The study would dig deeper into the growth prospects of water purifier sales. Reaching in excess of US$20 Bn by 2021 end, worldwide water purifier market reflects a robust growth potential for the next few years.
Smart Filtration to Influence the Water Purifier Market
Technology proliferation in the consumer goods space is being leveraged by manufacturers to enhance their product offerings. The introduction of smart water purifier with advanced features is one of the booming trends in the consumer electronics space. Smart water purifier is easy to operate and includes multiple stages of water purification. These smart filters can monitor usage of water and the mineral content in it and adjust purification settings as per condition. In addition, design of a smart water purifier allows generation of notification and alerts for consumers after the completion of the maintenance cycle. While standards of living of individuals have been improving alongside their spending capacity, the demand for smart water purifiers with advanced features equipped with latest technology. This has pushed manufacturers to develop efficient products that serve the technological inclination of individuals. In this backdrop, trending smart water filtration products are expected to augur well for the water purifier market in the coming years.
Awareness of Advanced Water Purifiers via Marketing Channels to Influence Market Growth
Rising awareness of water filtration products and associated technologically advanced features through multiple marketing channels continues to influence the growth of the water purifier market. Consumers are becoming familiar regarding the advantages of water purifiers on the back of innovative marketing campaigns by manufacturers. Moreover, rampant adoption of digital marketing coupled with volume growth of retail stores are contributing towards value growth of the water purifier market. In addition, seasonal discounts offered by manufacturers during festivals in both emerging and developed economies are expected to further fuel the sales of water purifiers at a significant rate.
Increasing Waterborne Diseases to Augment Water Purifier Market Growth
Rising occurrences of waterborne diseases have fuelled the use of water purification systems. According to World Health Organization more than 3 million individuals die due to diseases related to impure water intake. As per WHO and United Nations report, around 85,700 children within the age group of 15 years die due to diarrhoea associated with consumption of unsafe water. This has resulted in a large percentage of individuals are using safely managed services for consumption of water. For instance, according to WHO, in 2020, approximately 74% of the world’s population used managed services for water consumption. This has resulted in an increase in the use of water purifiers in public places and other common areas such as parks, malls, theatres, and museums, in turn propelling growth of water purifier market.
Moreover, as per WHO analysis, more than 2 billion individuals live in countries that face water problems. On the global front, 2 billion individuals use sources of water that are contaminated with faeces. As a result, microbial contamination of water can potentially cause various diseases such as diarrhoea, cholera, polio, typhoid, hepatitis A, and dysentery. This factor remains instrumental in driving the demand for efficient water treating solutions, consequently bolstering growth of the water purifier market.
RO Filters to Gain High Traction in Water Purifier Market
Reverse osmosis, i.e., RO filters are expected to gain wide traction in the coming years. This is mainly owing to their advantages such as high quality filtration and removal of contaminants as compared to other types of filters. Moreover, RO filters can be used to treat hard water as they provide superior barrier against undesirable minerals. This has pushed their adoption in areas that receive a large percentage of hard water as compared to soft water for drinking purposes. In this background, increasing sales of RO filters is expected to largely contribute towards value growth of the water purifier market.
Asia Pacific Expected to Become a Key Revenue Pocket in Global Water Purifier Market
Emerging nations of Asia Pacific are expected to showcase high attractiveness with regards to use of water purifiers. This can be attributed towards increasing water borne diseases coupled with associated health burden faced by individuals in the region. For instance, according to India Water Portal, around 37 million individuals in India are critically affected by waterborne diseases annually. About 1.5 million children suffering from water borne diseases die due to diarrhoea resulting in a huge economic burden of around US$600 Mn each year. Moreover, increasing population has also resulted in growing demand for pure water apart from other routine requirements. This is expected to provide ample opportunities to water purifier manufacturers owing to presence of a large customer pool making Asia Pacific a lucrative go-to-region for water purifier market.
Water Purifier Market: Competitive Landscape
A few of the major players in the market include A. O. Smith, Pentair PLC, General Electric Company, Panasonic Corporation, LG, Unilever PLC, and Kent RO Systems Ltd.
Regional Classification of the Global Water Purifier Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Water Purifier Market
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