With increasing population in urban areas, the need for purified drinking water has risen significantly. Water purifiers remove suspended solids, harmful bacteria and viruses, chemicals, toxic metals and salts from water making it safe for human consumption. Rapid urbanization has boosted the demand for water purifiers globally due to declining freshwater resources and increasing pollution levels in both urban and rural areas.
The global water purifier market is estimated to be valued at US$62 billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024-2028.
Key Takeaways
Key players: Key players operating in the water purifier market are LG Electronics, Philips, Panasonic, Hindustan Unilever Limited, KENT RO Systems Ltd.
Key opportunities: Growing health awareness, expanding retail channels, and focus on innovative product launches are expected to offer lucrative growth opportunities for players in the water purifier market.
Global expansion: Water Purifier Market Demand Leading manufacturers are investing significantly in geographical expansion plans across Asia Pacific, Latin America, Middle East, and Africa to tap the rising demand. Strategic partnerships with local distribution channels aid their global footprint.
Market Drivers: Rapid urbanization coupled with deteriorating freshwater resources has boosted the need for portable and point-of-use water purifiers globally. Stringent regulations regarding drinking water quality along with rising environmental pollution levels are also driving the sales of water purifiers.
The key drivers boosting the water purifier market growth include rapid urbanization in developing nations, deteriorating freshwater resources on account of water pollution, and stringent government policies mandating water purification systems. Growth in population residing in urban areas strains existing water infrastructure and contributes to rise in water-borne diseases if left untreated. This has increased the demand for convenient portable and counter-top water purifiers for residential purposes. Furthermore, rising industrialization has boosted the sales of commercial water purifiers for offices, hotels, restaurants etc.Stringent regulations outlining prescribed limits of contaminants in drinking water encourage adoption of water purifiers.
PEST Analysis
Political: Widespread initiation of clean drinking water programs by governments across Asia Pacific and Africa encourages demand for water purifiers.
Economic: Growth in disposable incomes and willingness to spend on health and wellness products is fueling market in developing nations of Asia Pacific, Middle East and Africa.
Social: Rising awareness about waterborne diseases and their prevention drives consumers towards point-of-use water purifiers for safer drinking water.
Technological: Advancements in water purification technologies like reverse osmosis, UV filtration and gravitational water are making purifiers more effective and affordable.
Asia Pacific accounts for the largest value share in the global water purifier market owing to high demand from populous countries like India and China. These countries face challenges of poor quality of water resources and lack of access to potable water supplies. Filter-based and UV-based purifiers witness high sales across both residential and commercial end-users in the region.
MENA region is poised to witness the fastest growth during the forecast period. Factors such as growing desalination activities along with construction of numerous RO plants across GCC countries will drive the market growth here. Availability of efficient purifying technologies together with increasing health consciousness among populace will significantly contribute to the demand upsurge in the Middle East and African water purifier market.
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