Water Purifier Market Overview
The growth of the global water purifier market is thriving on the back of growing concern amongst people about the health issues related to the consumption of contaminated water, along with the increasing water pollution observed around the world. Moreover, numerous opportunities derived from rising promotional activities for water purifiers in the developing countries around the world along with rising demand from end-user industries for industrial water purifiers are some of the factors anticipated to promote towards the growth of the global water purifier market.
The global water purifier market reached USD 31459.8 million in the year 2018 and is expected to garner USD 60591.5 million by the end of 2027 by registering a CAGR of 7.6% across the globe over the forecast period 2019-2027. Further, the worldwide market of water purifiers is anticipated to achieve a Y-o-Y growth rate of 8% in 2027 as compared to the previous year.
Growth Highlights based on Region during 2018-2027
The global water purifier market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific water purifiers is driven primarily by China and Japan, where China held the dominant market share of around 24.7% during 2018. The market in China is further anticipated to grow by a CAGR of 8.7% during the forecast period and attain an absolute $ opportunity of USD 3074.8 million throughout the assessment period. Additionally, the market in Asia Pacific is expected to expand by observing a growth rate of 1.99x over the forecast period, which in turn is estimated to have a positive effect on the demand for water purifier products in the long run.
Further, U.S. and Canada are the prominent countries that are driving the growth of the North America water purifiers market, where U.S. accounted for the largest market share of around 79% in 2018.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Technology
The global water purifier market has been segmented on the basis of technology into chemical based, UV purifier and membrane based. Membrane based segment with around 40% share in 2018, occupied the largest market share of water purifiers across the globe. Additionally, membrane based is anticipated to cross USD 23160.6 million by the end of 2027 by registering a CAGR of 7.0% over the forecast period. Further, the UV purifier segment is estimated to grow with the highest CAGR of 8.6% over the forecast period.
By Mode of Operation
Global water purifier market is also segmented on the basis of mode of operation into under-sink filter, faucet mount, replacement filter, shower filter, pitcher filter, whole house, water dispenser and others. Under-sink segment with around 20% share in 2018, occupies the largest market of water purifiers across the globe. Additionally, the under-sink filter segment is anticipated to cross USD 12999.8 million by the end of 2027 and is anticipated to flourish at a CAGR of 8.2% over the forecast period. Further, the faucet mount segment is estimated to grow with the highest CAGR of 8.8% over the forecast period.
Market Drivers and Challenges
Growth Indicators
The concern for health amongst individuals around the globe is raising the demand for foods that are healthy, which is also resulting in the increasing focus of food manufacturers to introduce new healthy food and beverage products, such as plant-based water, kombucha and functional beverages into the market. With the growing industry for healthy drinks and the related increase in the manufacturing of these products, coupled with the growing awareness amongst the people for the quality of ground water that is deteriorating consequently over the years are some of the factors anticipated to impel the growth of the water purifiers market.
Additionally, increasing incidences of water contamination in several parts of the world and the growing population around the world are some of the factors expected to propel the growth of the global water purifiers market.
Barriers
High price of water purifiers restricts the purchase of these products amongst the low- and middle-income group of individuals, especially in developing and under-developed nations, affecting the sales of the product. Moreover, many under-developed nations around the globe are yet unaware about the benefits of water purifiers. Such factors are expected to limit the growth of the global water purifier market around the globe.
Top Featured Competitive Landscape
Some of the affluent industry leaders in the global water purifier market are SUEZ worldwide, Evoqua Water Technologies LLC, A.O. Smith Corporation, Eureka Forbes, Strix Group, Culligan International Company, Brita GmbH, Mitsubishi Rayon Cleansui Co., Panasonic Corporation and Pentair Plc. Additionally, several other players are operating in the water purifier market worldwide and are expanding their services to gain an extra competitive edge in order to increase their revenues and market share in the global water purifier market.
