A water purifier is a device that removes impurities from water, and various verticals, such as residential units, hotels, hospitals, corporate offices, food & beverages, and restaurants, use it.
According to MarkNtel Advisors' research report, "Global Water Purifier Market Analysis, 2021," the market is likely to grow at a CAGR of around 9% during 2021-26. The growth primarily attributes to the surging demand of people for drinking safe water, mounting awareness of water-borne diseases, and the degrading water quality due to heavy metals, such as zinc, lead, magnesium, etc.
Besides, the burgeoning scarcity of freshwater worldwide, snowballing customer inclination toward a healthy lifestyle, and growing disposable income projected to fuel the market growth. The launch of technology integrated smart water purifiers by the market players and increasing disposable industrial waste and untreated sewage in water bodies proliferating the growing demand for water purifiers.
Moreover, rapid urbanization & industrial growth in the countries like India, China, and Brazil, entwined with the increasing spending on water recycling plants, are other crucial factors contributing to the overall market growth in the forecast period.
Covid-19 Positively Impacted the Global Water Purifier Market
The outbreak of COVID-19 in 2020 turned out to be an inflection point in the sales of water purifiers across North America, Europe, China, and several other economies. The entire supply chain of bottled water was paralyzed amidst the imposition of lockdown and restriction on movement, propelling the sales of water purifiers. COVID-19 pushed residential end-users to pursue a greater hygenic lifestyle, which further augmented the demand for sustainable water treatment products.
Eventually, the key countries in Europe such as Germany, France, Italy, Spain, the UK, Poland, etc., registered an increase in year-on-year growth ranging between 3% to 7% in 2020, over 2019. And, a similar trend is set to prevail in the forthcoming years.
Counter-top Carbon Accounted for a Significant Market Share
Based on Type, the Global Water Purifier Market bifurcates into Houseware, Countertop Carbon, Undersink Filtration, Undersink Others, Point-of-Entry Filtration, and Point-of-Entry Softening. Of all, Counter-top Carbon Water Purifiers held a significant market share in the previous few years. It owes to their rapidly increasing adoption in the residential sector due to the rising demand for freshwater.
Besides, the carbon filter helps remove 90% of harmful chemicals, such as volatile organic compounds, pesticides, and herbicides, from the drinking water, making it safe to drink. Additionally, the bad-tasting of tap water due to chemical usage to treat water also enabled people to shift toward using water purifiers. Thus, the surging need to improve the water quality has fueled the demand for counter-top carbon filters, thereby propelling the overall market growth, says MarkNtel Advisors in their research report, "Global Water Purifier Market Analysis, 2021."
Global Water Purifier market Experiences Significant Growth in Europe, North America, and Asia-Pacific
Region-wise, the Global Water Purifier Market is analyzed mainly across North America, Europe, and Asia-Pacific, where Europe witnessed around 3.8% year-on-year(Y-o-Y) market growth during 2019-20. It primarily owes to the mounting demand for water purifiers in the residential sector and affordable water purifiers launched by leading manufacturers across Europe also contributed to the overall market growth
On the other hand, North America observed around 5% Y-o-Y market growth during the previous years. The growing water scarcity and the burgeoning initiatives by the government to shift consumer preferences toward adopting energy-saving & electric-based solutions are the most prominent factors propelling the demand for water purifiers in the region.
Pitchers exhibited rapid growth in North America and Europe, critically due to the growing health concerns among people and the paradigm shift of consumers toward adopting Work From Home culture.
The Global Water Purifier Market attained substantial growth across Asia-Pacific in the previous few years, mainly due to China's significant contribution to the market. The burgeoning requirements for water purifiers in urban households owing to the growing water contamination levels are among the prime aspects that propelled the market growth in China. Besides, the rapidly developing commercial sector and the flooding population in the country further surged the need for water purifiers extensively.
Furthermore, the various initiatives & investments by the government & leading market players toward introducing water purifiers with technologies, including reverse osmosis, ozone & ultra-violet, ultra-filtration, and activated carbon & candle filtration, also fueled the overall market growth in Asia-Pacific, reveals MarkNtel Advisors in their research report, "Global Water Purifier Market Analysis, 2021."
Surging Awareness of Water-Borne Disease
Water is the most vital natural resource for supporting life. The declining water quality due to industrial growth and the dumping of untreated sewage waste in water bodies has resulted in the surging presence of harmful chemicals, such as chlorides, fluorides, and nitrate in groundwater, thereby raising health concerns among people.
Furthermore, the growing percentage of contaminated water, increasing incidences of various water-borne diseases, such as diarrhea, hepatitis, roundworm, and escalating demand for safe drinking water are also likely to accelerate the overall market growth in the forecast period.
According to MarkNtel Advisors, the major leading players in the global Water Purifier market are Kent RO System Ltd., A. O. Smith Corporation (Aquasana Inc.), Eureka Forbes Limited, Panasonic Corporation, LG Electronics, SUEZ Water Technologies & Solutions, Unilever Plc, Kinetico Inc., Aquatech International LLC, GE Appliances, Whirlpool Corporation, Pentair Plc, EcoWater Systems LLC., 3M Company, Ion Exchange LLC, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What are historical, base, and forecast years considered in the research report on Global Water Purifier Market?
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million and units sold.
Q. What would be the growth rate or CAGR of the Global Water Purifier Market during 2021-26?
A. The Global Water Purifier Market is forecast to grow at a CAGR of 9% during 2021-26.
Q. Who are the key competitors or players operating in Global Water Purifier Market?
A. Kent RO System Ltd., A. O. Smith Corporation (Aquasana Inc.), Eureka Forbes Limited, Panasonic Corporation, LG Electronics, SUEZ Water Technologies & Solutions, Unilever Plc, Kinetico Inc., Aquatech International LLC, GE Appliances, Whirlpool Corporation, Pentair Plc, EcoWater Systems LLC., 3M Company, Ion Exchange LLC are few of the leading players in the Global Water Purifier Market.
Q. Which segment type would emerge as an opportunity area for players in Global Water Purifier Market?
A. Nori Sheets is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Water Purifier Market?
A. Asia-Pacific continues to grow at the highest CAGR, thereby offering immense opportunities for market leaders of the Global Water Purifier Market.