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 the 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 attributes to the surging demand of people for drinking safe water, mounting awareness of the water-borne disease, 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 such as India, China, and Brazil and increasing spending on water recycling plants are the factors that contribute to the global market growth in the forecast period.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has brought the whole world to a standstill position owing to nationwide lockdown. Due to this, the temporary shutdown of factories and restriction on the movement of people has further disrupted the entire value chain.
Additionally, the disrupted supply of raw material from China became a big issue for all the manufacturers as it affected the production and demand for water purifiers.
However, the Covid-19 spread led to health awareness, thereby leading people to adopt healthy practices like water purification before consumption, which further augmented the demand for sustainable water treatment products.
Counter-top Carbon Accounted for a Significant Market Share
Based on Type, Counter-top carbon water purifiers accounted for a significant market share in the Global Water Purifier market in 2019. The adoption of counter-top carbon water purifiers is high among the residential sector due to the rising demand for freshwater among residential units.
The carbon filter helps to remove 90% of harmful chemicals such as volatile organic compounds, pesticides, and herbicides in drinking water. Moreover, the bad-tasting of tap water due to chemical usage to treat water also drives the demand for these water purifiers. Thus, the surging need to improve the water quality has fueled the demand for counter-top carbon filters.
Counter-top carbon water purifiers are used in the kitchen as they are easy to install. Hence, this predicts to place a positive impact on the growth of the water purifier market in the forecast period, says MarkNtel Advisors in their research report, "Global Water Purifier Market Analysis, 2021."
Asia-Pacific Can Attain Highest CAGR
Asia-Pacific is likely to attain the highest CAGR in the Global Water Purifier market over the forecast period during 2021-26. The growing health and wellness concern among people on account of burgeoning incidences of cholera, ulcers, giardia, and increasing consumption of polluted water drives the market growth. The growing shortage of fresh water owing to robust industrial & agricultural development and propelling demand for safe water drinking are the factors driving the growth of the water purifier market.
India and China acquired the majority market share in the Asia-Pacific region. The water purifier has become a crucial need for urban households. The increasing groundwater contamination and burgeoning introduction of affordable water purifiers in rural areas have upsurge the demand for water purifiers in the countries. Moreover, escalating use of chemicals such as chloramine and chlorine by the municipal water facilities for water treatment is also infusing a lucrative opportunity for the growth of the water purifier market.
Surging Awareness of Water-Borne Disease
Water is the most crucial 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. Thus, this is raising the alarm for health concerns among people in both developed and developing countries.
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 accelerating the growth of the global water purifier market. According to the World Health Organization, contaminated water estimates to cause around 0.4 million deaths from diarrhea every year across the globe.
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.