Water Purifier Market, Size, Share and Growth ⅼ Forecast (2023 - 2028) ⅼ Renub Research

As per Renub Research's latest report titled "Water Purifier Market, Size, Global Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" Water Purifier Market Size will reach US$ 56.79 Billion by 2028. As per the Water Project Organization, 80% of illnesses in developing countries are because of sanitation conditions and low-quality water. Worldwide 1 out of every 5 deaths under the age of 5 due to a water-related illness. Safe and clean water is essential to healthy living. Thus, water purifiers kill bacteria, dangerous viruses, and many other impurities from water and enable it to be safe for drinking. Removing impurities such as giardia and cryptosporidium lessens the possibility of gastrointestinal illness by 33%. It also eliminates chlorine byproducts & chlorine and reduces the threat of bladder & rectal cancer.
Moreover, clean drinking water enhances the metabolic system, improves skin health, keeps the energy level, helps weight reduction, and boosts the body's overall immune system. Water purification systems improve the quality, taste & flavor of raw water. Therefore, clean & safe water for cooking keeps the natural taste. This purifier removes some minerals, which can affect the overall water quality. Water filtration at the entrance helps improve piping systems & saves the cost of maintenance.

Water Purifier Market Trends:

Rising disposable income in emerging nations boosts water purifier market growth. An increasing income level surges customers' purchasing power, resulting in an enhanced standard of living. Additionally, the need for water purification systems in developing countries is fueled by an increase in the availability of clean water by municipalities and an upsurge in the number of water recycling treatments. Further, raising concerns about healthiness and well-being among the global population has led to the adoption of hygiene conventions. This acts as a key aspect that substantially contributes to the development of the worldwide market.

Besides, the consumer goods industry is majorly impacted due to the COVID-19 pandemic in 2020. During COVID-19, strict lockdowns and entire social distancing were imposed globally. Unbalanced supply chain and production have affected the water purifier market negatively. Because of lockdowns, the development of water purifiers was hindered, resulting in lower supply, therefore negatively affecting the water purifier industry.

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RO Filters accounted for significant Share:

Based on category, the global Water Purifier market is bifurcated into UV filters, Gravity filters, RO filters, and others. RO filters contributed to the largest market. RO water filters are costly & designed to deliver bottled quality water. These advanced filters can deduct 99% of impurities and are positively recommended to dine hard water. Vital minerals such as calcium, magnesium, iron are not permitted through RO systems, which can alter water's taste. Also, RO filters need to be returned conveniently, which further aid the maintenance cost.

In terms of distribution channels, the Water Purifier market is segmented into direct sales, retail stores, and online media. The retail store's segment held a significant water purifier market. This was attributed to the more high affinity of consumers toward physical stores, as they are perceived to be unassailable and allow consumers to try the purifier product before buying. Further, retail stores have the added benefit of immediate gratification, boosting their popularity. Leading brands in water purifiers that use retail stores and direct sales are now growing their channel into online divisions to attract more customers.

Residential is the Fastest-Growing End-Users in the Global Market:

The End-Users market is classified into residential and commercial sectors. The residential was the most comprehensive end-users. Compared to the commercial sector, water is extensively consumed in the household for cooking, washing, bathing, and other purposes. The water purifier gained favor among residential users due to declining water quality, urbanization, and a surge in waterborne illness. Moreover, the rapid urbanization worldwide is projected to create more water purification products during the coming year.

Region-wise, Asia-Pacific was the largest market:
The Asia Pacific accounted for the considerable market. China is the biggest shareholder in the Asia Pacific. Though water purification systems' penetration rate is lower in India, awareness about waterborne illnesses and their adverse health impacts on the body is growing. The region comprises around 60% of the globe's population, including China, Vietnam, Thailand, Indonesia, India, Philippines, and Macau as the emerging markets. Global brands desire amongst themselves to provide better value propositions and effective marketing strategies. Eureka Forbes, Tata Chemicals, Midea Water Appliances, and Kent RO are the leading water purifier companies operating in the Asia Pacific.

Key Market Players:

The leading companies operating in the global Water Purifier market include AO Smith Corporation, Honeywell International Inc., Unilever plc, Pentair, Helen of Troy Limited, Panasonic Corporation, Koninklijke Philips N.V, 3M Corporation.

Market Summary:

• Technology - Renub Research Report covered Water Purifier Market by technology in the 4 viewpoints (UV Purifier, RO purifier, Gravity purifier, and Others)

• End Users - Water Purifier Market has been covered End-Users from 2 viewpoints (Residential and Commercial)

• Regions - We have covered Regions breakup by 22 countries (North America, Europe, Asia Pacific, and Rest of World)

• Distribution Channel - Our Report covered by Distribution Channel breakup by 3 viewpoints (Retail Stores, Direct Sales and Online)

• All the major players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) Panasonic Corporation, Honeywell International Inc., AO Smith Corporation, Unilever plc, Pentair, Helen of Troy Limited, Koninklijke Philips N.V, 3M Corporation

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