Water Purifier Market : Global Industry Outlook, Size ($92.1 Billion), Share, Growth (CAGR of 10.1%%), Top Companies Analysis and Research Report 2022-2031

Allied Market Research published a report, titled, "Water purifier Market by Technology (Uv, Ro, Gravity Based), by End User (Commercial, Residential), by Distribution Channel (Retail Stores, Direct Sales, Online), by Portability (Portable, Non Portable): Global Opportunity Analysis and Industry Forecast, 2020-2031". According to the report, the global water purifier industry generated $29.9 billion in 2020, and is anticipated to generate $92.1 billion by 2031, witnessing a CAGR of 10.1% from 2022 to 2031.

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Increase in disposable income in emerging nations boosts water purifier market growth. Increase in income level surges the purchasing power of customers, which in turn results in improved standard of living. In addition, the demand for water purification systems in developing countries is fueled by increase in availability of safe water by municipalities and upsurge in the number of water recycling treatments. Some of the emerging nations, such as Brazil and China, witnessed an increase in disposable income, owing to skill development of the population and rise in employment in service-centered industries. This increased the demand for water purification systems in these fields and contributed toward the development of the water purifier. Increase in concerns toward health and well-being among the global population has led to the adoption for hygiene practices. This serves as a key factor that substantially contributes toward the growth of the global market. Moreover, widespread availability of healthcare services, change in economic & social systems, and improved diagnostics have improved the health of consumers across various regions. Therefore, increase in health consciousness and upsurge in incidence of waterborne diseases fuel the demand for water purification systems.

The renowned market players focus on launching well-equipped products with advanced water purification technologies. These players have heavily invested in R&D activities to introduce water purifiers equipped with reverse osmosis, ozone, ultra-violet, ultra-filtration, activated carbon, and candle filtration technologies. Moreover, purifiers installed with Wi-Fi technology and filter pitchers are launched in the market. The market players are expected to launch more innovative products and solutions to cater to the rise in demand for potable water.

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The global water purifier market is anticipated to witness notable growth in the recent years. This is attributed to the fact that sales have surged in the past few years in Asia-Pacific, making it the largest revenue generator. Moreover, presence of huge population base and scarcity of clean drinking water drive the market in developing countries, such as India and China. The penetration rate of relatively lower priced products, such as gravity-based water purifiers is higher in developing countries of Asia-Pacific and LAMEA. These markets also witness increase in adoption of high-end products and increase in the number of international players, such as Panasonic, Amway, and others. Thus, the demand for portable water purifiers is expected to increase at a considerable rate in developed countries of Europe and North America, as these markets are nearing maturity.

Based on end user, the residential segment held the highest market share in 2020, accounting for nearly three-fourths of the global water purifier market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to deteriorating water quality, rise in urbanization, and surge in incidence of waterborne diseases. However, the commercial segment is projected to manifest the highest CAGR of 10.6% from 2022 to 2031, owing to rise in the number of offices, schools, restaurants, and hotels all around the globe.

The retail stores segment to maintain its lead position during the forecast period

Based on technology, the retail stores segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global water purifier market, and is projected to maintain its lead position during the forecast period. This is owing to higher affinity of consumers toward physical stores. Moreover, the online segment is expected to portray the largest CAGR of 11.6% from 2022 to 2031, because brands in water purifiers that use retail stores and direct sales are now expanding their channel into online divisions to attract more customers.

Asia-Pacific, followed by Europe & North America to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by Europe & North America held the highest market share in terms of revenue 2020, accounting for more than two-third of the global water purifier market. This is due to increase in urbanization, surge in income levels, and rise in health awareness among people in this region. However, the LAMEA region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031, owing to rise in penetration level of water purifiers, upsurge in population, and deterioration in quality of water.

Leading Market Players: -

Amway Corporation
A. O. Smith Corporation
Best Water Technology
Eureka Forbes Limited
Halo Source Inc.
Kent Ro System Ltd.
LG Electronics
Panasonic Corporation
Suez Water Technologies & Solutions (SUEZ)
Tata Chemicals Ltd.

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