plant based milk market analysis • Country-wise plant based milk market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions & Countries covered in the report • North America (US, Canada, Mexico) • Europe (Germany, UK, France, Spain, Italy, Russia) • Asia-Pacific (China, Japan, India, Australia, Indonesia, Vietnam, South Korea) • South America (Brazil, Argentina, Colombia) • Middle East & Africa (UAE, Saudi Arabia, South Africa) By Type in the report • Counter Top • Under Sink • Faucet Mount & Others By Technology in the report • RO • UV • Gravity Based • Others By Sales Channel in the report • Online • Offline The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to water purifier industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.